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

Price T Rowe Associates Inc. MD grew its stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 8.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,262 shares of the financial services provider's stock after buying an additional 8,525 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.08% of United Bankshares worth $3,991,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. SBI Securities Co. Ltd. purchased a new position in United Bankshares during the fourth quarter valued at approximately $26,000. Jones Financial Companies Lllp lifted its stake in shares of United Bankshares by 55.8% during the 4th quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider's stock valued at $33,000 after buying an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its holdings 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 buying an additional 1,364 shares during the period. Nomura Asset Management Co. Ltd. increased 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 in the last quarter. Finally, Headlands Technologies LLC bought a new stake in United Bankshares during the fourth quarter valued at about $85,000. 70.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on UBSI. Piper Sandler reiterated 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 cut shares of United Bankshares from a "hold" rating to a "sell" rating in a research report on Monday, January 27th. 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. Finally, Keefe, Bruyette & Woods decreased their price target on shares of United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, United Bankshares currently has an average rating of "Hold" and an average price target of $40.63.

United Bankshares Price Performance

United Bankshares stock traded down $0.30 during mid-day trading on Friday, reaching $35.52. 339,482 shares of the company's stock traded hands, compared to its average volume of 621,157. United Bankshares, Inc. has a 12-month low of $30.51 and a 12-month high of $44.43. The company has a market cap of $5.10 billion, a price-to-earnings ratio of 12.96 and a beta of 0.74. The stock has a 50 day moving average of $34.06 and a two-hundred day moving average of $37.27. 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 announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.59 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $279.02 million. During the same period in the previous year, the business posted $0.64 EPS. The firm's revenue was up 13.7% on a year-over-year basis. Equities analysts forecast 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. Investors of record on Friday, March 14th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 4.17%. United Bankshares's payout ratio is presently 55.02%.

Insiders Place Their Bets

In other United Bankshares news, Director Sara Dumond bought 2,600 shares of the company's stock in a transaction on Monday, March 24th. The stock was acquired at an average price of $35.01 per share, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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.