Retirement Systems of Alabama Grows Stake in United Bankshares, Inc. (NASDAQ:UBSI)

Retirement Systems of Alabama increased its position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 173,760 shares of the financial services provider's stock after acquiring an additional 9,728 shares during the period. Retirement Systems of Alabama owned about 0.12% of United Bankshares worth $6,024,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in United Bankshares during the 4th quarter worth about $26,000. Jones Financial Companies Lllp raised its position in United Bankshares by 55.8% in the 4th quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 310 shares in the last quarter. Farther Finance Advisors LLC raised its position in United Bankshares by 726.5% in the 1st quarter. Farther Finance Advisors LLC now owns 967 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 850 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in United Bankshares by 37.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 400 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in United Bankshares by 44.4% in the 1st quarter. Fifth Third Bancorp now owns 1,699 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 522 shares in the last quarter. Institutional investors and hedge funds own 70.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on UBSI shares. Keefe, Bruyette & Woods reduced their price target on United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Piper Sandler reaffirmed a "neutral" rating and issued a $38.50 price target on shares of United Bankshares in a research report on Wednesday, March 12th. Finally, Wall Street Zen lowered United Bankshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $40.63.

United Bankshares Stock Down 0.9%

Shares of UBSI traded down $0.33 during mid-day trading on Friday, reaching $36.43. The company's stock had a trading volume of 2,408,128 shares, compared to its average volume of 655,437. United Bankshares, Inc. has a 12-month low of $30.51 and a 12-month high of $44.43. The stock has a market cap of $5.18 billion, a PE ratio of 13.54 and a beta of 0.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98. The company's 50 day moving average is $35.73 and its 200 day moving average is $36.12.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.07). United Bankshares had a net margin of 22.35% and a return on equity of 7.36%. The business had revenue of $289.61 million during the quarter, compared to analysts' expectations of $279.02 million. During the same quarter in the previous year, the company posted $0.64 EPS. The company's revenue was up 13.7% compared to the same quarter last year. Equities analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.37 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.06%. United Bankshares's payout ratio is currently 55.02%.

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.