Horizon Investments LLC Buys New Stake in United Bankshares, Inc. (NASDAQ:UBSI)

Horizon Investments LLC bought a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) in the 4th quarter, Holdings Channel reports. The institutional investor bought 3,769 shares of the financial services provider’s stock, valued at approximately $142,000.

Several other institutional investors also recently bought and sold shares of UBSI. Natixis Advisors LLC grew its stake in United Bankshares by 21.0% during the third quarter. Natixis Advisors LLC now owns 336,029 shares of the financial services provider’s stock valued at $12,466,000 after acquiring an additional 58,274 shares in the last quarter. Quest Partners LLC grew its stake in United Bankshares by 377.2% during the third quarter. Quest Partners LLC now owns 5,641 shares of the financial services provider’s stock valued at $209,000 after acquiring an additional 4,459 shares in the last quarter. LMR Partners LLP purchased a new position in United Bankshares during the third quarter valued at $277,000. PNC Financial Services Group Inc. grew its stake in United Bankshares by 4.9% during the third quarter. PNC Financial Services Group Inc. now owns 37,149 shares of the financial services provider’s stock valued at $1,378,000 after acquiring an additional 1,744 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its stake in United Bankshares by 10.7% during the third quarter. Segall Bryant & Hamill LLC now owns 213,238 shares of the financial services provider’s stock valued at $7,911,000 after acquiring an additional 20,591 shares in the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.

United Bankshares Stock Down 1.3 %

Shares of United Bankshares stock opened at $34.71 on Friday. The firm’s 50 day moving average price is $36.91 and its 200-day moving average price is $38.12. 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, Inc. has a 52-week low of $30.68 and a 52-week high of $44.43. The company has a market cap of $4.97 billion, a P/E ratio of 12.67 and a beta of 0.98.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Friday, January 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. During the same period in the prior year, the company posted $0.59 EPS. On average, sell-side analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date is Friday, March 14th. United Bankshares’s payout ratio is currently 54.01%.

Analysts Set New Price Targets

Several equities analysts have commented on UBSI shares. Piper Sandler reiterated a “neutral” rating and set a $38.50 price objective on shares of United Bankshares in a research report on Wednesday, March 12th. StockNews.com lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Monday, January 27th. Stephens reiterated an “equal weight” rating and set a $43.00 price objective on shares of United Bankshares in a 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 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.