United Bankshares, Inc. $UBSI Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 64.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 782,292 shares of the financial services provider’s stock after buying an additional 307,159 shares during the quarter. JPMorgan Chase & Co. owned about 0.55% of United Bankshares worth $29,109,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. State of New Jersey Common Pension Fund D boosted its holdings in shares of United Bankshares by 10.5% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 57,628 shares of the financial services provider’s stock valued at $2,144,000 after acquiring an additional 5,498 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in United Bankshares by 10.3% during the third quarter. PNC Financial Services Group Inc. now owns 41,092 shares of the financial services provider’s stock valued at $1,529,000 after purchasing an additional 3,846 shares during the period. Edgemoor Investment Advisors Inc. acquired a new position in United Bankshares during the third quarter valued at $428,000. AlTi Global Inc. purchased a new stake in United Bankshares in the third quarter valued at $423,000. Finally, Linden Thomas Advisory Services LLC grew its position in United Bankshares by 2.7% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 21,255 shares of the financial services provider’s stock worth $791,000 after purchasing an additional 568 shares during the period. 70.80% of the stock is owned by hedge funds and other institutional investors.

United Bankshares Stock Performance

UBSI opened at $41.30 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.10. The company has a market cap of $5.80 billion, a price-to-earnings ratio of 12.63 and a beta of 0.78. United Bankshares, Inc. has a 52-week low of $30.50 and a 52-week high of $45.92. The firm’s fifty day simple moving average is $41.77 and its two-hundred day simple moving average is $38.84.

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

United Bankshares Announces Dividend

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

Wall Street Analyst Weigh In

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