California Public Employees Retirement System Sells 5,167 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

California Public Employees Retirement System cut its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 2.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 233,049 shares of the financial services provider’s stock after selling 5,167 shares during the period. California Public Employees Retirement System’s holdings in United Bankshares were worth $8,751,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in shares of United Bankshares during the 4th quarter worth approximately $26,000. Jones Financial Companies Lllp grew its position in United Bankshares by 55.8% in the fourth quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB increased its stake in United Bankshares by 1,921.1% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider’s stock valued at $54,000 after buying an additional 1,364 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in United Bankshares by 37.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider’s stock worth $56,000 after buying an additional 400 shares in the last quarter. Finally, Principal Securities Inc. boosted its stake in shares of United Bankshares by 10.1% during the 4th quarter. Principal Securities Inc. now owns 3,115 shares of the financial services provider’s stock worth $117,000 after buying an additional 285 shares during the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on UBSI shares. Stephens reissued an “equal weight” rating and set a $43.00 price target on shares of United Bankshares in a research report on Monday, January 27th. 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. StockNews.com lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of United Bankshares from $46.00 to $45.00 and set a “market perform” rating for the company in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, United Bankshares has an average rating of “Hold” and an average price target of $41.88.

United Bankshares Stock Performance

Shares of NASDAQ UBSI opened at $31.65 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $4.53 billion, a P/E ratio of 11.55 and a beta of 0.91. United Bankshares, Inc. has a 12 month low of $30.51 and a 12 month high of $44.43. The stock has a 50 day moving average of $36.11 and a 200-day moving average of $37.90.

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

United Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 4.68%. The ex-dividend date was Friday, March 14th. United Bankshares’s payout ratio is 54.01%.

Insider Activity at United Bankshares

In related news, Director Sara Dumond acquired 2,600 shares of the business’s stock in a transaction on 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 completion of the transaction, the director now directly owns 5,054 shares of the company’s stock, valued at approximately $176,940.54. The trade was a 105.95 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.66% of the stock is owned by company insiders.

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.