Sequoia Financial Advisors LLC Invests $850,000 in United Bankshares, Inc. (NASDAQ:UBSI)

Sequoia Financial Advisors LLC purchased a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 24,518 shares of the financial services provider's stock, valued at approximately $850,000.

Several other hedge funds also recently added to or reduced their stakes in UBSI. Brighton Jones LLC boosted its holdings in United Bankshares by 4.6% during the 4th quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider's stock valued at $634,000 after acquiring an additional 748 shares during the period. Los Angeles Capital Management LLC lifted its position in shares of United Bankshares by 18.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 12,813 shares of the financial services provider's stock worth $481,000 after purchasing an additional 2,000 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of United Bankshares by 55.8% during the fourth quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider's stock worth $33,000 after purchasing an additional 310 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of United Bankshares during the fourth quarter valued at $26,000. Finally, Charles Schwab Investment Management Inc. grew its holdings 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 worth $64,233,000 after purchasing an additional 37,532 shares during the last quarter. 70.80% of the stock is currently owned by institutional investors.

United Bankshares Stock Up 0.8%

Shares of UBSI stock traded up $0.29 on Wednesday, hitting $37.85. The stock had a trading volume of 79,517 shares, compared to its average volume of 656,777. United Bankshares, Inc. has a one year low of $30.51 and a one year high of $44.43. The business has a 50 day moving average price of $35.87 and a 200 day moving average price of $36.07. The company has a market cap of $5.38 billion, a PE ratio of 14.01 and a beta of 0.76. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10.

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 business had revenue of $289.61 million during the quarter, compared to the consensus estimate of $279.02 million. During the same quarter in the prior year, the firm posted $0.64 EPS. The company's revenue for the quarter was up 13.7% compared to the same quarter last year. Research analysts anticipate that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend was Friday, June 13th. United Bankshares's payout ratio is 55.02%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wall Street Zen lowered shares of United Bankshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Keefe, Bruyette & Woods reduced 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 research report on Monday, April 28th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $38.50 price target on shares of United Bankshares in a research note on Wednesday, March 12th. One 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, United Bankshares presently has a consensus rating of "Hold" and an average 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.