United Bankshares, Inc. (NASDAQ:UBSI) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 13.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 664,599 shares of the financial services provider’s stock after purchasing an additional 78,022 shares during the period. New York State Common Retirement Fund owned approximately 0.49% of United Bankshares worth $24,956,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of United Bankshares by 58.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,471 shares of the financial services provider’s stock valued at $3,435,000 after purchasing an additional 33,812 shares in the last quarter. Verity Asset Management Inc. grew its holdings in United Bankshares by 18.2% during the 3rd quarter. Verity Asset Management Inc. now owns 22,816 shares of the financial services provider’s stock worth $629,000 after acquiring an additional 3,506 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in United Bankshares by 103.9% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,142,091 shares of the financial services provider’s stock worth $42,885,000 after acquiring an additional 581,870 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in United Bankshares by 312.2% during the 3rd quarter. EP Wealth Advisors LLC now owns 83,500 shares of the financial services provider’s stock worth $2,304,000 after acquiring an additional 63,245 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in United Bankshares by 0.7% during the 3rd quarter. Rhumbline Advisers now owns 469,237 shares of the financial services provider’s stock worth $12,946,000 after acquiring an additional 3,453 shares in the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

Analysts Set New Price Targets

UBSI has been the subject of several analyst reports. Raymond James boosted their price target on shares of United Bankshares from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Stephens lowered their price target on shares of United Bankshares from $36.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, United Bankshares currently has a consensus rating of “Hold” and an average price target of $36.67.

United Bankshares Stock Down 0.0 %

Shares of NASDAQ:UBSI opened at $33.35 on Friday. The company has a market capitalization of $4.50 billion, a PE ratio of 12.73 and a beta of 1.00. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.37. United Bankshares, Inc. has a twelve month low of $25.35 and a twelve month high of $38.74. The firm has a 50 day simple moving average of $34.26 and a 200-day simple moving average of $33.89.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.01). The company had revenue of $401.39 million for the quarter, compared to analysts’ expectations of $256.80 million. United Bankshares had a return on equity of 7.77% and a net margin of 22.51%. During the same quarter in the prior year, the firm posted $0.74 EPS. On average, equities analysts predict that United Bankshares, Inc. will post 2.64 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were given a dividend of $0.37 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.48 annualized dividend and a dividend yield of 4.44%. United Bankshares’s dividend payout ratio is presently 56.49%.

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.