Mirae Asset Global Investments Co. Ltd. Grows Stock Position in United Bankshares, Inc. (NASDAQ:UBSI)

Mirae Asset Global Investments Co. Ltd. grew its stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 58.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,471 shares of the financial services provider's stock after buying an additional 33,812 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.07% of United Bankshares worth $3,435,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. US Bancorp DE increased its position in United Bankshares by 2.5% during the first quarter. US Bancorp DE now owns 22,234 shares of the financial services provider's stock worth $774,000 after buying an additional 541 shares during the period. Cetera Advisor Networks LLC raised its position in United Bankshares by 41.6% in the 1st quarter. Cetera Advisor Networks LLC now owns 10,429 shares of the financial services provider's stock valued at $364,000 after purchasing an additional 3,062 shares during the last quarter. Bank of Montreal Can raised its position in United Bankshares by 1.0% in the 1st quarter. Bank of Montreal Can now owns 36,804 shares of the financial services provider's stock valued at $1,303,000 after purchasing an additional 356 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in United Bankshares by 10.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 49,987 shares of the financial services provider's stock worth $1,744,000 after purchasing an additional 4,788 shares during the period. Finally, BlackRock Inc. grew its position in United Bankshares by 2.7% during the 1st quarter. BlackRock Inc. now owns 18,874,678 shares of the financial services provider's stock worth $658,348,000 after purchasing an additional 495,652 shares during the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Raymond James increased their target price on shares of United Bankshares from $38.00 to $41.00 and gave the stock an "outperform" rating in a research note on Friday, January 5th.

United Bankshares Stock Performance

Shares of United Bankshares stock traded up $0.55 during trading hours on Thursday, hitting $33.12. 532,261 shares of the company were exchanged, compared to its average volume of 554,665. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average of $34.36 and a 200-day moving average of $33.66. United Bankshares, Inc. has a 1 year low of $25.35 and a 1 year high of $38.74. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 12.02 and a beta of 1.00.

United Bankshares (NASDAQ:UBSI - Get Free Report) last announced its quarterly earnings data on Friday, January 26th. The financial services provider reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.01. The company had revenue of $402.85 million during the quarter, compared to the consensus estimate of $258.98 million. United Bankshares had a net margin of 23.84% and a return on equity of 8.05%. During the same quarter in the prior year, the firm earned $0.74 EPS. As a group, analysts expect that United Bankshares, Inc. will post 2.64 EPS for the current fiscal year.

United Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend was Thursday, March 7th. United Bankshares's dividend payout ratio is presently 54.61%.

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.