Retirement Systems of Alabama Raises Stock Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

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

Several other hedge funds also recently made changes to their positions in UBSI. SBI Securities Co. Ltd. bought a new stake in shares of United Bankshares during the 4th quarter valued at $26,000. Jones Financial Companies Lllp boosted its position in shares of United Bankshares by 55.8% in the fourth quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider's stock worth $33,000 after purchasing an additional 310 shares during the period. Farther Finance Advisors LLC lifted its position in shares of United Bankshares by 726.5% in the first quarter. Farther Finance Advisors LLC now owns 967 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 850 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of United Bankshares by 37.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider's stock worth $56,000 after buying an additional 400 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of United Bankshares by 44.4% in the first quarter. Fifth Third Bancorp now owns 1,699 shares of the financial services provider's stock worth $59,000 after buying an additional 522 shares in the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.

United Bankshares Stock Up 1.5%

NASDAQ UBSI opened at $36.44 on Wednesday. The business has a fifty day moving average price of $35.55 and a 200 day moving average price of $36.22. United Bankshares, Inc. has a one year low of $30.51 and a one year high of $44.43. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $5.18 billion, a P/E ratio of 13.55 and a beta of 0.76.

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

United Bankshares Announces Dividend

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 given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.48 annualized dividend and a dividend yield of 4.06%. United Bankshares's dividend payout ratio is currently 55.02%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of United Bankshares from $42.00 to $40.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. Wall Street Zen lowered shares of United Bankshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $38.50 price objective on shares of United Bankshares in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $40.63.

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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