Zacks Investment Management Buys 976 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Zacks Investment Management raised its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 8.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,007 shares of the financial services provider’s stock after purchasing an additional 976 shares during the period. Zacks Investment Management’s holdings in United Bankshares were worth $451,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of UBSI. NewEdge Advisors LLC grew its stake in shares of United Bankshares by 9.5% during the 4th quarter. NewEdge Advisors LLC now owns 38,990 shares of the financial services provider’s stock worth $1,464,000 after acquiring an additional 3,396 shares during the period. Gamco Investors INC. ET AL bought a new position in United Bankshares during the fourth quarter worth about $282,000. Ontario Teachers Pension Plan Board boosted its position in United Bankshares by 58.0% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 20,403 shares of the financial services provider’s stock worth $766,000 after purchasing an additional 7,492 shares during the period. Mariner LLC increased its stake in shares of United Bankshares by 2.4% in the fourth quarter. Mariner LLC now owns 24,207 shares of the financial services provider’s stock worth $909,000 after purchasing an additional 568 shares in the last quarter. Finally, Barclays PLC raised its position in shares of United Bankshares by 26.0% in the fourth quarter. Barclays PLC now owns 339,899 shares of the financial services provider’s stock valued at $12,762,000 after purchasing an additional 70,047 shares during the period. 70.80% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at United Bankshares

In related news, Director Sara Dumond bought 2,600 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was bought 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 owns 5,054 shares of the company’s stock, valued at approximately $176,940.54. The trade was a 105.95 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.66% of the company’s stock.

United Bankshares Trading Up 0.2 %

Shares of UBSI stock opened at $33.51 on Friday. The company has a market capitalization of $4.81 billion, a PE ratio of 12.23 and a beta of 0.91. United Bankshares, Inc. has a 52-week low of $30.51 and a 52-week high of $44.43. The business’s fifty day moving average is $34.67 and its 200 day moving average is $37.51. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share 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 period in the previous year, the company posted $0.59 EPS. On average, equities research analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 4.42%. United Bankshares’s dividend payout ratio is presently 54.01%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. StockNews.com lowered shares of 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 set a $38.50 price objective on shares of United Bankshares in a research note on Wednesday, March 12th. Stephens restated an “equal weight” rating and issued a $43.00 target price on shares of United Bankshares in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods reduced their target price on United Bankshares from $46.00 to $45.00 and set a “market perform” rating for the company in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, United Bankshares currently has a consensus rating of “Hold” and an average price target of $41.88.

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.