Cary Street Partners Financial LLC Buys Shares of 5,519 United Bankshares, Inc. (NASDAQ:UBSI)

Cary Street Partners Financial LLC acquired a new position in United Bankshares, Inc. (NASDAQ:UBSI) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 5,519 shares of the financial services provider’s stock, valued at approximately $207,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new position in United Bankshares in the 4th quarter valued at about $26,000. Jones Financial Companies Lllp boosted its position in United Bankshares by 55.8% during the fourth quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 310 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its position in United Bankshares by 1,921.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 1,364 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in 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 acquiring an additional 400 shares during the period. Finally, Headlands Technologies LLC acquired a new position in United Bankshares in the 4th quarter valued at $85,000. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

United Bankshares Stock Performance

United Bankshares stock opened at $35.52 on Monday. 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, Inc. has a 12 month low of $30.51 and a 12 month high of $44.43. The company has a market cap of $5.10 billion, a price-to-earnings ratio of 12.96 and a beta of 0.74. The stock’s 50-day moving average is $34.06 and its 200-day moving average is $37.28.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data 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). United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. The business had revenue of $289.61 million for the quarter, compared to analysts’ expectations of $279.02 million. During the same quarter in the prior year, the firm earned $0.64 earnings per share. United Bankshares’s quarterly revenue was up 13.7% compared to the same quarter last year. Equities analysts anticipate that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 4.17%. United Bankshares’s dividend payout ratio is currently 55.02%.

Insider Buying and Selling at United Bankshares

In related news, Director Sara Dumond bought 2,600 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were acquired at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the acquisition, the director now owns 5,054 shares in the company, valued at $176,940.54. This represents a 105.95% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 3.46% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on UBSI shares. Keefe, Bruyette & Woods lowered their price objective on 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. Piper Sandler reissued a “neutral” rating and issued a $38.50 price target on shares of United Bankshares in a research note on Wednesday, March 12th. StockNews.com downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Monday, January 27th. Finally, Stephens reissued an “equal weight” rating and issued a $43.00 target price on shares of United Bankshares in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $40.63.

About United Bankshares

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.