MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stock Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 10.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 124,709 shares of the financial services provider’s stock after purchasing an additional 11,711 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in United Bankshares were worth $4,683,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. purchased a new position in United Bankshares during the 4th quarter worth $7,383,000. Truist Financial Corp grew its stake in United Bankshares by 69.8% during the 4th quarter. Truist Financial Corp now owns 22,916 shares of the financial services provider’s stock worth $860,000 after buying an additional 9,418 shares during the last quarter. Barclays PLC grew its stake in United Bankshares by 89.5% during the 3rd quarter. Barclays PLC now owns 269,852 shares of the financial services provider’s stock worth $10,012,000 after buying an additional 127,486 shares during the last quarter. JPMorgan Chase & Co. grew its stake in United Bankshares by 39.7% during the 4th quarter. JPMorgan Chase & Co. now owns 830,774 shares of the financial services provider’s stock worth $31,196,000 after buying an additional 235,955 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in United Bankshares by 12.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,656 shares of the financial services provider’s stock worth $214,000 after buying an additional 608 shares during the last quarter. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on UBSI shares. Keefe, Bruyette & Woods dropped their target price on United Bankshares from $42.00 to $40.00 and set a “market perform” rating on the stock in a research note on Monday, April 28th. StockNews.com upgraded United Bankshares from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Piper Sandler reiterated a “neutral” rating and set a $38.50 price target on shares of United Bankshares in a research note on Wednesday, March 12th. Finally, Stephens reiterated an “equal weight” rating and set a $43.00 price target on shares of United Bankshares in a research note on Monday, January 27th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, United Bankshares currently has an average rating of “Hold” and a consensus target price of $40.63.

Insider Transactions at United Bankshares

In other United Bankshares news, Director Sara Dumond purchased 2,600 shares of United Bankshares stock in a transaction that occurred on Monday, March 24th. The stock was bought at an average price of $35.01 per share, with a total value of $91,026.00. Following the acquisition, the director now owns 5,054 shares of the company’s stock, valued at $176,940.54. This trade represents a 105.95% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.46% of the company’s stock.

United Bankshares Stock Down 0.3%

Shares of UBSI opened at $37.22 on Monday. United Bankshares, Inc. has a 52 week low of $30.51 and a 52 week high of $44.43. 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 has a market capitalization of $5.29 billion, a price-to-earnings ratio of 13.58 and a beta of 0.74. The stock’s 50-day moving average price is $34.29 and its 200-day moving average price is $37.25.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.07). United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. The company had revenue of $289.61 million during the quarter, compared to analysts’ expectations of $279.02 million. During the same quarter in the previous year, the company earned $0.64 EPS. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. On average, sell-side analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.37 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.98%. United Bankshares’s payout ratio is 55.02%.

United Bankshares Profile

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.