Mirae Asset Global Investments Co. Ltd. Raises Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 58.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,471 shares of the financial services provider’s stock after purchasing an additional 33,812 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.07% of United Bankshares worth $3,435,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Staley Capital Advisers Inc. grew its stake in United Bankshares by 0.8% in the 4th quarter. Staley Capital Advisers Inc. now owns 46,050 shares of the financial services provider’s stock worth $1,865,000 after acquiring an additional 351 shares during the period. Bank of Montreal Can boosted its holdings in shares of United Bankshares by 1.0% in the 1st quarter. Bank of Montreal Can now owns 36,804 shares of the financial services provider’s stock valued at $1,303,000 after purchasing an additional 356 shares during the last quarter. Mariner LLC boosted its holdings in shares of United Bankshares by 3.9% in the 4th quarter. Mariner LLC now owns 10,407 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 395 shares during the last quarter. Systematic Financial Management LP boosted its holdings in shares of United Bankshares by 0.3% in the 1st quarter. Systematic Financial Management LP now owns 174,335 shares of the financial services provider’s stock valued at $6,137,000 after purchasing an additional 450 shares during the last quarter. Finally, Inspire Investing LLC boosted its holdings in shares of United Bankshares by 4.9% in the 3rd quarter. Inspire Investing LLC now owns 11,099 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 522 shares during the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.

United Bankshares Stock Performance

NASDAQ:UBSI opened at $32.57 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of 12.02 and a beta of 1.00. The firm’s fifty day simple moving average is $34.36 and its 200 day simple moving average is $33.66. United Bankshares, Inc. has a twelve month low of $25.35 and a twelve month high of $38.74.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Friday, January 26th. The financial services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. The business had revenue of $402.85 million for the quarter, compared to analyst estimates of $258.98 million. United Bankshares had a net margin of 23.84% and a return on equity of 8.05%. During the same quarter in the previous year, the business posted $0.74 EPS. As a group, equities research analysts expect that United Bankshares, Inc. will post 2.64 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were issued a $0.37 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.48 dividend on an annualized basis and a yield of 4.54%. United Bankshares’s dividend payout ratio is currently 54.61%.

Analysts Set New Price Targets

Separately, Raymond James lifted their target price on shares of United Bankshares from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, January 5th.

About United Bankshares

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.