10,491 Shares in United Bankshares, Inc. (NASDAQ:UBSI) Bought by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co acquired a new stake in United Bankshares, Inc. (NASDAQ:UBSI) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,491 shares of the financial services provider’s stock, valued at approximately $394,000.

Other large investors also recently modified their holdings of the company. Citigroup Inc. boosted its holdings in United Bankshares by 32.1% in the third quarter. Citigroup Inc. now owns 171,849 shares of the financial services provider’s stock valued at $6,376,000 after purchasing an additional 41,728 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of United Bankshares by 29.6% during the 3rd quarter. Cerity Partners LLC now owns 44,179 shares of the financial services provider’s stock valued at $1,639,000 after buying an additional 10,087 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of United Bankshares by 3.6% during the third quarter. Daiwa Securities Group Inc. now owns 12,328 shares of the financial services provider’s stock worth $457,000 after buying an additional 427 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of United Bankshares in the third quarter worth $268,000. Finally, FMR LLC raised its holdings in United Bankshares by 292.0% in the third quarter. FMR LLC now owns 82,997 shares of the financial services provider’s stock valued at $3,079,000 after acquiring an additional 61,822 shares in the last quarter. 70.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Sara Dumond acquired 2,600 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were acquired at an average price of $35.01 per share, with a total value of $91,026.00. Following the acquisition, the director now directly owns 5,054 shares in the company, valued at approximately $176,940.54. The trade was a 105.95 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on UBSI shares. 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. Stephens reissued an “equal weight” rating and issued a $43.00 price objective on shares of United Bankshares in a report on Monday, January 27th. Piper Sandler reaffirmed a “neutral” rating and set a $38.50 target price on shares of United Bankshares in a report on Wednesday, March 12th. Finally, StockNews.com lowered United Bankshares from a “hold” rating to a “sell” rating in a research report on Monday, January 27th. One research 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, the stock currently has an average rating of “Hold” and an average target price of $41.88.

United Bankshares Price Performance

UBSI opened at $34.40 on Monday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The company’s 50-day moving average price is $36.60 and its 200 day moving average price is $38.02. United Bankshares, Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $44.43. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 12.55 and a beta of 0.98.

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, 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 prior year, the business posted $0.59 EPS. As a group, sell-side analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date is Friday, March 14th. United Bankshares’s payout ratio is 54.01%.

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.