United Bankshares, Inc. $UBSI Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its position in United Bankshares, Inc. (NASDAQ:UBSI) by 1.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,624,628 shares of the financial services provider’s stock after acquiring an additional 42,255 shares during the period. Victory Capital Management Inc. owned approximately 2.56% of United Bankshares worth $134,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Focus Partners Advisor Solutions LLC acquired a new position in shares of United Bankshares in the third quarter valued at about $274,000. Segall Bryant & Hamill LLC boosted its position in United Bankshares by 19.6% in the third quarter. Segall Bryant & Hamill LLC now owns 268,985 shares of the financial services provider’s stock valued at $10,009,000 after buying an additional 44,024 shares during the last quarter. Elo Mutual Pension Insurance Co increased its holdings in United Bankshares by 92.7% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 57,795 shares of the financial services provider’s stock worth $2,151,000 after buying an additional 27,803 shares during the period. Fisher Asset Management LLC raised its position in United Bankshares by 10.1% during the 3rd quarter. Fisher Asset Management LLC now owns 1,275,425 shares of the financial services provider’s stock worth $47,459,000 after buying an additional 116,647 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its stake in United Bankshares by 12.1% during the 3rd quarter. Rafferty Asset Management LLC now owns 133,234 shares of the financial services provider’s stock valued at $4,958,000 after acquiring an additional 14,420 shares during the period. Institutional investors and hedge funds own 70.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on UBSI shares. Weiss Ratings raised shares of United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $47.00 price target on shares of United Bankshares in a report on Monday, January 26th. Stephens increased their price target on United Bankshares from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Zacks Research raised United Bankshares from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Finally, Keefe, Bruyette & Woods upped their target price on United Bankshares from $40.00 to $43.00 and gave the stock a “market perform” rating in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.67.

United Bankshares Stock Down 0.0%

UBSI opened at $41.38 on Thursday. The company has a fifty day moving average of $41.88 and a two-hundred day moving average of $38.93. The stock has a market capitalization of $5.77 billion, a price-to-earnings ratio of 12.65 and a beta of 0.76. United Bankshares, Inc. has a fifty-two week low of $30.50 and a fifty-two week high of $45.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.99 and a current ratio of 0.99.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Thursday, January 22nd. The financial services provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The firm had revenue of $430.85 million for the quarter, compared to analysts’ expectations of $315.50 million. United Bankshares had a return on equity of 8.60% and a net margin of 25.51%.During the same period last year, the firm earned $0.69 EPS. On average, research analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be given a $0.38 dividend. The ex-dividend date is Friday, March 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.7%. United Bankshares’s payout ratio is 46.48%.

United Bankshares Company Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.