Ameriprise Financial Inc. Buys 27,977 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Ameriprise Financial Inc. increased its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 7.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 381,439 shares of the financial services provider's stock after purchasing an additional 27,977 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.28% of United Bankshares worth $14,331,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in United Bankshares by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,310,562 shares of the financial services provider's stock valued at $537,362,000 after buying an additional 115,681 shares in the last quarter. Earnest Partners LLC grew its holdings in United Bankshares by 0.7% during the 4th quarter. Earnest Partners LLC now owns 4,199,136 shares of the financial services provider's stock valued at $157,678,000 after buying an additional 29,898 shares in the last quarter. Northern Trust Corp grew its holdings in United Bankshares by 13.7% during the 4th quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider's stock valued at $66,614,000 after buying an additional 213,441 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in United Bankshares by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,710,588 shares of the financial services provider's stock valued at $64,233,000 after buying an additional 37,532 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in United Bankshares by 3.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,612,170 shares of the financial services provider's stock valued at $60,538,000 after buying an additional 54,089 shares in the last quarter. Hedge funds and other institutional investors own 70.80% of the company's stock.

Insider Buying and Selling

In other United Bankshares news, Director Sara Dumond purchased 2,600 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average cost of $35.01 per share, with a total value of $91,026.00. Following the purchase, the director now owns 5,054 shares of the company's stock, valued at approximately $176,940.54. The trade was a 105.95% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.46% of the stock is owned by corporate insiders.

United Bankshares Trading Down 0.3%

Shares of United Bankshares stock traded down $0.12 on Friday, reaching $36.01. The company had a trading volume of 539,687 shares, compared to its average volume of 629,523. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 13.14 and a beta of 0.74. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The firm's 50-day moving average price is $34.50 and its two-hundred day moving average price is $37.22. 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 announced its earnings results 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). The company had revenue of $289.61 million during the quarter, compared to analysts' expectations of $279.02 million. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. United Bankshares's revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 EPS. As a group, research analysts predict that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently announced 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. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend is Friday, June 13th. United Bankshares's dividend payout ratio (DPR) is 55.02%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Stephens restated an "equal weight" rating and set a $43.00 price target on shares of United Bankshares in a report on Monday, January 27th. Piper Sandler restated a "neutral" rating and set a $38.50 price target on shares of United Bankshares in a report on Wednesday, March 12th. Keefe, Bruyette & Woods cut their price target on United Bankshares from $42.00 to $40.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Finally, Wall Street Zen cut United Bankshares from a "hold" rating to a "sell" rating in a report on Wednesday. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $40.63.

About United Bankshares

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.