United Bankshares, Inc. $UBSI Holdings Decreased by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. reduced its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 56.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,797 shares of the financial services provider’s stock after selling 160,014 shares during the period. Jupiter Asset Management Ltd. owned about 0.09% of United Bankshares worth $4,681,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its stake in United Bankshares by 261.8% during the second quarter. Hantz Financial Services Inc. now owns 749 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 542 shares during the last quarter. Bogart Wealth LLC boosted its holdings in shares of United Bankshares by 655.4% in the 3rd quarter. Bogart Wealth LLC now owns 763 shares of the financial services provider’s stock valued at $28,000 after buying an additional 662 shares during the period. Rothschild Investment LLC grew its position 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 valued at $31,000 after buying an additional 533 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in United Bankshares by 528.3% during the second 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, Allworth Financial LP raised its stake in United Bankshares by 394.1% during the second quarter. Allworth Financial LP now owns 1,265 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 1,009 shares during the period. Institutional investors and hedge funds own 70.80% of the company’s stock.

United Bankshares Stock Up 0.5%

Shares of United Bankshares stock opened at $44.28 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.99 and a quick ratio of 0.99. United Bankshares, Inc. has a 1-year low of $30.50 and a 1-year high of $45.92. The business’s fifty day moving average price is $41.49 and its two-hundred day moving average price is $38.61. The company has a market capitalization of $6.22 billion, a P/E ratio of 13.54 and a beta of 0.78.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $430.85 million for the quarter, compared to analyst estimates of $315.50 million. United Bankshares had a return on equity of 8.60% and a net margin of 25.51%.During the same period last year, the company earned $0.69 earnings per share. As a group, research analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on UBSI. Piper Sandler reaffirmed an “overweight” rating and set a $47.00 target price on shares of United Bankshares in a report on Monday, January 26th. Weiss Ratings upgraded United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. Zacks Research upgraded United Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Stephens boosted their price target on shares of United Bankshares from $40.00 to $44.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of United Bankshares from $40.00 to $43.00 and gave the stock a “market perform” rating in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.67.

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.