Swiss National Bank Increases Stock Holdings in United Bankshares, Inc. $UBSI

Swiss National Bank increased its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 4.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 274,163 shares of the financial services provider’s stock after acquiring an additional 12,200 shares during the quarter. Swiss National Bank’s holdings in United Bankshares were worth $9,988,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in UBSI. Earnest Partners LLC grew its position in shares of United Bankshares by 0.4% in the first quarter. Earnest Partners LLC now owns 4,214,634 shares of the financial services provider’s stock valued at $146,121,000 after purchasing an additional 15,498 shares during the period. Geode Capital Management LLC lifted its stake in United Bankshares by 3.2% in the 2nd quarter. Geode Capital Management LLC now owns 3,590,552 shares of the financial services provider’s stock valued at $130,817,000 after buying an additional 110,305 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in United Bankshares by 1.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,733,488 shares of the financial services provider’s stock valued at $60,100,000 after buying an additional 22,900 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in United Bankshares by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,420,027 shares of the financial services provider’s stock worth $51,732,000 after buying an additional 48,561 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in United Bankshares by 12.0% during the 2nd quarter. ProShare Advisors LLC now owns 1,152,444 shares of the financial services provider’s stock worth $41,984,000 after buying an additional 123,349 shares in the last quarter. 70.80% of the stock is currently owned by institutional investors and hedge funds.

United Bankshares Price Performance

UBSI stock opened at $37.24 on Friday. United Bankshares, Inc. has a 1 year low of $30.50 and a 1 year high of $42.83. 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 firm has a market capitalization of $5.23 billion, a PE ratio of 12.21 and a beta of 0.83. The business has a 50 day simple moving average of $36.48 and a 200-day simple moving average of $36.76.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.10. The company had revenue of $280.90 million for the quarter, compared to analyst estimates of $307.78 million. United Bankshares had a return on equity of 8.15% and a net margin of 24.37%.During the same quarter in the previous year, the company posted $0.70 earnings per share. Equities research analysts anticipate that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 12th will be issued a $0.38 dividend. This is an increase 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 4.1%. The ex-dividend date of this dividend is Friday, December 12th. United Bankshares’s payout ratio is currently 49.84%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on UBSI. Zacks Research upgraded United Bankshares from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 19th. Weiss Ratings reissued a “hold (c)” rating on shares of United Bankshares in a research note on Thursday, October 30th. Finally, Piper Sandler set a $42.50 target price on shares of United Bankshares and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. One equities 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 stock. According to data from MarketBeat, United Bankshares presently has an average rating of “Moderate Buy” and a consensus target price of $41.83.

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.