Zurcher Kantonalbank Zurich Cantonalbank Grows Position in United Bankshares, Inc. (NASDAQ:UBSI)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in United Bankshares, Inc. (NASDAQ:UBSI) by 9.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,065 shares of the financial services provider’s stock after acquiring an additional 2,899 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in United Bankshares were worth $1,204,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Jane Street Group LLC lifted its position in shares of United Bankshares by 27.2% during the 3rd quarter. Jane Street Group LLC now owns 161,489 shares of the financial services provider’s stock worth $5,991,000 after purchasing an additional 34,526 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in United Bankshares by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,673,056 shares of the financial services provider’s stock valued at $62,070,000 after buying an additional 83,503 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in United Bankshares by 73.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 50,953 shares of the financial services provider’s stock worth $1,890,000 after buying an additional 21,520 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of United Bankshares by 3.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 12,328 shares of the financial services provider’s stock worth $457,000 after acquiring an additional 427 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of United Bankshares by 9.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 594,819 shares of the financial services provider’s stock valued at $22,068,000 after acquiring an additional 52,949 shares during the last quarter. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on UBSI shares. Stephens restated an “equal weight” rating and set a $43.00 target price on shares of United Bankshares in a research note on Monday, January 27th. StockNews.com cut shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Monday, January 27th. Piper Sandler reiterated a “neutral” rating and set a $38.50 price target on shares of United Bankshares in a research note on Wednesday, March 12th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of 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. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, United Bankshares has an average rating of “Hold” and a consensus price target of $41.88.

United Bankshares Stock Performance

Shares of UBSI opened at $35.17 on Thursday. The company’s 50 day simple moving average is $36.96 and its 200-day simple moving average is $38.14. United Bankshares, Inc. has a 12-month low of $30.68 and a 12-month high of $44.43. The firm has a market cap of $5.04 billion, a PE ratio of 12.84 and a beta of 0.98. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Friday, January 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the prior year, the company posted $0.59 EPS. As a group, equities analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend is Friday, March 14th. United Bankshares’s dividend payout ratio is presently 54.01%.

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.