Cibc World Markets Corp Takes Position in United Bankshares, Inc. (NASDAQ:UBSI)

Cibc World Markets Corp purchased a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 12,374 shares of the financial services provider’s stock, valued at approximately $465,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of UBSI. Geode Capital Management LLC increased its position in shares of United Bankshares by 1.7% in the third quarter. Geode Capital Management LLC now owns 3,306,542 shares of the financial services provider’s stock worth $122,695,000 after purchasing an additional 53,994 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of United Bankshares by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,710,588 shares of the financial services provider’s stock worth $64,233,000 after purchasing an additional 37,532 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of United Bankshares by 3.5% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,612,170 shares of the financial services provider’s stock worth $60,538,000 after purchasing an additional 54,089 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of United Bankshares by 1.4% in the third quarter. Fisher Asset Management LLC now owns 1,221,493 shares of the financial services provider’s stock worth $45,317,000 after purchasing an additional 16,782 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of United Bankshares by 9.8% in the third quarter. JPMorgan Chase & Co. now owns 594,819 shares of the financial services provider’s stock worth $22,068,000 after purchasing an additional 52,949 shares during the last quarter. 70.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

UBSI has been the topic of several research analyst reports. Piper Sandler restated a “neutral” rating and issued a $38.50 price objective on shares of United Bankshares in a research report on Wednesday, March 12th. Keefe, Bruyette & Woods decreased their price objective on shares of United Bankshares from $46.00 to $45.00 and set a “market perform” rating on the stock in a research report on Monday, January 27th. Stephens restated an “equal weight” rating and issued a $43.00 price objective on shares of United Bankshares in a research report on Monday, January 27th. Finally, StockNews.com cut shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.88.

United Bankshares Stock Down 1.0 %

Shares of NASDAQ UBSI opened at $34.38 on Monday. United Bankshares, Inc. has a one year low of $30.68 and a one year high of $44.43. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The firm’s 50 day simple moving average is $36.88 and its two-hundred day simple moving average is $38.09. The stock has a market capitalization of $4.92 billion, a P/E ratio of 12.55 and a beta of 0.98.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Friday, January 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. During the same quarter last year, the firm earned $0.59 earnings per share. As a group, analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend is Friday, March 14th. United Bankshares’s dividend payout ratio (DPR) 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.