United Bankshares, Inc. (NASDAQ:UBSI) Shares Acquired by Verity Asset Management Inc.

Verity Asset Management Inc. lifted its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 100.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,390 shares of the financial services provider's stock after acquiring an additional 28,315 shares during the period. United Bankshares accounts for approximately 0.8% of Verity Asset Management Inc.'s portfolio, making the stock its 27th biggest holding. Verity Asset Management Inc.'s holdings in United Bankshares were worth $1,955,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its stake in United Bankshares by 4.6% in the 4th quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider's stock worth $634,000 after acquiring an additional 748 shares during the period. Truist Financial Corp boosted its holdings in shares of United Bankshares by 69.8% during the fourth quarter. Truist Financial Corp now owns 22,916 shares of the financial services provider's stock worth $860,000 after purchasing an additional 9,418 shares during the last quarter. Los Angeles Capital Management LLC grew its position in shares of United Bankshares by 18.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 12,813 shares of the financial services provider's stock valued at $481,000 after purchasing an additional 2,000 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of United Bankshares by 1.7% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 107,916 shares of the financial services provider's stock valued at $4,052,000 after purchasing an additional 1,822 shares during the period. Finally, Jones Financial Companies Lllp increased its stake in United Bankshares by 55.8% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 70.80% of the company's stock.

Wall Street Analysts Forecast Growth

UBSI has been the topic of a number of research analyst reports. Piper Sandler reissued a "neutral" rating and issued a $38.50 price target on shares of United Bankshares in a research note on Wednesday, March 12th. Wall Street Zen cut shares of United Bankshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods lowered their target price on shares of United Bankshares from $42.00 to $40.00 and set a "market perform" rating for the company in a report on Monday, April 28th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, United Bankshares currently has an average rating of "Hold" and an average target price of $40.63.

United Bankshares Trading Up 0.9%

NASDAQ:UBSI traded up $0.36 on Thursday, hitting $38.41. 568,118 shares of the stock were exchanged, compared to its average volume of 660,736. The stock has a fifty day moving average of $35.94 and a 200-day moving average of $36.08. The stock has a market cap of $5.46 billion, a PE ratio of 14.28 and a beta of 0.76. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.10. United Bankshares, Inc. has a fifty-two week low of $30.51 and a fifty-two week high of $44.43.

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

United Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date was Friday, June 13th. United Bankshares's dividend payout ratio is presently 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.