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

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 10.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 124,709 shares of the financial services provider’s stock after purchasing an additional 11,711 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.09% of United Bankshares worth $4,683,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in United Bankshares during the 4th quarter valued at $54,712,000. Raymond James Financial Inc. purchased a new position in United Bankshares during the 4th quarter valued at $14,948,000. JPMorgan Chase & Co. boosted its holdings 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 valued at $31,196,000 after acquiring an additional 235,955 shares during the period. Northern Trust Corp boosted its holdings in United Bankshares by 13.7% during the 4th quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider’s stock valued at $66,614,000 after acquiring an additional 213,441 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in United Bankshares during the 4th quarter valued at $7,383,000. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods dropped their price objective on United Bankshares from $42.00 to $40.00 and set a “market perform” rating for the company in a report on Monday, April 28th. StockNews.com upgraded United Bankshares from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Stephens reaffirmed an “equal weight” rating and set a $43.00 target price on shares of United Bankshares in a research report on Monday, January 27th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $38.50 target price on shares of United Bankshares in a research report on Wednesday, March 12th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.63.

United Bankshares Trading Down 0.3%

Shares of NASDAQ UBSI opened at $37.22 on Monday. 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 business has a fifty day simple moving average of $34.29 and a two-hundred day simple moving average of $37.25. The firm has a market cap of $5.29 billion, a PE ratio of 13.58 and a beta of 0.74. United Bankshares, Inc. has a twelve month low of $30.51 and a twelve month high of $44.43.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.07). The firm had revenue of $289.61 million for the quarter, compared to the consensus estimate of $279.02 million. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share. Analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

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

Insider Transactions at United Bankshares

In related news, Director Sara Dumond purchased 2,600 shares of United Bankshares stock in a transaction dated Monday, March 24th. The stock was purchased at an average cost of $35.01 per share, with a total value of $91,026.00. Following the transaction, the director now owns 5,054 shares in the company, valued at approximately $176,940.54. The trade was a 105.95% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.46% of the company’s stock.

United Bankshares Company 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.