Artemis Investment Management LLP Makes New Investment in United Bankshares, Inc. $UBSI

Key Points

• Artemis Investment Management LLP opened a new position in United Bankshares (NASDAQ:UBSI) in Q4, buying 46,894 shares valued at about $1.80 million as institutional ownership of the stock stands near 70.8%.
• Wall Street is cautiously positive: UBSI has a consensus rating of Moderate Buy with an average target of $45.75, trades around $43.68, sports a P/E of 12.24, and pays an annualized dividend yield of about 3.5%.

Artemis Investment Management LLP acquired a new stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 46,894 shares of the financial services provider's stock, valued at approximately $1,801,000.

A number of other hedge funds also recently made changes to their positions in the business. Commonwealth Financial Services LLC boosted its position in shares of United Bankshares by 521.5% in the third quarter. Commonwealth Financial Services LLC now owns 37,248 shares of the financial services provider's stock valued at $1,386,000 after acquiring an additional 31,255 shares during the period. JPMorgan Chase & Co. increased its holdings in United Bankshares by 64.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 782,292 shares of the financial services provider's stock worth $29,109,000 after acquiring an additional 307,159 shares during the period. AlTi Global Inc. purchased a new stake in United Bankshares in the 3rd quarter worth approximately $423,000. SG Americas Securities LLC lifted its stake in United Bankshares by 168.3% in the 4th quarter. SG Americas Securities LLC now owns 56,866 shares of the financial services provider's stock worth $2,184,000 after purchasing an additional 35,673 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new position in United Bankshares in the 3rd quarter valued at $936,000. 70.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on UBSI. Piper Sandler restated an "overweight" rating and set a $47.00 price target on shares of United Bankshares in a research report on Monday, January 26th. Stephens increased their price objective on United Bankshares from $40.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Friday, January 23rd. Keefe, Bruyette & Woods boosted their target price on United Bankshares from $40.00 to $43.00 and gave the stock a "market perform" rating in a research report on Monday, January 26th. Weiss Ratings upgraded United Bankshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, February 13th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $49.00 price target on shares of United Bankshares in a report on Monday, April 27th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, United Bankshares presently has an average rating of "Moderate Buy" and a consensus target price of $45.75.

United Bankshares Price Performance

Shares of NASDAQ:UBSI opened at $43.68 on Friday. The company's fifty day moving average price is $41.95 and its 200-day moving average price is $40.17. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.99 and a quick ratio of 0.98. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of 12.24 and a beta of 0.72. United Bankshares, Inc. has a one year low of $34.10 and a one year high of $45.92.

United Bankshares (NASDAQ:UBSI - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.04. The company had revenue of $318.14 million during the quarter, compared to the consensus estimate of $315.15 million. United Bankshares had a net margin of 27.45% and a return on equity of 9.26%. During the same period in the previous year, the firm posted $0.59 EPS. On average, equities research analysts anticipate that United Bankshares, Inc. will post 3.64 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.52 annualized dividend and a yield of 3.5%. United Bankshares's payout ratio is 42.58%.

About United Bankshares

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company's core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.

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