Regent Peak Wealth Advisors LLC Takes $1.89 Million Position in United Bankshares, Inc. $UBSI

Regent Peak Wealth Advisors LLC bought a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 50,682 shares of the financial services provider’s stock, valued at approximately $1,886,000.

Several other institutional investors also recently modified their holdings of UBSI. Norges Bank bought a new stake in shares of United Bankshares during the 2nd quarter worth $60,618,000. First Trust Advisors LP lifted its holdings in shares of United Bankshares by 367.5% during the second quarter. First Trust Advisors LP now owns 1,935,979 shares of the financial services provider’s stock valued at $70,528,000 after purchasing an additional 1,521,864 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in United Bankshares in the 1st quarter worth about $10,856,000. AQR Capital Management LLC raised its holdings in United Bankshares by 100.1% during the 2nd quarter. AQR Capital Management LLC now owns 562,111 shares of the financial services provider’s stock worth $20,478,000 after buying an additional 281,190 shares during the period. Finally, Jupiter Asset Management Ltd. lifted its stake in United Bankshares by 518.0% during the second quarter. Jupiter Asset Management Ltd. now owns 285,811 shares of the financial services provider’s stock valued at $10,412,000 after buying an additional 239,567 shares in the last quarter. Institutional investors own 70.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of United Bankshares in a report on Monday. Zacks Research downgraded shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Piper Sandler set a $42.50 price target on United Bankshares and gave the company an “overweight” rating in a research report on Thursday, October 23rd. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $41.83.

United Bankshares Trading Up 0.1%

United Bankshares stock opened at $39.57 on Friday. United Bankshares, Inc. has a 12 month low of $30.50 and a 12 month high of $40.52. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10. The stock has a market cap of $5.56 billion, a P/E ratio of 12.97 and a beta of 0.81. The company’s fifty day simple moving average is $37.33 and its 200-day simple moving average is $37.09.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.10. United Bankshares had a return on equity of 8.15% and a net margin of 24.37%.The firm had revenue of $280.90 million during the quarter, compared to analysts’ expectations of $307.78 million. During the same quarter last year, the firm earned $0.70 earnings per share. As a group, sell-side analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 12th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, December 12th. This is a boost from United Bankshares’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a yield of 3.8%. United Bankshares’s payout ratio is 49.84%.

United Bankshares Company Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.