Bronfman E.L. Rothschild L.P. grew its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 47.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 140,181 shares of the financial services provider’s stock after acquiring an additional 44,872 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in United Bankshares were worth $4,361,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in UBSI. Oregon Public Employees Retirement Fund increased its position in shares of United Bankshares by 3,011.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,291,812 shares of the financial services provider’s stock valued at $42,000 after buying an additional 1,250,288 shares during the period. BlackRock Inc. increased its position in shares of United Bankshares by 3.2% during the fourth quarter. BlackRock Inc. now owns 14,488,480 shares of the financial services provider’s stock valued at $450,737,000 after buying an additional 448,888 shares during the period. Dimensional Fund Advisors LP increased its position in shares of United Bankshares by 9.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,609,029 shares of the financial services provider’s stock valued at $143,386,000 after buying an additional 403,409 shares during the period. Vanguard Group Inc increased its position in shares of United Bankshares by 3.1% during the third quarter. Vanguard Group Inc now owns 9,611,137 shares of the financial services provider’s stock valued at $349,365,000 after buying an additional 285,093 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of United Bankshares by 3.1% during the third quarter. Vanguard Group Inc. now owns 9,611,137 shares of the financial services provider’s stock valued at $349,365,000 after buying an additional 285,093 shares during the period. Hedge funds and other institutional investors own 70.31% of the company’s stock.
In other United Bankshares news, Director P Clinton Winter acquired 1,000 shares of the business’s stock in a transaction dated Thursday, December 27th. The stock was bought at an average price of $29.70 per share, with a total value of $29,700.00. Following the completion of the acquisition, the director now owns 446,511 shares of the company’s stock, valued at $13,261,376.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Richard M. Adams, Jr. sold 14,790 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $37.97, for a total value of $561,576.30. The disclosure for this sale can be found here. 5.15% of the stock is currently owned by insiders.
Shares of UBSI opened at $37.47 on Friday. United Bankshares, Inc. has a twelve month low of $29.13 and a twelve month high of $39.95. The stock has a market cap of $3.80 billion, a PE ratio of 15.29, a P/E/G ratio of 1.85 and a beta of 1.27. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51.
United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Tuesday, January 29th. The financial services provider reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.01. United Bankshares had a return on equity of 7.89% and a net margin of 30.28%. The firm had revenue of $176.53 million for the quarter, compared to analysts’ expectations of $180.53 million. During the same period in the prior year, the business posted $0.53 earnings per share. As a group, sell-side analysts predict that United Bankshares, Inc. will post 2.51 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 8th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Thursday, March 7th. United Bankshares’s payout ratio is 55.51%.
Several equities research analysts have recently weighed in on the company. BidaskClub upgraded United Bankshares from a “sell” rating to a “hold” rating in a research report on Saturday, February 9th. Zacks Investment Research upgraded United Bankshares from a “sell” rating to a “hold” rating in a research report on Tuesday, January 29th. Five research analysts have rated the stock with a hold rating, United Bankshares has a consensus rating of “Hold” and a consensus price target of $40.00.
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About United Bankshares
United Bankshares, Inc, a financial holding company, 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.
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