Earnest Partners LLC Has $165.61 Million Stake in United Bankshares, Inc. $UBSI

Earnest Partners LLC lowered its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 3.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,450,747 shares of the financial services provider’s stock after selling 174,896 shares during the quarter. Earnest Partners LLC owned 3.17% of United Bankshares worth $165,612,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in United Bankshares by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 7,741,908 shares of the financial services provider’s stock worth $288,076,000 after purchasing an additional 24,631 shares during the period. Victory Capital Management Inc. raised its holdings in shares of United Bankshares by 1.2% during the third quarter. Victory Capital Management Inc. now owns 3,624,628 shares of the financial services provider’s stock valued at $134,872,000 after purchasing an additional 42,255 shares during the period. Geode Capital Management LLC raised its holdings in shares of United Bankshares by 3.2% during the second quarter. Geode Capital Management LLC now owns 3,590,552 shares of the financial services provider’s stock valued at $130,817,000 after purchasing an additional 110,305 shares during the period. First Trust Advisors LP boosted its position in shares of United Bankshares by 367.5% during the 2nd quarter. First Trust Advisors LP now owns 1,935,979 shares of the financial services provider’s stock worth $70,528,000 after purchasing an additional 1,521,864 shares in the last quarter. Finally, Norges Bank bought a new position in shares of United Bankshares during the 2nd quarter worth about $60,618,000. Institutional investors and hedge funds own 70.80% of the company’s stock.

Analyst Upgrades and Downgrades

UBSI has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods boosted their target price on United Bankshares from $40.00 to $43.00 and gave the company a “market perform” rating in a research 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 report on Friday, January 23rd. Piper Sandler restated an “overweight” rating and set a $47.00 price objective on shares of United Bankshares in a report on Monday, January 26th. Zacks Research raised United Bankshares from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Finally, Weiss Ratings upgraded United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.67.

United Bankshares Trading Down 0.2%

UBSI opened at $39.18 on Friday. United Bankshares, Inc. has a fifty-two week low of $30.50 and a fifty-two week high of $45.92. The firm has a market capitalization of $5.46 billion, a PE ratio of 11.98 and a beta of 0.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.99 and a quick ratio of 0.98. The company’s 50-day moving average is $42.01 and its 200 day moving average is $39.03.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The business had revenue of $430.85 million during the quarter, compared to the consensus estimate of $315.50 million. United Bankshares had a return on equity of 8.60% and a net margin of 25.51%.During the same quarter in the previous year, the business earned $0.69 EPS. As a group, research analysts predict that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.52 annualized dividend and a dividend yield of 3.9%. United Bankshares’s payout ratio is presently 46.48%.

United Bankshares 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.