13,169 Shares in United Bankshares, Inc. (NASDAQ:UBSI) Acquired by NovaPoint Capital LLC

NovaPoint Capital LLC acquired a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,169 shares of the financial services provider's stock, valued at approximately $457,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of United Bankshares by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,310,562 shares of the financial services provider's stock valued at $537,362,000 after purchasing an additional 115,681 shares during the period. Earnest Partners LLC increased its stake in shares of United Bankshares by 0.7% in the fourth quarter. Earnest Partners LLC now owns 4,199,136 shares of the financial services provider's stock valued at $157,678,000 after purchasing an additional 29,898 shares during the period. Northern Trust Corp increased its stake in shares of United Bankshares by 13.7% in the fourth quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider's stock valued at $66,614,000 after purchasing an additional 213,441 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of 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 purchasing an additional 37,532 shares during the period. Finally, Norges Bank acquired a new stake in shares of United Bankshares in the fourth quarter valued at approximately $54,712,000. Institutional investors and hedge funds own 70.80% of the company's stock.

United Bankshares Price Performance

Shares of United Bankshares stock traded up $0.36 on Thursday, hitting $38.41. The company had a trading volume of 568,118 shares, compared to its average volume of 662,619. The business has a 50-day simple moving average of $36.02 and a 200-day simple moving average of $36.06. 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 company has a market cap of $5.46 billion, a PE ratio of 14.28 and a beta of 0.76. 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 data 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). The company had revenue of $289.61 million during the quarter, compared to the consensus estimate of $279.02 million. United Bankshares had a net margin of 22.35% and a return on equity of 7.36%. The company's revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share. Research analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were issued a $0.37 dividend. This represents a $1.48 annualized dividend 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%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on UBSI shares. Wall Street Zen lowered shares of United Bankshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Keefe, Bruyette & Woods dropped their price target 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 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 stock. According to MarketBeat.com, the stock currently 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.