New York State Common Retirement Fund Increases Stake in United Bankshares, Inc. (NASDAQ:UBSI)

New York State Common Retirement Fund raised its holdings in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 13.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 664,599 shares of the financial services provider's stock after acquiring an additional 78,022 shares during the quarter. New York State Common Retirement Fund owned approximately 0.49% of United Bankshares worth $24,956,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in United Bankshares by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 14,131,592 shares of the financial services provider's stock valued at $389,891,000 after acquiring an additional 56,643 shares during the period. Earnest Partners LLC increased its position in shares of United Bankshares by 4.8% during the third quarter. Earnest Partners LLC now owns 3,375,991 shares of the financial services provider's stock worth $93,144,000 after buying an additional 155,891 shares during the period. Northern Trust Corp increased its position in shares of United Bankshares by 1.8% during the third quarter. Northern Trust Corp now owns 1,638,500 shares of the financial services provider's stock worth $45,206,000 after buying an additional 28,641 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of United Bankshares by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,426,339 shares of the financial services provider's stock worth $39,353,000 after buying an additional 27,235 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its position in shares of United Bankshares by 103.9% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,142,091 shares of the financial services provider's stock worth $42,885,000 after buying an additional 581,870 shares during the period. 70.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on UBSI shares. Raymond James increased their price objective on shares of United Bankshares from $38.00 to $41.00 and gave the stock an "outperform" rating in a research report on Friday, January 5th. Stephens decreased their price objective on shares of United Bankshares from $36.00 to $34.00 and set an "equal weight" rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, United Bankshares has a consensus rating of "Hold" and an average target price of $36.67.

United Bankshares Stock Down 0.0 %

NASDAQ UBSI traded down $0.01 on Friday, hitting $33.35. 755,761 shares of the company were exchanged, compared to its average volume of 419,705. The company has a market cap of $4.50 billion, a PE ratio of 12.73 and a beta of 1.00. United Bankshares, Inc. has a 12 month low of $25.35 and a 12 month high of $38.74. The stock has a fifty day moving average of $34.22 and a 200-day moving average of $33.93. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.37.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.01). The company had revenue of $401.39 million for the quarter, compared to the consensus estimate of $256.80 million. United Bankshares had a return on equity of 7.77% and a net margin of 22.51%. During the same period in the prior year, the company earned $0.74 earnings per share. As a group, analysts forecast that United Bankshares, Inc. will post 2.64 earnings per share for the current year.

United Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.44%. The ex-dividend date was Thursday, March 7th. United Bankshares's dividend payout ratio is presently 56.49%.

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.