United Bankshares, Inc. (NASDAQ:UBSI) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lowered its position in United Bankshares, Inc. (NASDAQ:UBSI) by 7.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 7,316 shares of the financial services provider’s stock after selling 625 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in United Bankshares were worth $275,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in UBSI. Norges Bank bought a new position in United Bankshares in the 4th quarter valued at about $54,712,000. Raymond James Financial Inc. bought a new position in shares of United Bankshares in the fourth quarter valued at approximately $14,948,000. JPMorgan Chase & Co. increased its stake in shares of United Bankshares by 39.7% during the fourth quarter. JPMorgan Chase & Co. now owns 830,774 shares of the financial services provider’s stock valued at $31,196,000 after acquiring an additional 235,955 shares during the period. Assenagon Asset Management S.A. bought a new stake in United Bankshares during the fourth quarter worth approximately $7,383,000. Finally, Point72 Asset Management L.P. acquired a new stake in United Bankshares in the third quarter worth approximately $6,186,000. Institutional investors and hedge funds own 70.80% of the company’s stock.

United Bankshares Trading Up 0.8 %

Shares of NASDAQ UBSI opened at $34.67 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. United Bankshares, Inc. has a 12 month low of $30.68 and a 12 month high of $44.43. The company has a market cap of $4.97 billion, a price-to-earnings ratio of 12.65 and a beta of 0.98. The business has a fifty day simple moving average of $36.52 and a 200-day simple moving average of $38.01.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Friday, January 24th. The financial services provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. During the same quarter last year, the firm earned $0.59 earnings per share. Sell-side analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.27%. United Bankshares’s dividend payout ratio is 54.01%.

Insider Activity at United Bankshares

In related news, Director Sara Dumond acquired 2,600 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were purchased at an average cost of $35.01 per share, with a total value of $91,026.00. Following the completion of the transaction, the director now owns 5,054 shares of the company’s stock, valued at approximately $176,940.54. This trade represents a 105.95 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 3.66% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on UBSI. Keefe, Bruyette & Woods decreased their target price on United Bankshares from $46.00 to $45.00 and set a “market perform” rating for the company in a research note on Monday, January 27th. StockNews.com downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Monday, January 27th. Piper Sandler reaffirmed a “neutral” rating and issued a $38.50 price objective on shares of United Bankshares in a research note on Wednesday, March 12th. Finally, Stephens reissued an “equal weight” rating and set a $43.00 target price on shares of United Bankshares in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $41.88.

United Bankshares Profile

United Bankshares, Inc, through its subsidiaries, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts.