Geode Capital Management LLC Buys 183,950 Shares of United Bankshares, Inc. $UBSI

Geode Capital Management LLC grew its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 5.1% in the fourth quarter, HoldingsChannel reports. The fund owned 3,802,338 shares of the financial services provider’s stock after acquiring an additional 183,950 shares during the period. Geode Capital Management LLC’s holdings in United Bankshares were worth $146,030,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of UBSI. Brighton Jones LLC raised its stake in shares of United Bankshares by 4.6% in the fourth quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider’s stock worth $634,000 after acquiring an additional 748 shares during the last quarter. Royal Bank of Canada raised its stake in shares of United Bankshares by 2.0% in the first quarter. Royal Bank of Canada now owns 66,649 shares of the financial services provider’s stock worth $2,310,000 after acquiring an additional 1,298 shares during the last quarter. Millennium Management LLC raised its stake in shares of United Bankshares by 464.1% in the first quarter. Millennium Management LLC now owns 137,336 shares of the financial services provider’s stock worth $4,761,000 after acquiring an additional 112,988 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of United Bankshares by 7.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 409,428 shares of the financial services provider’s stock worth $14,195,000 after acquiring an additional 28,366 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in shares of United Bankshares by 564.0% in the first quarter. Jane Street Group LLC now owns 182,540 shares of the financial services provider’s stock worth $6,329,000 after acquiring an additional 155,051 shares during the last quarter. 70.80% of the stock is owned by institutional investors.

United Bankshares Stock Up 2.7%

Shares of NASDAQ:UBSI opened at $43.72 on Friday. United Bankshares, Inc. has a one year low of $34.10 and a one year high of $45.92. The company has a 50 day moving average of $42.97 and a 200-day moving average of $41.32. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $6.02 billion, a price-to-earnings ratio of 12.25 and a beta of 0.71.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.85 by $0.04. United Bankshares had a net margin of 27.45% and a return on equity of 9.26%. The company had revenue of $316.58 million during the quarter, compared to analysts’ expectations of $315.15 million. During the same quarter in the previous year, the company earned $0.59 EPS. On average, sell-side 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 declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, June 12th. This represents a $1.52 annualized dividend and a dividend yield of 3.5%. United Bankshares’s payout ratio is currently 42.58%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on UBSI shares. Zacks Research downgraded shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Raymond James Financial reaffirmed an “outperform” rating and issued a $49.00 target price on shares of United Bankshares in a research note on Monday, April 27th. Finally, Weiss Ratings raised shares of United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.75.

About United Bankshares

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.