Hazlett Burt & Watson Inc. Purchases 17,755 Shares of United Bankshares, Inc. $UBSI

Hazlett Burt & Watson Inc. grew its position in United Bankshares, Inc. (NASDAQ:UBSI) by 219.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,832 shares of the financial services provider’s stock after buying an additional 17,755 shares during the period. Hazlett Burt & Watson Inc.’s holdings in United Bankshares were worth $960,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in United Bankshares in the second quarter valued at approximately $60,618,000. First Trust Advisors LP lifted its holdings in shares of United Bankshares by 367.5% during the 2nd quarter. First Trust Advisors LP now owns 1,935,979 shares of the financial services provider’s stock valued at $70,528,000 after purchasing an additional 1,521,864 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of United Bankshares by 100.1% during the 2nd quarter. AQR Capital Management LLC now owns 562,111 shares of the financial services provider’s stock valued at $20,478,000 after purchasing an additional 281,190 shares during the last quarter. Jupiter Asset Management Ltd. boosted its position in shares of United Bankshares by 518.0% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 285,811 shares of the financial services provider’s stock worth $10,412,000 after purchasing an additional 239,567 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in United Bankshares by 673.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 196,067 shares of the financial services provider’s stock worth $7,143,000 after buying an additional 170,720 shares during the last quarter. Institutional investors own 70.80% of the company’s stock.

Analyst Ratings Changes

UBSI has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their price target on United Bankshares from $40.00 to $43.00 and gave the stock a “market perform” rating in a report on Monday, January 26th. Zacks Research cut shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of United Bankshares in a research report on Monday, December 29th. Piper Sandler restated an “overweight” rating and set a $47.00 price target on shares of United Bankshares in a research note on Monday, January 26th. Finally, Stephens lifted their price objective on shares of United Bankshares from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $44.67.

United Bankshares Stock Performance

Shares of NASDAQ UBSI opened at $42.33 on Friday. The company has a 50 day simple moving average of $39.63 and a two-hundred day simple moving average of $37.78. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 12.94 and a beta of 0.78. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.10. United Bankshares, Inc. has a 12 month low of $30.50 and a 12 month high of $43.78.

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

United Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 12th were paid a $0.38 dividend. The ex-dividend date was Friday, December 12th. This is a positive change 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 3.6%. United Bankshares’s dividend payout ratio (DPR) is currently 46.48%.

United Bankshares Profile

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.