8,742 Shares in United Bankshares, Inc. (NASDAQ:UBSI) Acquired by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC acquired a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,742 shares of the financial services provider's stock, valued at approximately $303,000.

Several other large investors also recently made changes to their positions in the business. Brighton Jones LLC raised its position in shares of United Bankshares by 4.6% during the fourth quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider's stock worth $634,000 after purchasing an additional 748 shares during the period. Choreo LLC purchased a new position in United Bankshares in the 4th quarter worth about $206,000. Kestra Private Wealth Services LLC acquired a new stake in United Bankshares during the 4th quarter worth about $419,000. Rhumbline Advisers lifted its stake in United Bankshares by 1.3% during the fourth quarter. Rhumbline Advisers now owns 455,157 shares of the financial services provider's stock valued at $17,091,000 after buying an additional 6,002 shares in the last quarter. Finally, Principal Securities Inc. boosted its holdings in shares of United Bankshares by 10.1% in the fourth quarter. Principal Securities Inc. now owns 3,115 shares of the financial services provider's stock worth $117,000 after buying an additional 285 shares during the period. Institutional investors own 70.80% of the company's stock.

Analyst Upgrades and Downgrades

UBSI has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of United Bankshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Piper Sandler reissued a "neutral" rating and set a $38.50 target price on shares of United Bankshares in a research note on Wednesday, March 12th. Finally, Keefe, Bruyette & Woods decreased their target price 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. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, United Bankshares presently has a consensus rating of "Hold" and a consensus price target of $40.63.

Insiders Place Their Bets

In other United Bankshares news, Director Sara Dumond bought 2,600 shares of the firm's stock in a transaction on Monday, March 24th. The stock was bought at an average cost of $35.01 per share, with a total value of $91,026.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.46% of the company's stock.

United Bankshares Stock Up 0.5%

UBSI traded up $0.17 on Thursday, reaching $34.77. 790,806 shares of the company traded hands, compared to its average volume of 638,435. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 12.93 and a beta of 0.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98. The stock's 50 day moving average price is $35.28 and its 200-day moving average price is $36.43. United Bankshares, Inc. has a 52-week low of $30.51 and a 52-week high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.59 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.07). United Bankshares had a net margin of 22.35% and a return on equity of 7.36%. The company had revenue of $289.61 million for the quarter, compared to analysts' expectations of $279.02 million. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The company's revenue was up 13.7% on a year-over-year basis. On average, sell-side analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Announces Dividend

The company 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 $0.37 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a yield of 4.26%. 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.