Regent Peak Wealth Advisors LLC Purchases New Shares in United Bankshares, Inc. (NASDAQ:UBSI)

Regent Peak Wealth Advisors LLC purchased a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 50,682 shares of the financial services provider's stock, valued at approximately $1,757,000.

A number of other institutional investors and hedge funds have also bought and sold shares of UBSI. SBI Securities Co. Ltd. bought a new position in United Bankshares during the fourth quarter valued at approximately $26,000. Jones Financial Companies Lllp grew its position in United Bankshares by 55.8% during the fourth quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 310 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in United Bankshares by 1,921.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 1,364 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in United Bankshares by 37.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider's stock valued at $56,000 after acquiring an additional 400 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in United Bankshares during the fourth quarter valued at approximately $85,000. 70.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

UBSI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods cut their target price on shares of United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Wall Street Zen cut shares of United Bankshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Piper Sandler reissued a "neutral" rating and set a $38.50 price target on shares of United Bankshares in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $40.63.

Insider Activity at United Bankshares

In related news, Director Sara Dumond purchased 2,600 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were acquired at an average price of $35.01 per share, for a total transaction of $91,026.00. Following the completion of the acquisition, the director now directly owns 5,054 shares in the company, valued at approximately $176,940.54. The trade was a 105.95% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.46% of the stock is currently owned by company insiders.

United Bankshares Trading Up 1.4%

UBSI traded up $0.50 during trading on Tuesday, hitting $37.06. 580,223 shares of the stock traded hands, compared to its average volume of 633,211. The firm has a market capitalization of $5.26 billion, a P/E ratio of 13.53 and a beta of 0.76. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a 50-day moving average of $34.90 and a 200 day moving average of $36.69. United Bankshares, Inc. has a 12-month low of $30.51 and a 12-month high of $44.43.

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 for the quarter, missing the consensus estimate of $0.66 by ($0.07). The firm had revenue of $289.61 million for the quarter, compared to analysts' expectations of $279.02 million. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. The company's quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 EPS. Equities research analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend is Friday, June 13th. United Bankshares's dividend payout ratio (DPR) is currently 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.