United Bankshares, Inc. (NASDAQ:UBSI) Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. increased its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 7.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 381,439 shares of the financial services provider’s stock after acquiring an additional 27,977 shares during the quarter. Ameriprise Financial Inc. owned about 0.28% of United Bankshares worth $14,331,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in United Bankshares in the fourth quarter valued at $26,000. Jones Financial Companies Lllp increased its stake in United Bankshares by 55.8% in the fourth quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 310 shares during the period. Wilmington Savings Fund Society FSB increased its stake in United Bankshares by 1,921.1% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 1,364 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in United Bankshares by 37.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 400 shares during the period. Finally, Headlands Technologies LLC acquired a new position in United Bankshares in the fourth quarter valued at $85,000. 70.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director Sara Dumond acquired 2,600 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were purchased at an average price of $35.01 per share, with a total value of $91,026.00. Following the completion of the acquisition, the director now owns 5,054 shares in the company, valued at approximately $176,940.54. This represents a 105.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.46% of the stock is owned by insiders.

United Bankshares Stock Down 0.3%

Shares of NASDAQ:UBSI opened at $37.22 on Friday. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 13.58 and a beta of 0.74. The firm’s 50-day simple moving average is $34.29 and its 200-day simple moving average is $37.25. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. United Bankshares, Inc. has a fifty-two week low of $30.51 and a fifty-two week high of $44.43.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.07). The company had revenue of $289.61 million for the quarter, compared to analysts’ expectations of $279.02 million. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 EPS. As a group, equities research analysts predict that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Friday, June 13th. United Bankshares’s dividend payout ratio is currently 55.02%.

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.