Nuveen Asset Management LLC Has $30.28 Million Stock Position in United Bankshares, Inc. (NASDAQ:UBSI)

Nuveen Asset Management LLC decreased its stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 8.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 806,304 shares of the financial services provider's stock after selling 73,015 shares during the period. Nuveen Asset Management LLC owned approximately 0.60% of United Bankshares worth $30,277,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in United Bankshares during the fourth quarter worth about $54,712,000. Raymond James Financial Inc. acquired a new stake in United Bankshares during the fourth quarter worth about $14,948,000. JPMorgan Chase & Co. grew its position in United Bankshares by 39.7% during the fourth quarter. JPMorgan Chase & Co. now owns 830,774 shares of the financial services provider's stock worth $31,196,000 after buying an additional 235,955 shares in the last quarter. Northern Trust Corp grew its position in United Bankshares by 13.7% during the fourth quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider's stock worth $66,614,000 after buying an additional 213,441 shares in the last quarter. Finally, Barclays PLC grew its position in United Bankshares by 89.5% during the third quarter. Barclays PLC now owns 269,852 shares of the financial services provider's stock worth $10,012,000 after buying an additional 127,486 shares in the last quarter. Institutional investors and hedge funds own 70.80% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on UBSI shares. Piper Sandler reissued a "neutral" rating and set a $38.50 target price on shares of United Bankshares in a research report on Wednesday, March 12th. StockNews.com downgraded shares of United Bankshares from a "hold" rating to a "sell" rating in a research note on Wednesday. Keefe, Bruyette & Woods decreased their price target on shares of United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Finally, Stephens reiterated an "equal weight" rating and set a $43.00 price target on shares of United Bankshares in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to data from MarketBeat, United Bankshares currently has an average rating of "Hold" and a consensus target price of $40.63.

United Bankshares Stock Down 3.0%

NASDAQ UBSI opened at $36.06 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The stock's 50 day moving average is $34.45 and its two-hundred day moving average is $37.24. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 13.16 and a beta of 0.74. United Bankshares, Inc. has a 1-year low of $30.51 and a 1-year high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.59 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.07). United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. The firm had revenue of $289.61 million during the quarter, compared to analyst estimates of $279.02 million. During the same quarter in the prior year, the firm posted $0.64 EPS. The firm's revenue for the quarter was up 13.7% on a year-over-year basis. Equities analysts forecast that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.37 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.48 annualized dividend and a dividend yield of 4.10%. United Bankshares's dividend payout ratio is presently 55.02%.

Insider Activity

In other United Bankshares news, Director Sara Dumond bought 2,600 shares of United Bankshares stock in a transaction dated Monday, March 24th. The shares were acquired at an average cost of $35.01 per share, with a total value of $91,026.00. Following the acquisition, the director now directly owns 5,054 shares of the company's stock, valued at $176,940.54. The trade was a 105.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.46% of the stock is owned by corporate insiders.

United Bankshares Company Profile

United Bankshares, Inc, through its subsidiaries, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts.

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