Dimensional Fund Advisors LP Raises Holdings in United Bankshares, Inc. $UBSI

Dimensional Fund Advisors LP lifted its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,741,908 shares of the financial services provider’s stock after acquiring an additional 24,631 shares during the quarter. Dimensional Fund Advisors LP owned approximately 5.47% of United Bankshares worth $288,076,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in UBSI. Norges Bank purchased a new position in shares of United Bankshares in the second quarter worth about $60,618,000. First Trust Advisors LP lifted its stake in shares of United Bankshares by 367.5% during the 2nd quarter. First Trust Advisors LP now owns 1,935,979 shares of the financial services provider’s stock valued at $70,528,000 after buying an additional 1,521,864 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of 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 buying an additional 307,159 shares in the last quarter. AQR Capital Management LLC boosted its holdings in United Bankshares by 100.1% in the 2nd quarter. AQR Capital Management LLC now owns 562,111 shares of the financial services provider’s stock worth $20,478,000 after buying an additional 281,190 shares during the period. Finally, Jupiter Asset Management Ltd. boosted its holdings in United Bankshares by 518.0% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 285,811 shares of the financial services provider’s stock worth $10,412,000 after buying an additional 239,567 shares during the period. Hedge funds and other institutional investors own 70.80% of the company’s stock.

United Bankshares Price Performance

Shares of United Bankshares stock opened at $40.14 on Friday. The firm has a market capitalization of $5.60 billion, a PE ratio of 12.28 and a beta of 0.76. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.10. United Bankshares, Inc. has a 12 month low of $30.50 and a 12 month high of $45.92. The business’s 50-day moving average price is $41.91 and its 200-day moving average price is $38.96.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. The business had revenue of $430.85 million during the quarter, compared to analyst estimates of $315.50 million. United Bankshares had a return on equity of 8.60% and a net margin of 25.51%.During the same quarter in the prior year, the firm earned $0.69 earnings per share. Sell-side analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.52 annualized dividend and a dividend yield of 3.8%. United Bankshares’s dividend payout ratio (DPR) is currently 46.48%.

Analyst Upgrades and Downgrades

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

About United Bankshares

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.