United Bankshares, Inc. (NASDAQ:UBSI) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lessened its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 7.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,316 shares of the financial services provider’s stock after selling 625 shares during the period. Brown Brothers Harriman & Co.’s holdings in United Bankshares were worth $275,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in UBSI. Pictet Asset Management Holding SA raised its holdings in shares of United Bankshares by 19.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 24,943 shares of the financial services provider’s stock valued at $937,000 after buying an additional 4,004 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of United Bankshares by 37.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 400 shares during the period. Norges Bank acquired a new position in shares of United Bankshares during the fourth quarter worth $54,712,000. JPMorgan Chase & Co. boosted its stake in shares of United Bankshares by 39.7% in the fourth quarter. JPMorgan Chase & Co. now owns 830,774 shares of the financial services provider’s stock valued at $31,196,000 after purchasing an additional 235,955 shares during the period. Finally, Elo Mutual Pension Insurance Co acquired a new stake in United Bankshares during the 4th quarter valued at $394,000. Institutional investors and hedge funds own 70.80% of the company’s stock.

Insider Activity

In related news, Director Sara Dumond bought 2,600 shares of the stock in a transaction dated Monday, March 24th. The stock was bought at an average cost of $35.01 per share, with a total value of $91,026.00. Following the completion of the acquisition, the director now owns 5,054 shares of the company’s stock, valued at $176,940.54. This trade represents a 105.95 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.66% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Piper Sandler reiterated a “neutral” rating and issued a $38.50 price objective on shares of United Bankshares in a report on Wednesday, March 12th. Stephens reissued an “equal weight” rating and issued a $43.00 price target on shares of United Bankshares in a report on Monday, January 27th. StockNews.com lowered United Bankshares from a “hold” rating to a “sell” rating in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods cut their target price on 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. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, United Bankshares presently has a consensus rating of “Hold” and a consensus target price of $41.88.

United Bankshares Stock Up 0.8 %

NASDAQ:UBSI opened at $34.67 on Tuesday. The stock has a 50-day simple moving average of $36.52 and a 200 day simple moving average of $38.01. United Bankshares, Inc. has a one year low of $30.68 and a one year high of $44.43. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 12.65 and a beta of 0.98. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results 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 period in the prior year, the business posted $0.59 earnings per share. Sell-side analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.37 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.27%. United Bankshares’s payout ratio is currently 54.01%.

About United Bankshares

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.