HighTower Advisors LLC Raises Stock Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

HighTower Advisors LLC increased its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 16.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,683 shares of the financial services provider’s stock after purchasing an additional 3,141 shares during the quarter. HighTower Advisors LLC’s holdings in United Bankshares were worth $852,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Integrated Investment Consultants LLC raised its stake in shares of United Bankshares by 2.2% in the fourth quarter. Integrated Investment Consultants LLC now owns 12,537 shares of the financial services provider’s stock valued at $471,000 after buying an additional 270 shares during the period. Principal Securities Inc. raised its stake in United Bankshares by 10.1% in the 4th quarter. Principal Securities Inc. now owns 3,115 shares of the financial services provider’s stock valued at $117,000 after acquiring an additional 285 shares during the period. Arizona State Retirement System lifted its holdings in United Bankshares by 0.8% during the fourth quarter. Arizona State Retirement System now owns 39,225 shares of the financial services provider’s stock valued at $1,473,000 after purchasing an additional 296 shares during the last quarter. Jones Financial Companies Lllp boosted its position in United Bankshares by 55.8% during the fourth quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 310 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in shares of United Bankshares by 3.6% in the third quarter. Daiwa Securities Group Inc. now owns 12,328 shares of the financial services provider’s stock worth $457,000 after purchasing an additional 427 shares in the last quarter. Hedge funds and other institutional investors own 70.80% of the company’s stock.

United Bankshares Trading Down 0.5 %

United Bankshares stock opened at $34.86 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. United Bankshares, Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $44.43. The stock has a market cap of $4.99 billion, a P/E ratio of 12.72 and a beta of 0.98. The firm’s fifty day moving average price is $36.68 and its 200-day moving average price is $38.02.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. During the same period last year, the company posted $0.59 EPS. Equities research analysts forecast that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 4.25%. United Bankshares’s payout ratio is presently 54.01%.

Insiders Place Their Bets

In other United Bankshares news, Director Sara Dumond acquired 2,600 shares of the stock in a transaction dated Monday, March 24th. The stock was purchased at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the acquisition, the director now owns 5,054 shares in the company, valued at $176,940.54. The trade was a 105.95 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.66% of the company’s stock.

Analysts Set New Price Targets

UBSI has been the subject of several analyst reports. Stephens reaffirmed an “equal weight” rating and issued a $43.00 price objective on shares of United Bankshares in a report on Monday, January 27th. Piper Sandler reaffirmed a “neutral” rating and issued a $38.50 price target on shares of United Bankshares in a report on Wednesday, March 12th. StockNews.com lowered United Bankshares from a “hold” rating to a “sell” rating in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods dropped their price objective on United Bankshares from $46.00 to $45.00 and set a “market perform” rating on the stock in a report on Monday, January 27th. One investment 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 an average rating of “Hold” and an average price target of $41.88.

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.