United Bankshares, Inc. (NASDAQ:UBSI) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its holdings in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 89.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in 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 valued at $537,362,000 after acquiring an additional 115,681 shares during the last quarter. Earnest Partners LLC grew its holdings in shares of United Bankshares by 0.7% during the 4th quarter. Earnest Partners LLC now owns 4,199,136 shares of the financial services provider's stock worth $157,678,000 after purchasing an additional 29,898 shares during the period. Northern Trust Corp increased its position in United Bankshares by 13.7% during the 4th quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider's stock worth $66,614,000 after purchasing an additional 213,441 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in United Bankshares by 2.2% during 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 purchased a new position in United Bankshares in the fourth quarter valued at approximately $54,712,000. Institutional investors and hedge funds own 70.80% of the company's stock.

United Bankshares Stock Performance

Shares of NASDAQ UBSI traded up $0.50 during midday trading on Tuesday, hitting $37.06. The company's stock had a trading volume of 580,223 shares, compared to its average volume of 632,718. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. United Bankshares, Inc. has a 1-year low of $30.51 and a 1-year high of $44.43. The firm's fifty day moving average price is $34.80 and its 200-day moving average price is $36.69. The firm has a market cap of $5.26 billion, a P/E ratio of 13.53 and a beta of 0.76.

United Bankshares (NASDAQ:UBSI - Get Free Report) last posted its 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). The company had revenue of $289.61 million for the quarter, compared to the consensus estimate 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 for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the company posted $0.64 earnings per share. On average, sell-side analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.99%. The ex-dividend date is Friday, June 13th. United Bankshares's dividend payout ratio is presently 55.02%.

Insider Buying and Selling at United Bankshares

In other United Bankshares news, Director Sara Dumond acquired 2,600 shares of United Bankshares stock in a transaction dated Monday, March 24th. The stock was acquired at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the completion of the transaction, the director now owns 5,054 shares in the company, valued at approximately $176,940.54. This represents a 105.95% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.46% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on UBSI. 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. Wall Street Zen lowered shares of United Bankshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Piper Sandler restated a "neutral" rating and issued a $38.50 target price on shares of United Bankshares in a research note on Wednesday, March 12th. One research 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.com, United Bankshares has a consensus rating of "Hold" and a consensus price target 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.