Wealthcare Advisory Partners LLC Decreases Stock Position in United Bankshares, Inc. (NASDAQ:UBSI)

Wealthcare Advisory Partners LLC reduced its position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 17.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,352 shares of the financial services provider's stock after selling 9,932 shares during the quarter. Wealthcare Advisory Partners LLC's holdings in United Bankshares were worth $1,642,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Yousif Capital Management LLC grew its position in shares of United Bankshares by 2.6% in the 1st quarter. Yousif Capital Management LLC now owns 48,549 shares of the financial services provider's stock worth $1,683,000 after buying an additional 1,223 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in United Bankshares by 726.5% in the first quarter. Farther Finance Advisors LLC now owns 967 shares of the financial services provider's stock worth $33,000 after acquiring an additional 850 shares during the period. City Holding Co. boosted its holdings in United Bankshares by 9.0% in the first quarter. City Holding Co. now owns 10,090 shares of the financial services provider's stock valued at $350,000 after acquiring an additional 832 shares in the last quarter. Capital Investment Advisors LLC bought a new stake in United Bankshares in the first quarter valued at $604,000. Finally, UMB Bank n.a. increased its position in United Bankshares by 207.7% during the 1st quarter. UMB Bank n.a. now owns 2,597 shares of the financial services provider's stock valued at $90,000 after purchasing an additional 1,753 shares during the period. Hedge funds and other institutional investors own 70.80% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on UBSI. Keefe, Bruyette & Woods dropped their target price 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. Wall Street Zen downgraded United Bankshares from a "hold" rating to a "sell" rating in a report 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 analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $40.63.

United Bankshares Stock Down 0.4%

NASDAQ UBSI traded down $0.15 during trading hours on Thursday, reaching $36.33. 434,775 shares of the company's stock traded hands, compared to its average volume of 633,164. United Bankshares, Inc. has a 52-week low of $30.51 and a 52-week high of $44.43. The firm has a market cap of $5.16 billion, a PE ratio of 13.26 and a beta of 0.76. The firm has a 50-day simple moving average of $34.99 and a 200 day simple moving average of $36.69. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.07). The business had revenue of $289.61 million for the quarter, compared to analysts' expectations of $279.02 million. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. United Bankshares's revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 earnings per share. Sell-side analysts anticipate 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 issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Friday, June 13th. United Bankshares's dividend payout ratio (DPR) is 55.02%.

Insider Transactions at United Bankshares

In related news, Director Sara Dumond purchased 2,600 shares of the stock in a transaction dated Monday, March 24th. The stock was purchased at an average price of $35.01 per share, with a total value of $91,026.00. Following the transaction, the director now directly owns 5,054 shares in the company, valued at $176,940.54. This trade represents a 105.95% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.46% of the company's stock.

United Bankshares Company 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.