Norges Bank Invests $68.37 Million in United Bankshares, Inc. $UBSI

Norges Bank bought a new position in United Bankshares, Inc. (NASDAQ:UBSI) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 1,780,352 shares of the financial services provider’s stock, valued at approximately $68,366,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Eurizon Capital SGR S.p.A. purchased a new position in shares of United Bankshares in the 4th quarter worth approximately $26,000. Hillsdale Investment Management Inc. purchased a new position in shares of United Bankshares in the 4th quarter worth approximately $73,000. Rothschild Investment LLC boosted its holdings in shares of United Bankshares by 47.5% in the 4th quarter. Rothschild Investment LLC now owns 1,236 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 398 shares during the period. Geode Capital Management LLC boosted its holdings in shares of United Bankshares by 5.1% in the 4th quarter. Geode Capital Management LLC now owns 3,802,338 shares of the financial services provider’s stock worth $146,030,000 after purchasing an additional 183,950 shares during the period. Finally, Smithfield Trust Co purchased a new position in shares of United Bankshares in the 4th quarter worth approximately $135,000. Hedge funds and other institutional investors own 70.80% of the company’s stock.

United Bankshares Price Performance

Shares of UBSI stock opened at $43.90 on Friday. United Bankshares, Inc. has a 52-week low of $34.10 and a 52-week high of $45.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $6.05 billion, a P/E ratio of 12.30 and a beta of 0.71. The stock has a 50 day moving average price of $43.03 and a 200 day moving average price of $41.34.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. United Bankshares had a return on equity of 9.26% and a net margin of 27.45%.The firm had revenue of $316.58 million during the quarter, compared to analyst estimates of $315.15 million. During the same period last year, the company earned $0.59 EPS. As a group, sell-side analysts predict that United Bankshares, Inc. will post 3.64 earnings per share for the current year.

United Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, June 12th. United Bankshares’s dividend payout ratio (DPR) is currently 42.58%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on UBSI shares. Zacks Research cut United Bankshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Raymond James Financial reiterated an “outperform” rating and issued a $49.00 target price on shares of United Bankshares in a report on Monday, April 27th. Finally, Weiss Ratings upgraded United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, United Bankshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.75.

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.