Wealth Enhancement Advisory Services LLC Grows Stake in United Bankshares, Inc. (NASDAQ:UBSI)

Wealth Enhancement Advisory Services LLC raised its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 89.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,958 shares of the financial services provider's stock after purchasing an additional 10,377 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in United Bankshares were worth $825,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of UBSI. SBI Securities Co. Ltd. purchased a new position in United Bankshares during the 4th quarter valued at about $26,000. Jones Financial Companies Lllp grew its position 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 worth $33,000 after buying an additional 310 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in shares of United Bankshares by 1,921.1% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider's stock worth $54,000 after buying an additional 1,364 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position 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 worth $56,000 after buying an additional 400 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of United Bankshares in the 4th quarter worth approximately $85,000. Institutional investors own 70.80% of the company's stock.

Insider Transactions at United Bankshares

In other news, Director Sara Dumond acquired 2,600 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were purchased at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the transaction, the director now directly owns 5,054 shares in the company, valued at approximately $176,940.54. This represents a 105.95% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.46% of the company's stock.

United Bankshares Stock Down 3.0%

NASDAQ:UBSI traded down $1.10 during mid-day trading on Friday, hitting $35.23. The stock had a trading volume of 551,101 shares, compared to its average volume of 634,267. The stock has a 50-day simple moving average of $35.16 and a two-hundred day simple moving average of $36.59. The company has a market capitalization of $5.00 billion, a PE ratio of 12.86 and a beta of 0.76. United Bankshares, Inc. has a twelve month low of $30.51 and a twelve month high of $44.43. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued its 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 during the quarter, compared to analyst estimates of $279.02 million. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. The firm's revenue was up 13.7% compared to the same quarter last year. During the same period last year, the business earned $0.64 EPS. On average, equities research analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Announces Dividend

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 given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.20%. United Bankshares's dividend payout ratio (DPR) is presently 55.02%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Piper Sandler reiterated a "neutral" rating and set a $38.50 price objective on shares of United Bankshares in a research note on Wednesday, March 12th. Wall Street Zen cut shares of United Bankshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of 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. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, United Bankshares currently has an average 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.