Geode Capital Management LLC Acquires 183,950 Shares of United Bankshares, Inc. $UBSI

Geode Capital Management LLC lifted its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 5.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,802,338 shares of the financial services provider’s stock after acquiring an additional 183,950 shares during the period. Geode Capital Management LLC owned approximately 2.71% of United Bankshares worth $146,030,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UBSI. Caitong International Asset Management Co. Ltd bought a new position in shares of United Bankshares during the 3rd quarter worth about $25,000. Rothschild Investment LLC lifted its holdings in shares of United Bankshares by 174.8% during the 3rd quarter. Rothschild Investment LLC now owns 838 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 533 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of United Bankshares by 196.2% during the 4th quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 567 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of United Bankshares by 528.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 988 shares during the period. Finally, Exchange Traded Concepts LLC bought a new position in shares of United Bankshares during the 4th quarter worth about $91,000. 70.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on UBSI. Zacks Research downgraded shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Weiss Ratings raised shares of United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $49.00 price objective on shares of United Bankshares in a report on Monday, April 27th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, United Bankshares presently has an average rating of “Moderate Buy” and an average price target of $45.75.

United Bankshares Trading Up 2.7%

Shares of UBSI stock opened at $43.72 on Friday. United Bankshares, Inc. has a 12-month low of $34.10 and a 12-month high of $45.92. The company has a market capitalization of $6.02 billion, a P/E ratio of 12.25 and a beta of 0.71. The firm has a 50-day moving average price of $42.97 and a 200 day moving average price of $41.32. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. United Bankshares had a net margin of 27.45% and a return on equity of 9.26%. The firm had revenue of $316.58 million during the quarter, compared to the consensus estimate of $315.15 million. During the same period last year, the firm posted $0.59 EPS. Research analysts forecast that United Bankshares, Inc. will post 3.64 earnings per share 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. Investors 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 of this dividend is Friday, June 12th. United Bankshares’s dividend payout ratio (DPR) is currently 42.58%.

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.