BNP Paribas Financial Markets Decreases Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

BNP Paribas Financial Markets lowered its position in United Bankshares, Inc. (NASDAQ:UBSI) by 48.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,357 shares of the financial services provider’s stock after selling 24,596 shares during the period. BNP Paribas Financial Markets’ holdings in United Bankshares were worth $990,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of UBSI. Vanguard Group Inc. grew its holdings in United Bankshares by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,310,562 shares of the financial services provider’s stock valued at $537,362,000 after purchasing an additional 115,681 shares during the last quarter. Earnest Partners LLC boosted its position in shares of United Bankshares by 0.7% in the 4th quarter. Earnest Partners LLC now owns 4,199,136 shares of the financial services provider’s stock worth $157,678,000 after buying an additional 29,898 shares in the last quarter. Northern Trust Corp grew its stake in United Bankshares by 13.7% in 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 last quarter. Charles Schwab Investment Management Inc. increased its holdings in United Bankshares by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,710,588 shares of the financial services provider’s stock valued at $64,233,000 after acquiring an additional 37,532 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in United Bankshares by 3.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,612,170 shares of the financial services provider’s stock valued at $60,538,000 after acquiring an additional 54,089 shares in the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at United Bankshares

In related news, Director Sara Dumond acquired 2,600 shares of the stock in a transaction dated Monday, March 24th. The stock was bought at an average cost of $35.01 per share, with a total value of $91,026.00. Following the purchase, the director now directly owns 5,054 shares of the company’s stock, valued at approximately $176,940.54. This represents a 105.95% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.46% of the stock is owned by company insiders.

United Bankshares Stock Down 0.4%

Shares of NASDAQ UBSI opened at $37.18 on Wednesday. United Bankshares, Inc. has a 1 year low of $30.51 and a 1 year high of $44.43. The firm’s 50 day moving average price is $34.42 and its 200 day moving average price is $37.25. The firm has a market cap of $5.28 billion, a P/E ratio of 13.57 and a beta of 0.74. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.07). The business had revenue of $289.61 million for the quarter, compared to analyst estimates of $279.02 million. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. United Bankshares’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 EPS. As a group, sell-side analysts anticipate that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

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

Analysts Set New Price Targets

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

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.