Bridgefront Capital LLC Buys New Position in United Bankshares, Inc. (NASDAQ:UBSI)

Bridgefront Capital LLC acquired a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,410 shares of the financial services provider's stock, valued at approximately $278,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Captrust Financial Advisors lifted its holdings in shares of United Bankshares by 0.7% during the fourth quarter. Captrust Financial Advisors now owns 73,655 shares of the financial services provider's stock worth $2,766,000 after buying an additional 510 shares in the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of United Bankshares during the fourth quarter worth $207,000. Balyasny Asset Management L.P. acquired a new stake in shares of United Bankshares during the fourth quarter worth $2,517,000. Ameriprise Financial Inc. lifted its holdings in shares of United Bankshares by 7.9% during the fourth quarter. Ameriprise Financial Inc. now owns 381,439 shares of the financial services provider's stock worth $14,331,000 after buying an additional 27,977 shares in the last quarter. Finally, Gallagher Fiduciary Advisors LLC lifted its holdings in shares of United Bankshares by 18.2% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 12,183 shares of the financial services provider's stock worth $457,000 after buying an additional 1,880 shares in the last quarter. 70.80% of the stock is owned by institutional investors.

Insider Transactions at United Bankshares

In related news, Director Sara Dumond bought 2,600 shares of United Bankshares stock in a transaction that occurred on Monday, March 24th. The shares were acquired at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the completion of the acquisition, the director now directly owns 5,054 shares of the company's stock, valued at approximately $176,940.54. The trade was a 105.95% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.46% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on UBSI shares. StockNews.com downgraded United Bankshares from a "hold" rating to a "sell" rating in a report on Monday, January 27th. Piper Sandler reissued a "neutral" rating and set a $38.50 target price on shares of United Bankshares in a report on Wednesday, March 12th. Keefe, Bruyette & Woods dropped their price target on 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, Stephens reaffirmed an "equal weight" rating and issued a $43.00 price target on shares of United Bankshares in a research note on Monday, January 27th. One equities research 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 currently has an average rating of "Hold" and an average target price of $40.63.

United Bankshares Price Performance

United Bankshares stock traded up $1.63 during midday trading on Monday, reaching $37.12. The company's stock had a trading volume of 484,087 shares, compared to its average volume of 620,827. United Bankshares, Inc. has a 52 week low of $30.51 and a 52 week high of $44.43. 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 business has a 50-day moving average price of $34.06 and a 200-day moving average price of $37.28. The stock has a market cap of $5.32 billion, a PE ratio of 13.54 and a beta of 0.74.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.07). The firm had revenue of $289.61 million for the quarter, compared to the consensus estimate of $279.02 million. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. The business's revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 earnings per share. On average, sell-side analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend was Friday, March 14th. United Bankshares's dividend payout ratio (DPR) is currently 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.