Ruffer LLP Invests $3.13 Million in United Bankshares, Inc. $UBSI

Key Points

• Ruffer LLP acquired 81,408 shares of United Bankshares (NASDAQ:UBSI) in Q4, a new stake worth about $3.13 million, representing roughly 0.06% of the company.
• United Bankshares beat Q results with $0.91 EPS (vs. $0.86 expected) and $430.85M revenue, and it pays a quarterly dividend of $0.38 (annual $1.52, 3.5% yield).
• Market and analyst backdrop is mixed: institutional ownership is ~70.8%, consensus rating is "Hold" with a $44.67 price target, and the stock trades around a $6.09B market cap with a 13.3x P/E.

Ruffer LLP acquired a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 81,408 shares of the financial services provider's stock, valued at approximately $3,131,000. Ruffer LLP owned approximately 0.06% of United Bankshares at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in United Bankshares by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 7,741,908 shares of the financial services provider's stock valued at $288,076,000 after buying an additional 24,631 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of United Bankshares by 1.2% during the 3rd quarter. Victory Capital Management Inc. now owns 3,624,628 shares of the financial services provider's stock worth $134,872,000 after buying an additional 42,255 shares in the last quarter. Bank of America Corp DE grew its position in shares of United Bankshares by 11.4% during the 3rd quarter. Bank of America Corp DE now owns 1,367,319 shares of the financial services provider's stock worth $50,878,000 after buying an additional 139,646 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of United Bankshares by 10.1% during the 3rd quarter. Fisher Asset Management LLC now owns 1,275,425 shares of the financial services provider's stock worth $47,459,000 after buying an additional 116,647 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of United Bankshares by 11.8% during the 2nd quarter. Invesco Ltd. now owns 1,096,626 shares of the financial services provider's stock worth $39,950,000 after buying an additional 116,073 shares in the last quarter. Institutional investors own 70.80% of the company's stock.

United Bankshares Trading Down 2.0%

NASDAQ:UBSI opened at $43.61 on Wednesday. United Bankshares, Inc. has a one year low of $33.03 and a one year high of $45.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.99. The firm has a market cap of $6.09 billion, a P/E ratio of 13.34 and a beta of 0.73. The firm has a 50-day simple moving average of $42.01 and a 200-day simple moving average of $39.85.

United Bankshares (NASDAQ:UBSI - Get Free Report) last posted its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. United Bankshares had a net margin of 25.51% and a return on equity of 8.60%. The business had revenue of $430.85 million during the quarter, compared to analyst estimates of $315.50 million. During the same quarter in the previous year, the business posted $0.69 EPS. Equities analysts anticipate that United Bankshares, Inc. will post 3.54 EPS for the current fiscal year.

United Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.5%. United Bankshares's payout ratio is presently 46.48%.

Wall Street Analyst Weigh In

UBSI has been the topic of a number of recent research reports. Stephens increased their price target 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 price target on shares of United Bankshares from $40.00 to $43.00 and gave the company a "market perform" rating in a report on Monday, January 26th. Weiss Ratings upgraded shares of United Bankshares from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, February 13th. Zacks Research lowered shares of United Bankshares from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 26th. Finally, Piper Sandler restated an "overweight" rating and issued a $47.00 price target on shares of United Bankshares in a report on Monday, January 26th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, United Bankshares currently has a consensus rating of "Hold" and a consensus price target of $44.67.

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.

Want to see what other hedge funds are holding UBSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Bankshares, Inc. (NASDAQ:UBSI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.