Pictet Asset Management Holding SA Acquires 4,004 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Pictet Asset Management Holding SA lifted its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 19.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,943 shares of the financial services provider’s stock after acquiring an additional 4,004 shares during the period. Pictet Asset Management Holding SA’s holdings in United Bankshares were worth $937,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of United Bankshares in the 4th quarter worth about $54,712,000. Raymond James Financial Inc. purchased a new stake in shares of United Bankshares in the fourth quarter valued at approximately $14,948,000. JPMorgan Chase & Co. grew its position in shares of United Bankshares by 39.7% during the 4th quarter. JPMorgan Chase & Co. now owns 830,774 shares of the financial services provider’s stock worth $31,196,000 after buying an additional 235,955 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of United Bankshares in the fourth quarter valued at about $7,383,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of United Bankshares in the 3rd quarter worth approximately $6,186,000. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on UBSI shares. StockNews.com cut United Bankshares from a “hold” rating to a “sell” rating in a research note on Monday, January 27th. Piper Sandler reiterated a “neutral” rating and issued a $38.50 price target on shares of United Bankshares in a research note on Wednesday, March 12th. Keefe, Bruyette & Woods dropped their price target on 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. Finally, Stephens reaffirmed an “equal weight” rating and issued a $43.00 price objective on shares of United Bankshares in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $41.88.

Insider Buying and Selling at United Bankshares

In other news, Director Sara Dumond bought 2,600 shares of the stock in a transaction dated Monday, March 24th. The shares were acquired at an average cost of $35.01 per share, with a total value of $91,026.00. Following the purchase, the director now directly owns 5,054 shares in the company, valued at $176,940.54. The trade was a 105.95 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.66% of the stock is currently owned by corporate insiders.

United Bankshares Stock Performance

Shares of UBSI opened at $31.65 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a 50-day moving average of $36.11 and a two-hundred day moving average of $37.90. The stock has a market cap of $4.53 billion, a P/E ratio of 11.55 and a beta of 0.91. United Bankshares, Inc. has a one year low of $30.51 and a one year high of $44.43.

United Bankshares (NASDAQ:UBSI) last released its earnings results on Friday, January 24th. The financial services provider reported $0.69 EPS 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 quarter in the prior year, the business earned $0.59 earnings per share. As a group, research analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 4.68%. United Bankshares’s dividend payout ratio (DPR) is presently 54.01%.

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.