Strategic Blueprint LLC Buys New Position in United Bankshares, Inc. (NASDAQ:UBSI)

Strategic Blueprint LLC purchased 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 SEC. The institutional investor purchased 10,088 shares of the financial services provider's stock, valued at approximately $350,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new position in United Bankshares in the fourth quarter valued at about $26,000. Jones Financial Companies Lllp lifted its position in United Bankshares by 55.8% during 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 boosted 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 last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of United Bankshares by 37.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider's stock worth $56,000 after buying an additional 400 shares during the period. Finally, Fifth Third Bancorp grew its position in shares of United Bankshares by 44.4% during the 1st quarter. Fifth Third Bancorp now owns 1,699 shares of the financial services provider's stock worth $59,000 after buying an additional 522 shares during the period. Institutional investors own 70.80% of the company's stock.

United Bankshares Trading Up 0.5%

NASDAQ:UBSI traded up $0.20 during trading hours on Thursday, hitting $38.33. The stock had a trading volume of 246,860 shares, compared to its average volume of 665,149. The business's 50 day moving average is $36.33 and its 200-day moving average is $36.06. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 14.25 and a beta of 0.76. United Bankshares, Inc. has a one year low of $30.51 and a one year high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.07). The firm 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%. United Bankshares's quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. Sell-side analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date was Friday, June 13th. United Bankshares's dividend payout ratio is currently 55.02%.

Wall Street Analysts Forecast Growth

UBSI has been the topic of a number of recent research reports. Piper Sandler reaffirmed a "neutral" rating and issued a $38.50 price objective on shares of United Bankshares in a research note on Wednesday, March 12th. Keefe, Bruyette & Woods reduced their price target 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. Finally, Wall Street Zen downgraded United Bankshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price 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.