Meeder Asset Management Inc. Has $40,000 Stock Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Meeder Asset Management Inc. lifted its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 144.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,155 shares of the financial services provider’s stock after acquiring an additional 682 shares during the quarter. Meeder Asset Management Inc.’s holdings in United Bankshares were worth $40,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC grew its position in shares of United Bankshares by 4.6% during the 4th quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider’s stock worth $634,000 after buying an additional 748 shares during the period. American Century Companies Inc. boosted its stake in United Bankshares by 23.9% during the fourth quarter. American Century Companies Inc. now owns 94,630 shares of the financial services provider’s stock worth $3,553,000 after acquiring an additional 18,246 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in United Bankshares by 39.7% in the fourth quarter. JPMorgan Chase & Co. now owns 830,774 shares of the financial services provider’s stock worth $31,196,000 after purchasing an additional 235,955 shares during the period. Norges Bank bought a new stake in United Bankshares in the fourth quarter valued at $54,712,000. Finally, 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 in the last quarter. 70.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

UBSI has been the topic of a number of recent research reports. Wall Street Zen cut United Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Keefe, Bruyette & Woods dropped their price objective on shares of United Bankshares from $42.00 to $40.00 and set a “market perform” rating on the stock in a research note on Monday, April 28th.

United Bankshares Trading Down 0.9%

Shares of UBSI opened at $35.52 on Friday. United Bankshares, Inc. has a fifty-two week low of $30.50 and a fifty-two week high of $44.43. The business has a 50-day moving average of $36.56 and a 200 day moving average of $36.00. The firm has a market cap of $5.05 billion, a P/E ratio of 12.55 and a beta of 0.76. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.08. United Bankshares had a return on equity of 7.65% and a net margin of 23.14%. The firm had revenue of $306.00 million for the quarter, compared to the consensus estimate of $297.98 million. During the same quarter in the prior year, the business posted $0.71 earnings per share. As a group, research analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were given a dividend of $0.37 per share. The ex-dividend date was Friday, June 13th. This represents a $1.48 annualized dividend and a yield of 4.2%. United Bankshares’s payout ratio is presently 52.30%.

United Bankshares 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.