Wells Fargo & Company MN Raises Position in United Bankshares, Inc. (NASDAQ:UBSI)

Wells Fargo & Company MN boosted its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 433,497 shares of the financial services provider's stock after acquiring an additional 16,127 shares during the quarter. Wells Fargo & Company MN owned about 0.32% of United Bankshares worth $16,278,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new stake in United Bankshares in the 4th quarter worth about $26,000. Jones Financial Companies Lllp grew 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 buying an additional 310 shares during the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of United Bankshares by 1,921.1% in the fourth 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. lifted its stake in shares of United Bankshares by 37.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider's stock worth $56,000 after acquiring an additional 400 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in United Bankshares during the 4th quarter valued at $85,000. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at United Bankshares

In related news, Director Sara Dumond bought 2,600 shares of the business's stock in a transaction on Monday, March 24th. The shares were bought at an average price of $35.01 per share, for a total transaction 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 trade represents a 105.95 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.66% of the company's stock.

Wall Street Analyst Weigh In

UBSI has been the topic of a number of recent analyst reports. Piper Sandler reiterated a "neutral" rating and issued a $38.50 target price on shares of United Bankshares in a research note on Wednesday, March 12th. Keefe, Bruyette & Woods reduced their price target on shares of United Bankshares from $46.00 to $45.00 and set a "market perform" rating on the stock in a research note on Monday, January 27th. Stephens reissued an "equal weight" rating and issued a $43.00 price objective on shares of United Bankshares in a research report on Monday, January 27th. Finally, StockNews.com downgraded shares of United Bankshares from a "hold" rating to a "sell" rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $41.88.

United Bankshares Stock Up 0.2 %

Shares of United Bankshares stock traded up $0.07 during trading on Friday, hitting $33.51. 2,560,841 shares of the stock traded hands, compared to its average volume of 605,802. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The stock's fifty day simple moving average is $34.67 and its 200 day simple moving average is $37.51. The firm has a market cap of $4.81 billion, a P/E ratio of 12.23 and a beta of 0.91. United Bankshares, Inc. has a 52-week low of $30.51 and a 52-week high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last posted its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. During the same period last year, the company posted $0.59 earnings per share. On average, equities analysts predict that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.42%. United Bankshares's dividend payout ratio is presently 54.01%.

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.