AlTi Global Inc. Invests $423,000 in United Bankshares, Inc. $UBSI

AlTi Global Inc. bought a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 11,375 shares of the financial services provider’s stock, valued at approximately $423,000.

Several other large investors have also modified their holdings of UBSI. Brighton Jones LLC lifted its position in 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 acquiring an additional 748 shares during the period. Royal Bank of Canada lifted its holdings in United Bankshares by 2.0% in the 1st quarter. Royal Bank of Canada now owns 66,649 shares of the financial services provider’s stock valued at $2,310,000 after purchasing an additional 1,298 shares in the last quarter. Millennium Management LLC raised its holdings in United Bankshares by 464.1% in the 1st quarter. Millennium Management LLC now owns 137,336 shares of the financial services provider’s stock valued at $4,761,000 after acquiring an additional 112,988 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in United Bankshares by 7.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 409,428 shares of the financial services provider’s stock worth $14,195,000 after buying an additional 28,366 shares during the period. Finally, Jane Street Group LLC boosted its position in shares of United Bankshares by 564.0% in the first quarter. Jane Street Group LLC now owns 182,540 shares of the financial services provider’s stock worth $6,329,000 after acquiring an additional 155,051 shares during the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of United Bankshares in a report on Monday, December 29th. Keefe, Bruyette & Woods increased their target price on United Bankshares from $40.00 to $43.00 and gave the stock a “market perform” rating in a report on Monday, January 26th. Stephens raised their target price 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 set a $47.00 price target on shares of United Bankshares in a research report on Monday, January 26th. Finally, Zacks Research raised shares of United Bankshares from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.67.

United Bankshares Price Performance

NASDAQ UBSI opened at $44.27 on Thursday. United Bankshares, Inc. has a 1 year low of $30.50 and a 1 year high of $45.92. The company has a fifty day simple moving average of $40.73 and a 200 day simple moving average of $38.21. 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 company has a market cap of $6.22 billion, a P/E ratio of 13.54 and a beta of 0.78.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. United Bankshares had a net margin of 25.51% and a return on equity of 8.60%. The company had revenue of $430.85 million during the quarter, compared to analysts’ expectations of $315.50 million. During the same period in the prior year, the company earned $0.69 earnings per share. On average, sell-side analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 12th were given a dividend of $0.38 per share. This is a boost from United Bankshares’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Friday, December 12th. United Bankshares’s dividend payout ratio (DPR) is presently 46.48%.

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.