1,780,352 Shares in United Bankshares, Inc. $UBSI Purchased by Norges Bank

Norges Bank bought a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,780,352 shares of the financial services provider’s stock, valued at approximately $68,366,000. Norges Bank owned approximately 1.27% of United Bankshares at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of United Bankshares during the third quarter worth about $25,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of United Bankshares during the fourth quarter worth about $26,000. Rothschild Investment LLC grew its position in shares of United Bankshares by 174.8% during the third quarter. Rothschild Investment LLC now owns 838 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 533 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of United Bankshares by 196.2% during the fourth quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 567 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of United Bankshares by 528.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 988 shares in the last quarter. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on UBSI. Weiss Ratings upgraded United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 13th. Raymond James Financial reiterated an “outperform” rating and set a $49.00 target price on shares of United Bankshares in a research report on Monday, April 27th. Finally, Zacks Research cut United Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.75.

United Bankshares Stock Performance

NASDAQ UBSI opened at $43.90 on Friday. The stock has a market capitalization of $6.05 billion, a PE ratio of 12.30 and a beta of 0.71. The business has a 50 day simple moving average of $43.03 and a two-hundred day simple moving average of $41.34. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98. United Bankshares, Inc. has a 1-year low of $34.10 and a 1-year high of $45.92.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.04. The business had revenue of $316.58 million during the quarter, compared to analysts’ expectations of $315.15 million. United Bankshares had a return on equity of 9.26% and a net margin of 27.45%.During the same quarter last year, the business posted $0.59 EPS. On average, research analysts predict that United Bankshares, Inc. will post 3.64 EPS for the current fiscal year.

United Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, June 12th. United Bankshares’s dividend payout ratio (DPR) is currently 42.58%.

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.