Capital Investment Advisors LLC Purchases Shares of 17,412 United Bankshares, Inc. (NASDAQ:UBSI)

Capital Investment Advisors LLC purchased a new stake in United Bankshares, Inc. (NASDAQ:UBSI) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 17,412 shares of the financial services provider’s stock, valued at approximately $604,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Truist Financial Corp grew its position in United Bankshares by 69.8% in the 4th quarter. Truist Financial Corp now owns 22,916 shares of the financial services provider’s stock worth $860,000 after purchasing an additional 9,418 shares in the last quarter. Nomura Holdings Inc. bought a new position in United Bankshares in the 4th quarter valued at $671,000. Janus Henderson Group PLC boosted its holdings in United Bankshares by 5.3% in the 4th quarter. Janus Henderson Group PLC now owns 61,534 shares of the financial services provider’s stock valued at $2,310,000 after purchasing an additional 3,100 shares during the period. JPMorgan Chase & Co. boosted its holdings in United Bankshares by 39.7% in the 4th quarter. JPMorgan Chase & Co. now owns 830,774 shares of the financial services provider’s stock valued at $31,196,000 after purchasing an additional 235,955 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of United Bankshares by 9.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,065 shares of the financial services provider’s stock valued at $1,204,000 after buying an additional 2,899 shares in the last quarter. 70.80% of the stock is owned by institutional investors.

Insider Transactions at United Bankshares

In other news, Director Sara Dumond bought 2,600 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the purchase, the director now directly owns 5,054 shares in the company, valued at approximately $176,940.54. This trade represents a 105.95% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.46% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on UBSI. Wall Street Zen cut shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods cut their target price on shares of United Bankshares from $42.00 to $40.00 and set a “market perform” rating on the stock in a research note on Monday, April 28th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $38.50 target price on shares of United Bankshares in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $40.63.

United Bankshares Price Performance

Shares of NASDAQ:UBSI opened at $37.06 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a fifty day moving average price of $34.90 and a 200 day moving average price of $36.69. United Bankshares, Inc. has a fifty-two week low of $30.51 and a fifty-two week high of $44.43. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of 13.53 and a beta of 0.76.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.07). United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. The firm had revenue of $289.61 million during the quarter, compared to analysts’ expectations of $279.02 million. During the same period in the prior year, the company posted $0.64 EPS. The company’s revenue was up 13.7% compared to the same quarter last year. As a group, sell-side analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Friday, June 13th. United Bankshares’s payout ratio is currently 55.02%.

United Bankshares Profile

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.