Legal & General Group Plc Has $8.15 Million Stock Holdings in United Bankshares, Inc. $UBSI

Legal & General Group Plc trimmed its position in shares of United Bankshares, Inc. (NASDAQ:UBSIFree Report) by 8.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 212,239 shares of the financial services provider’s stock after selling 18,709 shares during the period. Legal & General Group Plc’s holdings in United Bankshares were worth $8,150,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Ritholtz Wealth Management raised its position in shares of United Bankshares by 2.6% during the fourth quarter. Ritholtz Wealth Management now owns 9,216 shares of the financial services provider’s stock worth $354,000 after acquiring an additional 237 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of United Bankshares by 24.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,492 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 292 shares during the last quarter. Kestra Private Wealth Services LLC raised its position in shares of United Bankshares by 1.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 27,609 shares of the financial services provider’s stock worth $1,060,000 after acquiring an additional 297 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of United Bankshares by 2.9% during the third quarter. Jones Financial Companies Lllp now owns 12,266 shares of the financial services provider’s stock worth $458,000 after acquiring an additional 343 shares during the last quarter. Finally, Rothschild Investment LLC raised its position in shares of United Bankshares by 174.8% during the third quarter. Rothschild Investment LLC now owns 838 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 533 shares during the last quarter. 70.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

View Our Latest Stock Analysis on United Bankshares

United Bankshares Trading Up 0.4%

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

United Bankshares (NASDAQ:UBSIGet Free Report) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. The business had revenue of $316.58 million during the quarter, compared to the consensus estimate of $315.15 million. United Bankshares had a return on equity of 9.26% and a net margin of 27.45%.During the same period in the previous year, the company posted $0.59 earnings per share. Research analysts forecast that United Bankshares, Inc. will post 3.64 earnings per share for the current year.

United Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Friday, June 12th. United Bankshares’s payout ratio is presently 42.58%.

About United Bankshares

(Free Report)

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.

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Institutional Ownership by Quarter for United Bankshares (NASDAQ:UBSI)

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