ProShare Advisors LLC Purchases 41,819 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

ProShare Advisors LLC grew its position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,123,987 shares of the financial services provider's stock after acquiring an additional 41,819 shares during the quarter. ProShare Advisors LLC owned about 0.83% of United Bankshares worth $42,206,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in United Bankshares in the fourth quarter worth $26,000. Jones Financial Companies Lllp boosted its stake 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 acquiring an additional 310 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its stake in shares of United Bankshares by 1,921.1% during 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 acquiring an additional 1,364 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted 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 worth $56,000 after buying an additional 400 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of United Bankshares in the 4th quarter valued at about $85,000. 70.80% of the stock is owned by institutional investors and hedge funds.

United Bankshares Stock Performance

Shares of UBSI stock traded down $0.50 during mid-day trading on Wednesday, reaching $36.68. The stock had a trading volume of 230,728 shares, compared to its average volume of 624,456. The firm's 50 day simple moving average is $34.42 and its 200 day simple moving average is $37.25. 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, Inc. has a one year low of $30.51 and a one year high of $44.43. The firm has a market cap of $5.21 billion, a PE ratio of 13.39 and a beta of 0.74.

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 analysts' consensus estimates of $0.66 by ($0.07). United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. The company had revenue of $289.61 million during the quarter, compared to analyst estimates of $279.02 million. During the same period in the previous year, the company posted $0.64 earnings per share. The company's quarterly revenue was up 13.7% on a year-over-year basis. On average, analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.03%. United Bankshares's dividend payout ratio (DPR) is presently 55.02%.

Analyst Upgrades and Downgrades

UBSI has been the topic of several analyst reports. Stephens restated an "equal weight" rating and set a $43.00 price objective on shares of United Bankshares in a report on Monday, January 27th. Keefe, Bruyette & Woods reduced their price objective on United Bankshares from $42.00 to $40.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. Piper Sandler reiterated a "neutral" rating and set a $38.50 price target 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 report on Wednesday. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $40.63.

Insider Buying and Selling

In other news, Director Sara Dumond acquired 2,600 shares of United Bankshares stock in a transaction dated Monday, March 24th. The stock was bought at an average cost of $35.01 per share, with a total value of $91,026.00. Following the completion of the transaction, the director now directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.46% of the stock is owned by insiders.

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.