Sara Dumond Buys 2,600 Shares of United Bankshares, Inc. (NASDAQ:UBSI) Stock

United Bankshares, Inc. (NASDAQ:UBSI) Director Sara Dumond acquired 2,600 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was purchased at an average cost of $35.01 per share, with a total value of $91,026.00. Following the transaction, the director now owns 5,054 shares in the company, valued at approximately $176,940.54. This trade represents a 105.95 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

United Bankshares Stock Performance

NASDAQ UBSI opened at $35.09 on Wednesday. The firm has a 50-day moving average price of $36.81 and a two-hundred day moving average price of $38.06. United Bankshares, Inc. has a 12-month low of $30.68 and a 12-month high of $44.43. The company has a market capitalization of $5.03 billion, a P/E ratio of 12.81 and a beta of 0.98. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. During the same period in the previous year, the company earned $0.59 earnings per share. 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 announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Friday, March 14th. United Bankshares’s dividend payout ratio (DPR) is currently 54.01%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Quest Partners LLC grew its stake in United Bankshares by 377.2% during the third quarter. Quest Partners LLC now owns 5,641 shares of the financial services provider’s stock worth $209,000 after buying an additional 4,459 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of United Bankshares by 4.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 37,149 shares of the financial services provider’s stock worth $1,378,000 after acquiring an additional 1,744 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of United Bankshares by 10.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 468,851 shares of the financial services provider’s stock worth $17,394,000 after acquiring an additional 42,689 shares in the last quarter. Intech Investment Management LLC bought a new position in United Bankshares in the third quarter valued at approximately $732,000. Finally, Charles Schwab Investment Management Inc. raised its position in United Bankshares by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,673,056 shares of the financial services provider’s stock valued at $62,070,000 after purchasing an additional 83,503 shares in the last quarter. Institutional investors own 70.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. StockNews.com cut shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Monday, January 27th. Stephens restated an “equal weight” rating and set a $43.00 price objective on shares of United Bankshares in a research report on Monday, January 27th. Piper Sandler reaffirmed a “neutral” rating and issued a $38.50 target price on shares of United Bankshares in a research report on Wednesday, March 12th. Finally, Keefe, Bruyette & Woods dropped their price target on United Bankshares from $46.00 to $45.00 and set a “market perform” rating for the company in a 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.88.

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.