Fisher Asset Management LLC Has $42.21 Million Position in United Bankshares, Inc. $UBSI

Fisher Asset Management LLC cut its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 5.9% in the second quarter, HoldingsChannel.com reports. The fund owned 1,158,778 shares of the financial services provider’s stock after selling 72,881 shares during the period. Fisher Asset Management LLC’s holdings in United Bankshares were worth $42,214,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of UBSI. Y Intercept Hong Kong Ltd acquired a new stake in United Bankshares in the second quarter worth $378,000. Focus Partners Wealth increased its position in shares of United Bankshares by 178.6% in the 1st quarter. Focus Partners Wealth now owns 73,102 shares of the financial services provider’s stock valued at $2,534,000 after buying an additional 46,863 shares in the last quarter. Truist Financial Corp raised its stake in United Bankshares by 81.8% during the 2nd quarter. Truist Financial Corp now owns 22,375 shares of the financial services provider’s stock worth $815,000 after buying an additional 10,069 shares during the period. Atria Investments Inc lifted its holdings in United Bankshares by 30.5% during the second quarter. Atria Investments Inc now owns 54,586 shares of the financial services provider’s stock worth $1,989,000 after acquiring an additional 12,756 shares in the last quarter. Finally, Vise Technologies Inc. acquired a new position in United Bankshares in the second quarter valued at about $325,000. Institutional investors own 70.80% of the company’s stock.

United Bankshares Stock Down 0.4%

UBSI stock opened at $37.55 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $5.27 billion, a P/E ratio of 12.31 and a beta of 0.83. United Bankshares, Inc. has a fifty-two week low of $30.50 and a fifty-two week high of $42.40. The business has a 50-day moving average of $36.50 and a 200-day moving average of $36.76.

United Bankshares (NASDAQ:UBSI) last released its earnings results on Thursday, October 23rd. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.82 by $0.10. United Bankshares had a return on equity of 8.15% and a net margin of 24.37%.The firm had revenue of $280.90 million for the quarter, compared to analysts’ expectations of $307.78 million. During the same quarter in the previous year, the business posted $0.70 EPS. On average, sell-side analysts anticipate that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 12th will be given a $0.38 dividend. 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 4.0%. The ex-dividend date of this dividend is Friday, December 12th. United Bankshares’s payout ratio is presently 49.84%.

Analyst Ratings Changes

UBSI has been the topic of several recent analyst reports. Piper Sandler set a $42.50 price objective on United Bankshares and gave the company an “overweight” rating in a report on Thursday, October 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of United Bankshares in a report on Monday. Finally, Zacks Research raised shares of United Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. One research 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 company currently has an average rating of “Moderate Buy” and an average target price of $41.83.

United Bankshares Company 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.