Mark Nesselroad Sells 3,200 Shares of United Bankshares (NASDAQ:UBSI) Stock

United Bankshares, Inc. (NASDAQ:UBSI) Director Mark Nesselroad sold 3,200 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $46.42, for a total transaction of $148,544.00. Following the completion of the transaction, the director owned 32,224 shares in the company, valued at $1,495,838.08. The trade was a 9.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

United Bankshares Stock Performance

Shares of NASDAQ:UBSI opened at $47.59 on Friday. The company has a market cap of $6.48 billion, a price-to-earnings ratio of 12.97 and a beta of 0.70. The company has a 50-day moving average price of $47.53 and a 200-day moving average price of $44.45. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. United Bankshares, Inc. has a 12 month low of $34.10 and a 12 month high of $49.62.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.06. United Bankshares had a return on equity of 9.39% and a net margin of 27.97%.The company had revenue of $323.82 million for the quarter, compared to analysts’ expectations of $320.07 million. During the same period last year, the firm earned $0.85 earnings per share. As a group, equities analysts anticipate that United Bankshares, Inc. will post 3.71 EPS for the current year.

United Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.52 annualized dividend and a dividend yield of 3.2%. United Bankshares’s payout ratio is 41.42%.

Hedge Funds Weigh In On United Bankshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of United Bankshares by 4.6% in the 4th quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider’s stock worth $634,000 after buying an additional 748 shares during the period. Royal Bank of Canada boosted its stake in United Bankshares by 2.0% during the first quarter. Royal Bank of Canada now owns 66,649 shares of the financial services provider’s stock worth $2,310,000 after acquiring an additional 1,298 shares in the last quarter. Millennium Management LLC boosted its stake in United Bankshares by 464.1% during the first quarter. Millennium Management LLC now owns 137,336 shares of the financial services provider’s stock worth $4,761,000 after acquiring an additional 112,988 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in United Bankshares by 7.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 409,428 shares of the financial services provider’s stock worth $14,195,000 after purchasing an additional 28,366 shares during the period. Finally, Jane Street Group LLC increased its stake in shares of United Bankshares by 564.0% during the first quarter. Jane Street Group LLC now owns 182,540 shares of the financial services provider’s stock valued at $6,329,000 after purchasing an additional 155,051 shares in the last quarter. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wall Street Zen raised United Bankshares from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Keefe, Bruyette & Woods upped their price objective on shares of United Bankshares from $46.00 to $48.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Raymond James Financial lifted their target price on shares of United Bankshares from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Hovde Group increased their price target on shares of United Bankshares from $49.00 to $50.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of United Bankshares in a report on Monday, July 6th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.80.

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.