Raymond James & Associates Grows Stake in United Bankshares, Inc. (NASDAQ:UBSI)

Raymond James & Associates grew its position in United Bankshares, Inc. (NASDAQ:UBSIGet Rating) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,259 shares of the financial services provider’s stock after purchasing an additional 388 shares during the quarter. Raymond James & Associates’ holdings in United Bankshares were worth $2,941,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of UBSI. US Bancorp DE grew its holdings in United Bankshares by 2.5% in the first quarter. US Bancorp DE now owns 22,234 shares of the financial services provider’s stock worth $774,000 after purchasing an additional 541 shares during the last quarter. Cetera Advisor Networks LLC lifted its stake in shares of United Bankshares by 41.6% during the first quarter. Cetera Advisor Networks LLC now owns 10,429 shares of the financial services provider’s stock worth $364,000 after buying an additional 3,062 shares during the period. Bank of Montreal Can lifted its stake in shares of United Bankshares by 1.0% during the first quarter. Bank of Montreal Can now owns 36,804 shares of the financial services provider’s stock worth $1,303,000 after buying an additional 356 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of United Bankshares by 10.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 49,987 shares of the financial services provider’s stock worth $1,744,000 after buying an additional 4,788 shares during the period. Finally, BlackRock Inc. lifted its stake in shares of United Bankshares by 2.7% during the first quarter. BlackRock Inc. now owns 18,874,678 shares of the financial services provider’s stock worth $658,348,000 after buying an additional 495,652 shares during the period. 68.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on UBSI shares. Piper Sandler reiterated a “neutral” rating and set a $45.00 price objective on shares of United Bankshares in a research note on Monday, December 5th. StockNews.com downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Wednesday, January 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $41.33.

Insiders Place Their Bets

In other United Bankshares news, Director J Paul Mcnamara sold 2,500 shares of the company’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $42.75, for a total value of $106,875.00. Following the completion of the transaction, the director now owns 62,699 shares in the company, valued at $2,680,382.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.22% of the company’s stock.

United Bankshares Trading Up 1.7 %

NASDAQ UBSI opened at $39.44 on Friday. The company has a market capitalization of $5.31 billion, a PE ratio of 15.00 and a beta of 1.07. The company has a fifty day moving average of $40.86 and a 200 day moving average of $39.06. United Bankshares, Inc. has a 1 year low of $33.11 and a 1 year high of $44.15. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.91 and a quick ratio of 0.90.

United Bankshares (NASDAQ:UBSIGet Rating) last posted its earnings results on Thursday, October 27th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. The company had revenue of $273.37 million during the quarter, compared to the consensus estimate of $267.31 million. United Bankshares had a net margin of 33.19% and a return on equity of 7.76%. During the same period in the previous year, the firm posted $0.71 earnings per share. Research analysts forecast that United Bankshares, Inc. will post 2.88 earnings per share for the current year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Friday, December 9th were given a $0.36 dividend. The ex-dividend date was Thursday, December 8th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.65%. United Bankshares’s dividend payout ratio (DPR) is currently 54.75%.

United Bankshares Profile

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United Bankshares, Inc, a financial holding company, 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, NOW accounts, and interest-bearing checking accounts.

Further Reading

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Institutional Ownership by Quarter for United Bankshares (NASDAQ:UBSI)

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