State of New Jersey Common Pension Fund D Has $1.90 Million Stock Position in United Bankshares, Inc. $UBSI

State of New Jersey Common Pension Fund D trimmed its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 4.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,130 shares of the financial services provider’s stock after selling 2,564 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in United Bankshares were worth $1,899,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in UBSI. Nuveen LLC acquired a new stake in United Bankshares during the first quarter valued at approximately $28,526,000. Jacobs Levy Equity Management Inc. acquired a new stake in United Bankshares during the first quarter valued at approximately $10,856,000. Jane Street Group LLC boosted its holdings in United Bankshares by 564.0% during the first quarter. Jane Street Group LLC now owns 182,540 shares of the financial services provider’s stock valued at $6,329,000 after purchasing an additional 155,051 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of United Bankshares by 464.1% in the 1st quarter. Millennium Management LLC now owns 137,336 shares of the financial services provider’s stock worth $4,761,000 after acquiring an additional 112,988 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of United Bankshares by 199.6% in the 1st quarter. Cubist Systematic Strategies LLC now owns 155,550 shares of the financial services provider’s stock worth $5,393,000 after acquiring an additional 103,632 shares in the last quarter. 70.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UBSI has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of United Bankshares in a report on Thursday. Zacks Research raised United Bankshares to a “hold” rating in a report on Friday, August 8th. Finally, Piper Sandler set a $42.50 target price on United Bankshares and gave the stock an “overweight” rating in a report on Thursday, October 23rd. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $41.83.

United Bankshares Stock Up 0.1%

NASDAQ:UBSI opened at $35.79 on Friday. The stock’s fifty day moving average price is $37.06 and its two-hundred day moving average price is $36.50. United Bankshares, Inc. has a 52-week low of $30.50 and a 52-week high of $44.43. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 11.73 and a beta of 0.76.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.10. The firm had revenue of $324.10 million for the quarter, compared to the consensus estimate of $307.78 million. United Bankshares had a return on equity of 8.15% and a net margin of 24.37%.During the same quarter in the prior year, the business earned $0.70 EPS. On average, analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were given a dividend of $0.37 per share. The ex-dividend date was Friday, September 12th. This represents a $1.48 annualized dividend and a dividend yield of 4.1%. United Bankshares’s payout ratio is presently 48.52%.

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.