Verity Asset Management Inc. Purchases 28,315 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Verity Asset Management Inc. increased its position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 100.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 56,390 shares of the financial services provider's stock after buying an additional 28,315 shares during the period. United Bankshares accounts for 0.8% of Verity Asset Management Inc.'s portfolio, making the stock its 27th largest holding. Verity Asset Management Inc.'s holdings in United Bankshares were worth $1,955,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of United Bankshares by 4.6% during the 4th quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider's stock worth $634,000 after purchasing an additional 748 shares during the last quarter. Truist Financial Corp boosted its holdings in United Bankshares by 69.8% in 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 in the last quarter. Los Angeles Capital Management LLC increased its position in United Bankshares by 18.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 12,813 shares of the financial services provider's stock worth $481,000 after buying an additional 2,000 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in United Bankshares by 1.7% during 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 buying an additional 1,822 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted 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 buying an additional 310 shares during the last quarter. Institutional investors own 70.80% of the company's stock.

United Bankshares Trading Down 0.9%

Shares of NASDAQ:UBSI opened at $36.43 on Monday. 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 stock's 50-day moving average is $35.73 and its 200-day moving average is $36.09. The company has a market cap of $5.18 billion, a P/E ratio of 13.54 and a beta of 0.76. United Bankshares, Inc. has a 52-week low of $30.51 and a 52-week high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released 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). 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 analyst estimates of $279.02 million. During the same period last year, the business earned $0.64 EPS. The business's quarterly revenue was up 13.7% compared to the same quarter last year. Equities research analysts predict that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Friday, June 13th. United Bankshares's dividend payout ratio (DPR) is currently 55.02%.

Analyst Ratings Changes

A number of brokerages have recently commented on UBSI. Piper Sandler reissued a "neutral" rating and set a $38.50 price objective on shares of United Bankshares in a report on Wednesday, March 12th. Keefe, Bruyette & Woods lowered their price target on United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Finally, Wall Street Zen lowered shares of 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 company's stock. According to data from MarketBeat.com, United Bankshares presently has an average 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.

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