NovaPoint Capital LLC bought a new stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 13,169 shares of the financial services provider's stock, valued at approximately $457,000.
A number of other large investors have also recently bought and sold shares of UBSI. Brighton Jones LLC boosted its position in United Bankshares by 4.6% in the fourth quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider's stock valued at $634,000 after buying an additional 748 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in United Bankshares by 18.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 12,813 shares of the financial services provider's stock valued at $481,000 after buying an additional 2,000 shares during the last quarter. Jones Financial Companies Lllp boosted its position in United Bankshares by 55.8% in the fourth quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider's stock valued at $33,000 after buying an additional 310 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in United Bankshares in the fourth quarter valued at approximately $26,000. Finally, Charles Schwab Investment Management Inc. boosted its position in United Bankshares by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,710,588 shares of the financial services provider's stock valued at $64,233,000 after buying an additional 37,532 shares during the last quarter. Hedge funds and other institutional investors own 70.80% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods dropped their target price on United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Piper Sandler reissued a "neutral" rating and issued a $38.50 price target on shares of United Bankshares in a report on Wednesday, March 12th. Finally, Wall Street Zen downgraded United Bankshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $40.63.
Get Our Latest Analysis on United Bankshares
United Bankshares Stock Performance
NASDAQ:UBSI traded up $0.36 during trading hours on Friday, reaching $38.41. The company had a trading volume of 568,118 shares, compared to its average volume of 663,858. United Bankshares, Inc. has a 1-year low of $30.51 and a 1-year high of $44.43. The firm has a market cap of $5.46 billion, a PE ratio of 14.28 and a beta of 0.76. The business's 50 day moving average price is $36.11 and its 200-day moving average price is $36.04. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98.
United Bankshares (NASDAQ:UBSI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $279.02 million. During the same period in the previous year, the firm posted $0.64 earnings per share. The company's revenue was up 13.7% compared to the same quarter last year. Research analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current year.
United Bankshares Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend was Friday, June 13th. United Bankshares's dividend payout ratio (DPR) is presently 55.02%.
About United Bankshares
(
Free Report)
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.
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