ProShare Advisors LLC Cuts Stock Holdings in United Bankshares, Inc. $UBSI

ProShare Advisors LLC decreased its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 2.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,111,456 shares of the financial services provider’s stock after selling 29,402 shares during the period. ProShare Advisors LLC’s holdings in United Bankshares were worth $42,680,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of United Bankshares by 64.6% during the third quarter. JPMorgan Chase & Co. now owns 782,292 shares of the financial services provider’s stock valued at $29,109,000 after purchasing an additional 307,159 shares in the last quarter. AlTi Global Inc. bought a new position in shares of United Bankshares during the third quarter valued at about $423,000. SG Americas Securities LLC lifted its position in shares of United Bankshares by 168.3% during the fourth quarter. SG Americas Securities LLC now owns 56,866 shares of the financial services provider’s stock valued at $2,184,000 after purchasing an additional 35,673 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of United Bankshares by 1.2% during the third quarter. Victory Capital Management Inc. now owns 3,624,628 shares of the financial services provider’s stock valued at $134,872,000 after purchasing an additional 42,255 shares in the last quarter. Finally, 1834 Investment Advisors Co. bought a new position in shares of United Bankshares during the fourth quarter valued at about $3,700,000. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Weiss Ratings raised shares of United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 13th. Keefe, Bruyette & Woods lifted their price target on United Bankshares from $40.00 to $43.00 and gave the stock a “market perform” rating in a report on Monday, January 26th. Piper Sandler reiterated an “overweight” rating and set a $47.00 price target on shares of United Bankshares in a report on Monday, January 26th. Stephens lifted their price target on United Bankshares from $40.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Finally, Raymond James Financial reiterated an “outperform” rating and set a $49.00 price target on shares of United Bankshares in a report on Monday, April 27th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, United Bankshares currently has a consensus rating of “Moderate Buy” and an average target price of $45.75.

United Bankshares Stock Performance

Shares of UBSI stock opened at $42.26 on Wednesday. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 11.84 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. United Bankshares, Inc. has a 52 week low of $34.10 and a 52 week high of $45.92. The firm’s 50-day simple moving average is $42.10 and its two-hundred day simple moving average is $40.73.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.85 by $0.04. The business had revenue of $316.58 million for the quarter, compared to analyst estimates of $315.15 million. United Bankshares had a net margin of 27.45% and a return on equity of 9.26%. During the same quarter in the previous year, the firm posted $0.59 earnings per share. As a group, equities analysts forecast that United Bankshares, Inc. will post 3.64 earnings per share for the current year.

United Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be paid a $0.38 dividend. The ex-dividend date is Friday, June 12th. This represents a $1.52 annualized dividend and a dividend yield of 3.6%. United Bankshares’s payout ratio is presently 42.58%.

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.