Dover Advisors LLC Sells 23,066 Shares of United Bankshares, Inc. $UBSI

Dover Advisors LLC lessened its position in United Bankshares, Inc. (NASDAQ:UBSI) by 32.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,027 shares of the financial services provider’s stock after selling 23,066 shares during the quarter. Dover Advisors LLC’s holdings in United Bankshares were worth $1,825,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in UBSI. Caitong International Asset Management Co. Ltd bought a new position in United Bankshares in the third quarter valued at $25,000. Eurizon Capital SGR S.p.A. bought a new position in shares of United Bankshares during the fourth quarter valued at about $26,000. Rothschild Investment LLC grew its stake in shares of United Bankshares by 174.8% during the third quarter. Rothschild Investment LLC now owns 838 shares of the financial services provider’s stock valued at $31,000 after buying an additional 533 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of United Bankshares by 196.2% during the fourth quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock valued at $33,000 after buying an additional 567 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of United Bankshares by 528.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock valued at $43,000 after buying an additional 988 shares during the last quarter. Institutional investors own 70.80% of the company’s stock.

United Bankshares Stock Up 2.0%

Shares of NASDAQ:UBSI opened at $43.50 on Wednesday. The stock’s 50-day moving average price is $42.79 and its 200-day moving average price is $41.18. United Bankshares, Inc. has a 12-month low of $34.10 and a 12-month high of $45.92. The stock has a market capitalization of $5.99 billion, a P/E ratio of 12.18 and a beta of 0.71. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.10.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.04. The company had revenue of $316.58 million for the quarter, compared to analysts’ expectations of $315.15 million. United Bankshares had a return on equity of 9.26% and a net margin of 27.45%.During the same period last year, the firm earned $0.59 earnings per share. On average, equities analysts anticipate that United Bankshares, Inc. will post 3.64 earnings per share for the current year.

United Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.52 annualized dividend and a dividend yield of 3.5%. United Bankshares’s dividend payout ratio (DPR) is presently 42.58%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Weiss Ratings raised United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. Zacks Research cut United Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $49.00 price objective on shares of United Bankshares in a research note on Monday, April 27th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $45.75.

United Bankshares 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.