United Bankshares, Inc. $UBSI Shares Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC grew its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 6.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,222 shares of the financial services provider’s stock after acquiring an additional 1,672 shares during the period. Kingsview Wealth Management LLC’s holdings in United Bankshares were worth $992,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Ameritas Advisory Services LLC acquired a new position in United Bankshares during the second quarter valued at $25,000. Hantz Financial Services Inc. lifted its holdings in shares of United Bankshares by 261.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 749 shares of the financial services provider’s stock valued at $27,000 after buying an additional 542 shares during the period. Signaturefd LLC boosted its stake in shares of United Bankshares by 2,281.0% in the second quarter. Signaturefd LLC now owns 1,000 shares of the financial services provider’s stock worth $36,000 after buying an additional 958 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in shares of United Bankshares by 144.2% in the first quarter. Meeder Asset Management Inc. now owns 1,155 shares of the financial services provider’s stock worth $40,000 after buying an additional 682 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in United Bankshares by 394.1% during the second quarter. Allworth Financial LP now owns 1,265 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 1,009 shares during the period. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on UBSI. Piper Sandler set a $42.50 price target on United Bankshares and gave the company an “overweight” rating in a report on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of United Bankshares in a research note on Thursday, October 30th. Finally, Zacks Research raised shares of United Bankshares from a “hold” rating to a “strong-buy” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.83.

United Bankshares Stock Performance

NASDAQ:UBSI opened at $35.76 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $5.02 billion, a PE ratio of 11.72 and a beta of 0.83. United Bankshares, Inc. has a fifty-two week low of $30.50 and a fifty-two week high of $44.43. The company has a fifty day moving average of $36.47 and a two-hundred day moving average of $36.68.

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

United Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 12th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, December 12th. This is an increase from United Bankshares’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.3%. United Bankshares’s payout ratio is currently 48.52%.

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.