Gamco Investors INC. ET AL Invests $282,000 in United Bankshares, Inc. (NASDAQ:UBSI)

Gamco Investors INC. ET AL purchased a new position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,500 shares of the financial services provider's stock, valued at approximately $282,000.

Other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in United Bankshares during the fourth quarter worth $26,000. Jones Financial Companies Lllp boosted its position in United Bankshares by 55.8% during 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 in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in United Bankshares by 1,921.1% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 1,364 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in United Bankshares by 37.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider's stock valued at $56,000 after acquiring an additional 400 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in United Bankshares in the 4th quarter worth $85,000. Institutional investors own 70.80% of the company's stock.

United Bankshares Trading Down 0.7 %

NASDAQ UBSI traded down $0.25 during mid-day trading on Friday, reaching $34.21. 299,577 shares of the stock were exchanged, compared to its average volume of 611,873. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $4.91 billion, a PE ratio of 12.50 and a beta of 0.91. The business's fifty day simple moving average is $34.34 and its 200 day simple moving average is $37.45. 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 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). United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. The company had revenue of $289.61 million during the quarter, compared to analyst estimates of $279.02 million. On average, research analysts anticipate that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Friday, March 14th. United Bankshares's dividend payout ratio (DPR) is 54.01%.

Insider Activity at United Bankshares

In related 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 acquired at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the completion of the acquisition, the director now owns 5,054 shares in the company, valued at $176,940.54. This trade represents a 105.95 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.66% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on UBSI shares. Stephens restated an "equal weight" rating and issued a $43.00 price target on shares of United Bankshares in a research report on Monday, January 27th. Keefe, Bruyette & Woods decreased their target price on shares of United Bankshares from $46.00 to $45.00 and set a "market perform" rating on the stock in a research report on Monday, January 27th. Piper Sandler reissued a "neutral" rating and issued a $38.50 target price on shares of United Bankshares in a research report on Wednesday, March 12th. Finally, StockNews.com lowered United Bankshares from a "hold" rating to a "sell" rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $41.88.

United Bankshares 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.