McKinley Carter Wealth Services Inc. Has $1.07 Million Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

McKinley Carter Wealth Services Inc. grew its position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 30.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,820 shares of the financial services provider's stock after purchasing an additional 7,206 shares during the period. McKinley Carter Wealth Services Inc.'s holdings in United Bankshares were worth $1,069,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings 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 worth $537,362,000 after buying an additional 115,681 shares during the period. Earnest Partners LLC lifted its position in shares of United Bankshares by 0.7% during 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 buying an additional 29,898 shares during the last quarter. Northern Trust Corp boosted its stake in 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 acquiring an additional 213,441 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of United Bankshares by 2.2% in the 4th 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 in the last quarter. Finally, Norges Bank acquired a new stake in United Bankshares in the fourth quarter worth about $54,712,000. 70.80% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at United Bankshares

In other United Bankshares news, Director Sara Dumond purchased 2,600 shares of the stock in a transaction dated Monday, March 24th. The shares were bought at an average cost of $35.01 per share, with a total value of $91,026.00. Following the completion of the acquisition, the director now owns 5,054 shares of the company's stock, valued at approximately $176,940.54. This trade represents a 105.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.46% of the company's stock.

United Bankshares Stock Performance

Shares of United Bankshares stock traded down $0.77 during trading hours on Friday, hitting $35.19. 257,300 shares of the company were exchanged, compared to its average volume of 631,802. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 12.86 and a beta of 0.76. The business has a 50-day moving average of $35.09 and a 200-day moving average of $36.64. United Bankshares, Inc. has a 1 year low of $30.51 and a 1 year high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.07). United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. The company had revenue of $289.61 million for the quarter, compared to analyst estimates of $279.02 million. During the same quarter in the previous year, the business posted $0.64 earnings per share. United Bankshares's revenue was up 13.7% on a year-over-year basis. As a group, analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date is Friday, June 13th. United Bankshares's dividend payout ratio is presently 55.02%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. 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. Keefe, Bruyette & Woods decreased their price objective 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. Finally, Wall Street Zen cut United Bankshares from a "hold" rating to a "sell" rating in a research 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 stock. According to data from MarketBeat, United Bankshares currently has a consensus rating of "Hold" and a consensus target price of $40.63.

United Bankshares 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.