Pinebridge Investments L.P. Raises Position in United Bankshares, Inc. (NASDAQ:UBSI)

Pinebridge Investments L.P. grew its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 42.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,341 shares of the financial services provider's stock after buying an additional 18,350 shares during the quarter. Pinebridge Investments L.P.'s holdings in United Bankshares were worth $2,303,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in shares of United Bankshares during the 4th quarter valued at about $26,000. Jones Financial Companies Lllp raised its position in United Bankshares by 55.8% in the 4th 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 during the period. Wilmington Savings Fund Society FSB raised its position in United Bankshares by 1,921.1% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider's stock worth $54,000 after purchasing an additional 1,364 shares during the period. Nomura Asset Management Co. Ltd. raised its position 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 worth $56,000 after purchasing an additional 400 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in United Bankshares in the 4th quarter worth about $85,000. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

United Bankshares Trading Up 0.5 %

Shares of UBSI traded up $0.18 during mid-day trading on Thursday, reaching $34.47. The stock had a trading volume of 720,370 shares, compared to its average volume of 616,658. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 12.58 and a beta of 0.91. The business's fifty day moving average is $34.12 and its 200 day moving average is $37.39. 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 issued its earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.07). The firm had revenue of $289.61 million during the quarter, compared to analyst estimates of $279.02 million. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. The firm's revenue was up 13.7% compared to the same quarter last year. During the same period last year, the business earned $0.64 EPS. On average, sell-side analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 4.29%. United Bankshares's dividend payout ratio is presently 55.02%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a research report on Monday. Piper Sandler reaffirmed a "neutral" rating and set a $38.50 target price on shares of United Bankshares in a research report on Wednesday, March 12th. StockNews.com lowered United Bankshares from a "hold" rating to a "sell" rating in a research report on Monday, January 27th. Finally, Stephens reaffirmed an "equal weight" rating and set a $43.00 target price on shares of United Bankshares in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $40.63.

Insider Transactions at United Bankshares

In related news, Director Sara Dumond bought 2,600 shares of the stock in a transaction on Monday, March 24th. The shares were bought at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the completion of the transaction, the director now owns 5,054 shares of the company's stock, valued at $176,940.54. This represents a 105.95 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.66% of the company's stock.

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.