86,052 Shares in United Bankshares, Inc. (NASDAQ:UBSI) Bought by Dover Advisors LLC

Dover Advisors LLC purchased a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 86,052 shares of the financial services provider's stock, valued at approximately $3,015,000. United Bankshares comprises 1.3% of Dover Advisors LLC's holdings, making the stock its 17th biggest holding. Dover Advisors LLC owned approximately 0.06% of United Bankshares as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Truist Financial Corp grew its holdings in shares of United Bankshares by 69.8% during the 4th quarter. Truist Financial Corp now owns 22,916 shares of the financial services provider's stock worth $860,000 after acquiring an additional 9,418 shares during the period. Nomura Holdings Inc. bought a new stake in shares of United Bankshares during the fourth quarter valued at approximately $671,000. Janus Henderson Group PLC grew its stake in United Bankshares by 5.3% in the fourth quarter. Janus Henderson Group PLC now owns 61,534 shares of the financial services provider's stock worth $2,310,000 after purchasing an additional 3,100 shares during the period. JPMorgan Chase & Co. grew its stake in United Bankshares by 39.7% in the fourth 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 during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in United Bankshares by 9.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,065 shares of the financial services provider's stock worth $1,204,000 after purchasing an additional 2,899 shares in the last quarter. Hedge funds and other institutional investors own 70.80% of the company's stock.

Insider Buying and Selling at United Bankshares

In related news, Director Sara Dumond purchased 2,600 shares of United Bankshares stock in a transaction dated Monday, March 24th. The stock was purchased at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the completion of 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 position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 3.46% of the company's stock.

United Bankshares Stock Down 0.2%

United Bankshares stock traded down $0.08 during mid-day trading on Monday, reaching $35.15. The stock had a trading volume of 248,090 shares, compared to its average volume of 633,538. United Bankshares, Inc. has a one year low of $30.51 and a one year high of $44.43. The company has a 50-day moving average price of $35.16 and a two-hundred day moving average price of $36.51. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of 12.83 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 - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.07). United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. The firm had revenue of $289.61 million during the quarter, compared to the consensus estimate of $279.02 million. During the same quarter in the prior year, the company posted $0.64 EPS. The company's quarterly revenue was up 13.7% on a year-over-year basis. On average, analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current fiscal 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 4.21%. United Bankshares's dividend payout ratio is 55.02%.

Analyst Ratings Changes

A number of analysts have recently commented on UBSI shares. Wall Street Zen cut shares of United Bankshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Keefe, Bruyette & Woods dropped their price objective on shares of United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Finally, Piper Sandler restated a "neutral" rating and issued a $38.50 price objective 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 assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price 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.