Campbell & CO Investment Adviser LLC Buys Shares of 17,635 United Bankshares, Inc. $UBSI

Campbell & CO Investment Adviser LLC purchased a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,635 shares of the financial services provider’s stock, valued at approximately $656,000.

Other large investors have also modified their holdings of the company. Norges Bank bought a new stake in United Bankshares in the 2nd quarter valued at about $60,618,000. First Trust Advisors LP increased its stake in shares of United Bankshares by 367.5% in the second quarter. First Trust Advisors LP now owns 1,935,979 shares of the financial services provider’s stock valued at $70,528,000 after purchasing an additional 1,521,864 shares during the period. AQR Capital Management LLC raised its holdings in shares of United Bankshares by 100.1% during the second quarter. AQR Capital Management LLC now owns 562,111 shares of the financial services provider’s stock valued at $20,478,000 after buying an additional 281,190 shares during the last quarter. Jupiter Asset Management Ltd. raised its holdings in shares of United Bankshares by 518.0% during the second quarter. Jupiter Asset Management Ltd. now owns 285,811 shares of the financial services provider’s stock valued at $10,412,000 after buying an additional 239,567 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of United Bankshares by 673.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 196,067 shares of the financial services provider’s stock worth $7,143,000 after buying an additional 170,720 shares during the period. Institutional investors and hedge funds own 70.80% of the company’s stock.

United Bankshares Stock Down 1.8%

UBSI opened at $40.46 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $5.68 billion, a PE ratio of 13.27 and a beta of 0.78. The stock’s fifty day moving average is $38.67 and its 200-day moving average is $37.54. United Bankshares, Inc. has a one year low of $30.50 and a one year high of $41.53.

United Bankshares (NASDAQ:UBSI) last released its earnings results on Thursday, October 23rd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.10. United Bankshares had a return on equity of 8.15% and a net margin of 24.37%.The firm had revenue of $280.90 million for the quarter, compared to analyst estimates of $307.78 million. During the same period in the previous year, the company earned $0.70 earnings per share. On average, equities analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Friday, December 12th. This is an increase from United Bankshares’s previous quarterly dividend of $0.37. United Bankshares’s payout ratio is presently 49.84%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Zacks Research downgraded United Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 22nd. Piper Sandler set a $42.50 price objective on shares of United Bankshares and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of United Bankshares in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.83.

United Bankshares 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.