Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in United Bankshares, Inc. (NASDAQ:UBSI)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in United Bankshares, Inc. (NASDAQ:UBSI) by 9.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 27,428 shares of the financial services provider’s stock after purchasing an additional 2,330 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in United Bankshares were worth $1,030,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of United Bankshares by 0.4% in the third quarter. Vanguard Group Inc. now owns 14,131,592 shares of the financial services provider’s stock valued at $389,891,000 after purchasing an additional 56,643 shares during the last quarter. Earnest Partners LLC raised its holdings in shares of United Bankshares by 4.8% in the third quarter. Earnest Partners LLC now owns 3,375,991 shares of the financial services provider’s stock valued at $93,144,000 after purchasing an additional 155,891 shares during the last quarter. Northern Trust Corp raised its holdings in shares of United Bankshares by 1.8% in the third quarter. Northern Trust Corp now owns 1,638,500 shares of the financial services provider’s stock valued at $45,206,000 after purchasing an additional 28,641 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of United Bankshares by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,426,339 shares of the financial services provider’s stock valued at $39,353,000 after purchasing an additional 27,235 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in shares of United Bankshares by 103.9% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,142,091 shares of the financial services provider’s stock valued at $42,885,000 after purchasing an additional 581,870 shares during the last quarter. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Raymond James raised their price objective on shares of United Bankshares from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Stephens decreased their price objective on shares of United Bankshares from $36.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $36.67.

United Bankshares Stock Performance

NASDAQ UBSI opened at $33.35 on Friday. United Bankshares, Inc. has a 52-week low of $25.35 and a 52-week high of $38.74. The company has a 50-day simple moving average of $34.22 and a 200 day simple moving average of $33.93. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $4.50 billion, a PE ratio of 12.73 and a beta of 1.00.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.01). The business had revenue of $401.39 million during the quarter, compared to analysts’ expectations of $256.80 million. United Bankshares had a return on equity of 7.77% and a net margin of 22.51%. During the same quarter in the previous year, the business earned $0.74 EPS. On average, research analysts predict that United Bankshares, Inc. will post 2.64 EPS for the current year.

United Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a $0.37 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.48 annualized dividend and a dividend yield of 4.44%. United Bankshares’s payout ratio is 56.49%.

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.