Retirement Systems of Alabama Purchases 517 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Retirement Systems of Alabama boosted its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 168,997 shares of the financial services provider’s stock after purchasing an additional 517 shares during the quarter. Retirement Systems of Alabama’s holdings in United Bankshares were worth $6,346,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Fifth Third Bancorp raised its position in shares of United Bankshares by 206.0% during the 4th quarter. Fifth Third Bancorp now owns 976 shares of the financial services provider’s stock valued at $37,000 after buying an additional 657 shares in the last quarter. Key Financial Inc boosted its holdings in shares of United Bankshares by 735.6% in the 3rd quarter. Key Financial Inc now owns 1,830 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 1,611 shares during the period. Anchor Investment Management LLC bought a new position in shares of United Bankshares during the 4th quarter valued at approximately $95,000. Covestor Ltd raised its holdings in United Bankshares by 133.7% during the 3rd quarter. Covestor Ltd now owns 3,659 shares of the financial services provider’s stock valued at $101,000 after buying an additional 2,093 shares during the period. Finally, Courier Capital LLC bought a new stake in United Bankshares in the fourth quarter worth $217,000. Institutional investors own 70.80% of the company’s stock.

Analysts Set New Price Targets

UBSI has been the topic of a number of analyst reports. Keefe, Bruyette & Woods cut their price objective on shares of United Bankshares from $40.00 to $38.00 and set a “market perform” rating on the stock in a research report on Friday. Stephens reduced their price objective on shares of United Bankshares from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, United Bankshares presently has a consensus rating of “Hold” and an average target price of $37.00.

United Bankshares Trading Up 0.4 %

NASDAQ UBSI opened at $33.96 on Friday. The stock has a market cap of $4.59 billion, a PE ratio of 12.96 and a beta of 1.01. United Bankshares, Inc. has a 12 month low of $25.35 and a 12 month high of $38.74. The company’s 50-day moving average price is $34.08 and its 200-day moving average price is $34.18. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.36.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). United Bankshares had a return on equity of 7.72% and a net margin of 22.51%. The company had revenue of $401.39 million during the quarter, compared to the consensus estimate of $256.80 million. During the same quarter in the prior year, the company earned $0.74 earnings per share. Equities research analysts forecast that United Bankshares, Inc. will post 2.63 earnings per share for the current year.

United Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.36%. The ex-dividend date was Thursday, March 7th. United Bankshares’s dividend payout ratio is 56.49%.

About United Bankshares

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.