Raymond James Financial Inc. Purchases New Shares in United Bankshares, Inc. (NASDAQ:UBSI)

Raymond James Financial Inc. bought a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 398,066 shares of the financial services provider's stock, valued at approximately $14,948,000. Raymond James Financial Inc. owned about 0.29% of United Bankshares at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of UBSI. Integrated Investment Consultants LLC boosted its position in shares of United Bankshares by 2.2% during the fourth quarter. Integrated Investment Consultants LLC now owns 12,537 shares of the financial services provider's stock valued at $471,000 after buying an additional 270 shares during the last quarter. Principal Securities Inc. lifted its stake in United Bankshares by 10.1% during the 4th quarter. Principal Securities Inc. now owns 3,115 shares of the financial services provider's stock valued at $117,000 after acquiring an additional 285 shares during the period. Arizona State Retirement System boosted its holdings in shares of United Bankshares by 0.8% during the 4th quarter. Arizona State Retirement System now owns 39,225 shares of the financial services provider's stock valued at $1,473,000 after acquiring an additional 296 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of United Bankshares by 55.8% during the fourth quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 310 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in United Bankshares by 37.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 400 shares during the period. Institutional investors own 70.80% of the company's stock.

United Bankshares Price Performance

UBSI stock traded down $0.37 during trading on Friday, reaching $34.09. The company's stock had a trading volume of 731,743 shares, compared to its average volume of 613,591. The company's fifty day moving average is $34.26 and its 200-day moving average is $37.43. United Bankshares, Inc. has a 1 year low of $30.51 and a 1 year high of $44.43. The company has a market capitalization of $4.89 billion, a P/E ratio of 12.44 and a beta of 0.91. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11.

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 (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.07). United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. The business had revenue of $289.61 million for the quarter, compared to the consensus estimate of $279.02 million. On average, research analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend was Friday, March 14th. United Bankshares's dividend payout ratio (DPR) is presently 54.01%.

Insider Buying and Selling

In other news, Director Sara Dumond bought 2,600 shares of the firm's stock in a transaction that occurred 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 approximately $176,940.54. This represents a 105.95 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods lowered their price target on United Bankshares from $46.00 to $45.00 and set a "market perform" rating on the stock in a report on Monday, January 27th. Piper Sandler restated a "neutral" rating and set a $38.50 price target on shares of United Bankshares in a research note on Wednesday, March 12th. StockNews.com lowered shares of United Bankshares from a "hold" rating to a "sell" rating in a research report on Monday, January 27th. Finally, Stephens restated 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, United Bankshares presently has a consensus rating of "Hold" and an average target price 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.