Capital Investment Advisors LLC Buys Shares of 17,412 United Bankshares, Inc. (NASDAQ:UBSI)

Capital Investment Advisors LLC purchased a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 17,412 shares of the financial services provider’s stock, valued at approximately $604,000.

Several other hedge funds have also made changes to their positions in UBSI. SBI Securities Co. Ltd. acquired a new stake in United Bankshares during the fourth quarter worth approximately $26,000. Jones Financial Companies Lllp grew its position in United Bankshares by 55.8% in the 4th quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider’s stock valued at $33,000 after buying an additional 310 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in United Bankshares by 1,921.1% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider’s stock valued at $54,000 after buying an additional 1,364 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in United Bankshares by 37.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider’s stock valued at $56,000 after buying an additional 400 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of United Bankshares during the 4th quarter worth $85,000. Institutional investors and hedge funds own 70.80% of the company’s stock.

Insider Buying and Selling at United Bankshares

In other news, Director Sara Dumond purchased 2,600 shares of United Bankshares stock in a transaction dated Monday, March 24th. The stock was acquired at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the acquisition, the director now directly owns 5,054 shares in the company, valued at $176,940.54. This represents a 105.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.46% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wall Street Zen lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods cut their target price on shares of United Bankshares from $42.00 to $40.00 and set a “market perform” rating for the company in a research note on Monday, April 28th. Finally, Piper Sandler restated a “neutral” rating and issued a $38.50 price target on shares of United Bankshares in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, United Bankshares presently has a consensus rating of “Hold” and an average target price of $40.63.

United Bankshares Stock Performance

Shares of UBSI opened at $37.06 on Wednesday. The business’s fifty day moving average price is $34.90 and its 200 day moving average price is $36.69. United Bankshares, Inc. has a 12-month low of $30.51 and a 12-month high of $44.43. The stock has a market capitalization of $5.26 billion, a PE ratio of 13.53 and a beta of 0.76. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98.

United Bankshares (NASDAQ:UBSI) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.07). The firm had revenue of $289.61 million for the quarter, compared to analyst estimates of $279.02 million. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. United Bankshares’s revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 earnings per share. Equities research analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, June 13th. This represents a $1.48 annualized dividend and a yield of 3.99%. United Bankshares’s dividend payout ratio (DPR) is presently 55.02%.

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.