Jupiter Topco LLC Takes Position in United Bankshares, Inc. $UBSI

Key Points

• Jupiter Topco LLC acquired 61,534 United Bankshares shares worth approximately $2.82 million in the second quarter. Institutional investors own 70.8% of UBSI.
• United Bankshares exceeded quarterly expectations, reporting $0.95 earnings per share versus the $0.89 consensus and revenue of $323.82 million. Analysts maintain a consensus “Hold” rating with a $47.80 target price.
• The company declared a quarterly dividend of $0.38 per share, equivalent to a $1.52 annualized payout and a 3.2% yield. Separately, director Mark R. Nesselroad sold 3,200 shares, reducing his position by 9.03%.

Jupiter Topco LLC purchased a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 61,534 shares of the financial services provider's stock, valued at approximately $2,820,000.

A number of other institutional investors also recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd bought a new position in United Bankshares during the third quarter valued at $25,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of United Bankshares in the 4th quarter worth about $26,000. Farther Finance Advisors LLC lifted its holdings in shares of United Bankshares by 196.2% in the 4th quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider's stock worth $33,000 after acquiring an additional 567 shares during the last quarter. Root Financial Partners LLC boosted its stake in shares of United Bankshares by 64.4% during the 1st quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider's stock worth $33,000 after purchasing an additional 308 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of United Bankshares by 528.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider's stock worth $43,000 after purchasing an additional 988 shares during the period. 70.80% of the stock is currently owned by institutional investors.

United Bankshares Stock Performance

UBSI stock opened at $47.30 on Thursday. United Bankshares, Inc. has a one year low of $34.10 and a one year high of $49.62. The firm has a 50-day simple moving average of $47.50 and a two-hundred day simple moving average of $44.43. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.98. The firm has a market cap of $6.44 billion, a price-to-earnings ratio of 12.89 and a beta of 0.70.

United Bankshares (NASDAQ:UBSI - Get Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.06. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. The company had revenue of $323.82 million during the quarter, compared to the consensus estimate of $320.07 million. During the same period last year, the firm earned $0.85 earnings per share. On average, equities analysts forecast that United Bankshares, Inc. will post 3.71 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, September 11th. United Bankshares's dividend payout ratio is currently 41.42%.

Analyst Ratings Changes

UBSI has been the topic of a number of recent analyst reports. Hovde Group increased their price objective on shares of United Bankshares from $49.00 to $50.00 and gave the stock a "market perform" rating in a research report on Friday, July 24th. Wall Street Zen upgraded United Bankshares from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Raymond James Financial upped their target price on United Bankshares from $49.00 to $50.00 and gave the company an "outperform" rating in a research note on Wednesday, July 1st. Weiss Ratings reiterated a "buy (b)" rating on shares of United Bankshares in a report on Monday, July 6th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of United Bankshares from $46.00 to $48.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $47.80.

Insiders Place Their Bets

In related news, Director Mark R. Nesselroad sold 3,200 shares of the company's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $46.42, for a total transaction of $148,544.00. Following the transaction, the director directly owned 32,224 shares of the company's stock, valued at $1,495,838.08. This represents a 9.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 3.16% of the stock is currently owned by company insiders.

United Bankshares Company Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company's core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.

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