Elo Mutual Pension Insurance Co Invests $394,000 in United Bankshares, Inc. (NASDAQ:UBSI)

Elo Mutual Pension Insurance Co acquired a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 10,491 shares of the financial services provider’s stock, valued at approximately $394,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new position in shares of United Bankshares in the fourth quarter worth $14,948,000. Assenagon Asset Management S.A. purchased a new stake in United Bankshares during the 4th quarter worth about $7,383,000. Point72 Asset Management L.P. acquired a new position in United Bankshares in the 3rd quarter valued at about $6,186,000. Barclays PLC lifted its holdings in United Bankshares by 89.5% in the 3rd quarter. Barclays PLC now owns 269,852 shares of the financial services provider’s stock valued at $10,012,000 after purchasing an additional 127,486 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of United Bankshares by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,310,562 shares of the financial services provider’s stock worth $537,362,000 after purchasing an additional 115,681 shares during the last quarter. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Stephens reaffirmed an “equal weight” rating and issued a $43.00 target price on shares of United Bankshares in a research note on Monday, January 27th. Piper Sandler reaffirmed a “neutral” rating and issued a $38.50 price objective on shares of United Bankshares in a research report on Wednesday, March 12th. Keefe, Bruyette & Woods dropped their target price on United Bankshares from $46.00 to $45.00 and set a “market perform” rating for the company in a research note on Monday, January 27th. Finally, StockNews.com lowered United Bankshares from a “hold” rating to a “sell” rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, United Bankshares presently has a consensus rating of “Hold” and a consensus target price of $41.88.

Insider Transactions at United Bankshares

In other United Bankshares news, Director Sara Dumond purchased 2,600 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average cost of $35.01 per share, with a total value of $91,026.00. Following the transaction, the director now owns 5,054 shares in the company, valued at approximately $176,940.54. This trade represents a 105.95 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.66% of the company’s stock.

United Bankshares Trading Down 1.3 %

Shares of UBSI opened at $34.40 on Monday. United Bankshares, Inc. has a twelve month low of $30.68 and a twelve month high of $44.43. The firm has a market capitalization of $4.93 billion, a P/E ratio of 12.55 and a beta of 0.98. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The stock’s fifty day simple moving average is $36.60 and its 200 day simple moving average is $38.02.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Friday, January 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate 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 last year, the company posted $0.59 EPS. On average, equities research analysts forecast that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 4.30%. United Bankshares’s dividend 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.