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

HighTower Advisors LLC grew its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 16.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 22,683 shares of the financial services provider’s stock after acquiring an additional 3,141 shares during the period. 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 recently made changes to their positions in UBSI. Geode Capital Management LLC boosted its position in shares of United Bankshares by 1.7% during the third quarter. Geode Capital Management LLC now owns 3,306,542 shares of the financial services provider’s stock valued at $122,695,000 after purchasing an additional 53,994 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of United Bankshares by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,710,588 shares of the financial services provider’s stock valued at $64,233,000 after buying an additional 37,532 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its position in shares of United Bankshares by 3.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,612,170 shares of the financial services provider’s stock worth $60,538,000 after buying an additional 54,089 shares during the period. JPMorgan Chase & Co. increased its stake in shares of United Bankshares by 9.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 594,819 shares of the financial services provider’s stock worth $22,068,000 after acquiring an additional 52,949 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in United Bankshares by 1.3% during the 4th quarter. Rhumbline Advisers now owns 455,157 shares of the financial services provider’s stock valued at $17,091,000 after acquiring an additional 6,002 shares during the period. Institutional investors own 70.80% of the company’s stock.

Insider Transactions at United Bankshares

In other news, Director Sara Dumond bought 2,600 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now owns 5,054 shares of the company’s stock, valued at approximately $176,940.54. This trade represents a 105.95 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.66% of the company’s stock.

United Bankshares Price Performance

Shares of UBSI opened at $34.86 on Friday. United Bankshares, Inc. has a twelve month low of $30.68 and a twelve month high of $44.43. The company has a market capitalization of $4.99 billion, a P/E ratio of 12.72 and a beta of 0.98. The firm has a 50 day moving average of $36.68 and a 200 day moving average of $38.02. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate 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 in the previous year, the company earned $0.59 earnings per share. As a group, equities research analysts anticipate that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

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

Analyst Ratings Changes

UBSI has been the topic of a number of recent research reports. Stephens restated an “equal weight” rating and issued a $43.00 price objective on shares of United Bankshares in a report on Monday, January 27th. Keefe, Bruyette & Woods cut 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. StockNews.com cut United Bankshares from a “hold” rating to a “sell” rating in a research note on Monday, January 27th. Finally, Piper Sandler reissued a “neutral” rating and issued a $38.50 target price on shares of United Bankshares in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, United Bankshares currently has a consensus rating of “Hold” and a consensus price target of $41.88.

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.