6,666 Shares in United Bankshares, Inc. (NASDAQ:UBSI) Purchased by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. acquired a new position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 6,666 shares of the financial services provider's stock, valued at approximately $231,000.

Several other institutional investors and hedge funds have also bought and sold shares of UBSI. SBI Securities Co. Ltd. purchased a new position in shares of United Bankshares in the 4th quarter valued at approximately $26,000. Jones Financial Companies Lllp lifted its stake in shares of United Bankshares by 55.8% in the 4th quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 310 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of United Bankshares by 726.5% in the 1st quarter. Farther Finance Advisors LLC now owns 967 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 850 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of United Bankshares by 37.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 400 shares during the period. Finally, Fifth Third Bancorp lifted its stake in shares of United Bankshares by 44.4% in the 1st quarter. Fifth Third Bancorp now owns 1,699 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 522 shares during the period. Hedge funds and other institutional investors own 70.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on UBSI. Wall Street Zen cut United Bankshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Keefe, Bruyette & Woods reduced their price objective 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. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $38.50 price objective on shares of United Bankshares in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $40.63.

United Bankshares Stock Performance

Shares of UBSI traded down $0.08 during trading hours on Wednesday, hitting $38.13. The stock had a trading volume of 486,909 shares, compared to its average volume of 665,541. 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, Inc. has a 12 month low of $30.51 and a 12 month high of $44.43. The firm has a market capitalization of $5.42 billion, a PE ratio of 14.17 and a beta of 0.76. The stock has a fifty day moving average price of $36.26 and a 200 day moving average price of $36.04.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued its quarterly earnings data 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 return on equity of 7.36% and a net margin of 22.35%. The firm had revenue of $289.61 million during the quarter, compared to the consensus estimate of $279.02 million. During the same period in the previous year, the firm earned $0.64 EPS. The business's revenue was up 13.7% on a year-over-year basis. Analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a dividend of $0.37 per share. The ex-dividend date was Friday, June 13th. This represents a $1.48 annualized dividend and a yield of 3.88%. United Bankshares's dividend payout ratio (DPR) is presently 55.02%.

United Bankshares Company Profile

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.