Price T Rowe Associates Inc. MD Raises Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Price T Rowe Associates Inc. MD lifted its holdings in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 8.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,262 shares of the financial services provider's stock after acquiring an additional 8,525 shares during the period. Price T Rowe Associates Inc. MD owned 0.08% of United Bankshares worth $3,991,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in UBSI. Norges Bank purchased a new position in shares of United Bankshares in the fourth quarter worth $54,712,000. Raymond James Financial Inc. purchased a new stake in United Bankshares in the 4th quarter worth $14,948,000. JPMorgan Chase & Co. grew its position in shares of United Bankshares by 39.7% during the fourth quarter. JPMorgan Chase & Co. now owns 830,774 shares of the financial services provider's stock valued at $31,196,000 after purchasing an additional 235,955 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of United Bankshares in the fourth quarter worth about $7,383,000. Finally, Barclays PLC boosted its stake in United Bankshares by 89.5% during the third quarter. Barclays PLC now owns 269,852 shares of the financial services provider's stock valued at $10,012,000 after buying an additional 127,486 shares during the last quarter. Hedge funds and other institutional investors own 70.80% of the company's stock.

Insider Activity at United Bankshares

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

United Bankshares Trading Up 0.2 %

Shares of NASDAQ:UBSI traded up $0.07 during trading hours on Wednesday, hitting $35.03. 561,287 shares of the company's stock traded hands, compared to its average volume of 619,113. The firm has a market capitalization of $5.03 billion, a P/E ratio of 12.78 and a beta of 0.74. The business has a fifty day moving average price of $34.06 and a 200-day moving average price of $37.28. United Bankshares, Inc. has a 1 year low of $30.51 and a 1 year 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 released 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 business had revenue of $289.61 million for 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 revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 earnings per share. Equities analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 4.22%. The ex-dividend date was Friday, March 14th. United Bankshares's dividend payout ratio is presently 55.02%.

Analyst Upgrades and Downgrades

UBSI has been the topic of several recent research reports. StockNews.com downgraded United Bankshares from a "hold" rating to a "sell" rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods reduced their target price on shares of United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Stephens reiterated an "equal weight" rating and issued a $43.00 price target on shares of United Bankshares in a research report on Monday, January 27th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $38.50 price objective on shares of United Bankshares in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, United Bankshares presently has an average rating of "Hold" and an average target price of $40.63.

About United Bankshares

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.