Nomura Asset Management Co. Ltd. Buys 400 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Nomura Asset Management Co. Ltd. raised its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 37.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,480 shares of the financial services provider’s stock after acquiring an additional 400 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in United Bankshares were worth $56,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of United Bankshares during the fourth quarter valued at about $54,712,000. JPMorgan Chase & Co. grew its position in United Bankshares by 39.7% in the 4th quarter. JPMorgan Chase & Co. now owns 830,774 shares of the financial services provider’s stock worth $31,196,000 after purchasing an additional 235,955 shares in the last quarter. Elo Mutual Pension Insurance Co bought a new position in shares of United Bankshares during the 4th quarter worth approximately $394,000. EntryPoint Capital LLC purchased a new position in shares of United Bankshares in the 4th quarter worth approximately $310,000. Finally, Advantage Alpha Capital Partners LP grew its holdings in shares of United Bankshares by 12.5% in the fourth quarter. Advantage Alpha Capital Partners LP now owns 15,406 shares of the financial services provider’s stock valued at $578,000 after acquiring an additional 1,716 shares in the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. StockNews.com lowered United Bankshares from a “hold” rating to a “sell” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods reduced their price target on shares of United Bankshares from $46.00 to $45.00 and set a “market perform” rating for the company in a research report on Monday, January 27th. Stephens restated an “equal weight” rating and set a $43.00 price objective on shares of United Bankshares in a report on Monday, January 27th. Finally, Piper Sandler reissued a “neutral” rating and set a $38.50 target price on shares of United Bankshares in a research report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $41.88.

Insiders Place Their Bets

In related news, Director Sara Dumond purchased 2,600 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were purchased at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the completion of the transaction, the director now directly owns 5,054 shares in the company, valued at approximately $176,940.54. This represents a 105.95 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 3.66% of the company’s stock.

United Bankshares Stock Down 6.8 %

UBSI stock opened at $32.34 on Friday. United Bankshares, Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $44.43. The stock has a fifty day moving average of $36.25 and a 200-day moving average of $37.93. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 11.80 and a beta of 0.91. 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 posted its earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. During the same period in the prior year, the business earned $0.59 earnings per share. As a group, equities research analysts predict that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 4.58%. United Bankshares’s payout ratio is 54.01%.

United Bankshares Company 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.