127,461 Shares in United Bankshares, Inc. $UBSI Acquired by OLD National Bancorp IN

OLD National Bancorp IN acquired a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 127,461 shares of the financial services provider’s stock, valued at approximately $4,895,000.

Other large investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in United Bankshares in the 3rd quarter worth approximately $25,000. Bogart Wealth LLC increased its stake in United Bankshares by 655.4% during the 3rd quarter. Bogart Wealth LLC now owns 763 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 662 shares in the last quarter. Rothschild Investment LLC increased its stake in United Bankshares by 174.8% during the 3rd quarter. Rothschild Investment LLC now owns 838 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 533 shares in the last quarter. Farther Finance Advisors LLC increased its stake in United Bankshares by 196.2% during the 4th quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 567 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in United Bankshares by 528.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 988 shares in the last quarter. Institutional investors own 70.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on UBSI. Weiss Ratings upgraded shares of United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. Keefe, Bruyette & Woods upped their price target on shares of United Bankshares from $40.00 to $43.00 and gave the company a “market perform” rating in a research note on Monday, January 26th. Zacks Research lowered shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Piper Sandler restated an “overweight” rating and set a $47.00 price target on shares of United Bankshares in a research note on Monday, January 26th. Finally, Stephens upped their price target on shares of United Bankshares from $40.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.67.

United Bankshares Stock Up 1.2%

UBSI stock opened at $43.91 on Friday. The firm’s fifty day simple moving average is $41.99 and its 200-day simple moving average is $39.90. The company has a market capitalization of $6.13 billion, a P/E ratio of 13.43 and a beta of 0.73. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.99 and a quick ratio of 0.98. United Bankshares, Inc. has a 12 month low of $33.70 and a 12 month high of $45.92.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.85 by $0.04. The business had revenue of $318.14 million for the quarter, compared to the consensus estimate of $315.15 million. United Bankshares had a net margin of 25.51% and a return on equity of 8.60%. During the same period in the prior year, the firm earned $0.59 EPS. As a group, equities research analysts forecast that United Bankshares, Inc. will post 3.54 earnings per share for the current year.

United Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, March 13th. United Bankshares’s dividend payout ratio is 46.48%.

About United Bankshares

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.