Dover Advisors LLC Acquires Shares of 86,052 United Bankshares, Inc. (NASDAQ:UBSI)

Dover Advisors LLC purchased a new position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 86,052 shares of the financial services provider's stock, valued at approximately $3,015,000. United Bankshares accounts for about 1.3% of Dover Advisors LLC's holdings, making the stock its 17th largest holding. Dover Advisors LLC owned 0.06% of United Bankshares as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of UBSI. Norges Bank acquired a new stake in United Bankshares in the fourth quarter valued at approximately $54,712,000. Raymond James Financial Inc. purchased a new stake in shares of United Bankshares in the fourth quarter valued at approximately $14,948,000. JPMorgan Chase & Co. lifted its holdings in United Bankshares by 39.7% during the fourth quarter. JPMorgan Chase & Co. now owns 830,774 shares of the financial services provider's stock valued at $31,196,000 after purchasing an additional 235,955 shares in the last quarter. Northern Trust Corp lifted its stake in United Bankshares by 13.7% in the 4th quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider's stock valued at $66,614,000 after buying an additional 213,441 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of United Bankshares by 52.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 381,062 shares of the financial services provider's stock worth $14,309,000 after acquiring an additional 130,444 shares during the last quarter. Institutional investors own 70.80% of the company's stock.

United Bankshares Stock Down 1.0%

United Bankshares stock traded down $0.36 during midday trading on Tuesday, reaching $34.60. The company's stock had a trading volume of 679,496 shares, compared to its average volume of 635,830. The company has a market cap of $4.92 billion, a P/E ratio of 12.63 and a beta of 0.76. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The business has a 50-day simple moving average of $35.23 and a 200-day simple moving average of $36.46. United Bankshares, Inc. has a fifty-two week low of $30.51 and a fifty-two week high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued its 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 business 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 last year, the business posted $0.64 EPS. On average, research analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, June 13th. This represents a $1.48 annualized dividend and a dividend yield of 4.28%. United Bankshares's dividend payout ratio is presently 55.02%.

Insider Transactions at United Bankshares

In related news, Director Sara Dumond purchased 2,600 shares of the business's stock in a transaction that occurred on 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 purchase, the director now directly owns 5,054 shares of the company's stock, valued at $176,940.54. The trade was a 105.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.46% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. 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 report on Monday, April 28th. Wall Street Zen lowered United Bankshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Piper Sandler restated a "neutral" rating and issued a $38.50 price target on shares of United Bankshares in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. Based on data from MarketBeat, United Bankshares has a consensus rating of "Hold" and a consensus price target of $40.63.

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.