Fisher Asset Management LLC Has $47.46 Million Position in United Bankshares, Inc. $UBSI

Fisher Asset Management LLC grew its position in United Bankshares, Inc. (NASDAQ:UBSI) by 10.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,275,425 shares of the financial services provider’s stock after purchasing an additional 116,647 shares during the period. Fisher Asset Management LLC owned about 0.90% of United Bankshares worth $47,459,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Rafferty Asset Management LLC boosted its position in United Bankshares by 12.1% in the third quarter. Rafferty Asset Management LLC now owns 133,234 shares of the financial services provider’s stock valued at $4,958,000 after buying an additional 14,420 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of United Bankshares by 19.6% in the third quarter. Handelsbanken Fonder AB now owns 35,946 shares of the financial services provider’s stock valued at $1,338,000 after acquiring an additional 5,900 shares during the last quarter. Synovus Financial Corp boosted its holdings in shares of United Bankshares by 12.8% in the 3rd quarter. Synovus Financial Corp now owns 35,583 shares of the financial services provider’s stock worth $1,324,000 after acquiring an additional 4,048 shares in the last quarter. Rothschild Investment LLC grew its position in United Bankshares by 174.8% during the 3rd quarter. Rothschild Investment LLC now owns 838 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 533 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in United Bankshares by 64.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 782,292 shares of the financial services provider’s stock valued at $29,109,000 after purchasing an additional 307,159 shares in the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

United Bankshares Stock Down 1.1%

Shares of NASDAQ UBSI opened at $41.39 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $5.77 billion, a PE ratio of 12.66 and a beta of 0.76. The firm’s 50-day moving average is $41.84 and its 200-day moving average is $38.91. United Bankshares, Inc. has a 1 year low of $30.50 and a 1 year high of $45.92.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. The business had revenue of $430.85 million for the quarter, compared to analyst estimates of $315.50 million. United Bankshares had a net margin of 25.51% and a return on equity of 8.60%. During the same period in the prior year, the business posted $0.69 earnings per share. Equities analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, March 13th. United Bankshares’s dividend payout ratio is currently 46.48%.

Analysts Set New Price Targets

A number of equities analysts have commented on UBSI shares. Zacks Research raised United Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Stephens increased their price objective on shares of United Bankshares from $40.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Piper Sandler restated an “overweight” rating and issued a $47.00 price objective on shares of United Bankshares in a research report on Monday, January 26th. Keefe, Bruyette & Woods upped their target price on shares of United Bankshares from $40.00 to $43.00 and gave the stock a “market perform” rating in a research report on Monday, January 26th. Finally, Weiss Ratings raised shares of United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, United Bankshares presently has an average rating of “Moderate Buy” and an average target price of $44.67.

United Bankshares Company Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.