ProShare Advisors LLC Sells 29,402 Shares of United Bankshares, Inc. $UBSI

ProShare Advisors LLC reduced its position in United Bankshares, Inc. (NASDAQ:UBSI) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,111,456 shares of the financial services provider’s stock after selling 29,402 shares during the quarter. ProShare Advisors LLC owned approximately 0.79% of United Bankshares worth $42,680,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of United Bankshares by 64.6% in the 3rd 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 during the last quarter. AlTi Global Inc. bought a new stake in shares of United Bankshares during the 3rd quarter valued at about $423,000. SG Americas Securities LLC boosted its position in shares of United Bankshares by 168.3% during the 4th 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. boosted its position in shares of United Bankshares by 1.2% during the 3rd 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, Artemis Investment Management LLP bought a new stake in shares of United Bankshares during the 4th quarter valued at about $1,801,000. 70.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Stephens upped their target price on United Bankshares from $40.00 to $44.00 and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Zacks Research lowered shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Raymond James Financial reissued an “outperform” rating and set a $49.00 target price on shares of United Bankshares in a research note on Monday, April 27th. Keefe, Bruyette & Woods increased their target price on shares of United Bankshares from $40.00 to $43.00 and gave the stock a “market perform” rating in a research note on Monday, January 26th. Finally, Piper Sandler reissued an “overweight” rating and set a $47.00 target price on shares of United Bankshares in a research note on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.75.

United Bankshares Stock Down 0.7%

Shares of NASDAQ:UBSI opened at $42.26 on Wednesday. The business’s 50 day simple moving average is $42.10 and its two-hundred day simple moving average is $40.73. The firm has a market cap of $5.82 billion, a P/E 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.

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

United Bankshares Dividend Announcement

The firm also recently disclosed 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. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, June 12th. United Bankshares’s dividend payout ratio (DPR) is 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.