United Bankshares, Inc. (NASDAQ:UBSI) Shares Bought by Northern Trust Corp

Northern Trust Corp boosted its stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 13.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,774,018 shares of the financial services provider's stock after purchasing an additional 213,441 shares during the period. Northern Trust Corp owned about 1.31% of United Bankshares worth $66,614,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of UBSI. Vanguard Group Inc. raised its holdings in shares of United Bankshares by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 14,310,562 shares of the financial services provider's stock valued at $537,362,000 after acquiring an additional 115,681 shares in the last quarter. Earnest Partners LLC lifted its position in United Bankshares by 0.7% during the fourth quarter. Earnest Partners LLC now owns 4,199,136 shares of the financial services provider's stock valued at $157,678,000 after buying an additional 29,898 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of United Bankshares by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,710,588 shares of the financial services provider's stock valued at $64,233,000 after buying an additional 37,532 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of United Bankshares by 3.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,612,170 shares of the financial services provider's stock valued at $60,538,000 after buying an additional 54,089 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of United Bankshares in the 4th quarter worth about $54,712,000. Institutional investors own 70.80% of the company's stock.

Insider Activity

In related news, Director Sara Dumond acquired 2,600 shares of the stock in a transaction dated Monday, March 24th. The stock was acquired at an average cost of $35.01 per share, with a total value of $91,026.00. Following the purchase, the director now directly owns 5,054 shares of the company's stock, valued at approximately $176,940.54. This trade represents a 105.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 3.46% of the company's stock.

United Bankshares Stock Performance

Shares of NASDAQ:UBSI traded up $1.68 during trading on Monday, hitting $37.17. The company's stock had a trading volume of 120,159 shares, compared to its average volume of 619,286. The company has a 50-day moving average of $34.06 and a 200-day moving average of $37.28. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 13.52 and a beta of 0.74. United Bankshares, Inc. has a 12 month low of $30.51 and a 12 month high of $44.43. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98.

United Bankshares (NASDAQ:UBSI - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.59 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.07). The company had revenue of $289.61 million during the quarter, compared to the consensus estimate of $279.02 million. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. The firm's quarterly 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 expect that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.37 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 3.98%. United Bankshares's payout ratio is 55.02%.

Wall Street Analyst Weigh In

UBSI has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lowered their price target on shares of 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. StockNews.com cut United Bankshares from a "hold" rating to a "sell" rating in a research report on Monday, January 27th. Stephens reiterated an "equal weight" rating and set a $43.00 price objective on shares of United Bankshares in a research note on Monday, January 27th. Finally, Piper Sandler reissued a "neutral" rating and issued a $38.50 target price on shares of United Bankshares in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $40.63.

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.