Silvercrest Asset Management Group LLC Has $88.13 Million Stock Position in United Bankshares, Inc. (NASDAQ:UBSI)

Silvercrest Asset Management Group LLC lowered its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,346,968 shares of the financial services provider's stock after selling 107,461 shares during the period. Silvercrest Asset Management Group LLC owned 1.74% of United Bankshares worth $88,129,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in United Bankshares in the fourth quarter valued at $26,000. Jones Financial Companies Lllp boosted its stake in United Bankshares by 55.8% in 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. Wilmington Savings Fund Society FSB boosted its position in shares of United Bankshares by 1,921.1% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 1,364 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in shares of United Bankshares by 37.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider's stock valued at $56,000 after acquiring an additional 400 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in United Bankshares during the fourth quarter worth about $85,000. 70.80% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

United Bankshares Price Performance

United Bankshares stock traded down $0.81 during midday trading on Wednesday, reaching $36.37. The company's stock had a trading volume of 270,987 shares, compared to its average volume of 624,602. 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 cap of $5.17 billion, a PE ratio of 13.28 and a beta of 0.74. United Bankshares, Inc. has a 52 week low of $30.51 and a 52 week high of $44.43. The business has a 50-day moving average price of $34.42 and a 200-day moving average price of $37.25.

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 for the quarter, missing analysts' consensus estimates of $0.66 by ($0.07). The company 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 company'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. On average, sell-side analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Announces Dividend

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. The ex-dividend date is Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a yield of 4.07%. United Bankshares's dividend payout ratio is currently 55.02%.

Analyst Ratings Changes

A number of brokerages have issued reports on UBSI. Stephens restated an "equal weight" rating and set a $43.00 target price on shares of United Bankshares in a research report on Monday, January 27th. StockNews.com lowered United Bankshares from a "hold" rating to a "sell" rating in a research note on Wednesday. Keefe, Bruyette & Woods reduced their target price on 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, Piper Sandler restated a "neutral" rating and issued a $38.50 target price on shares of United Bankshares in a research report on Wednesday, March 12th. One equities 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.com, the stock currently has a consensus rating of "Hold" and an average 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.