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

United Bankshares, Inc. (NASDAQ:UBSI) Director Mark Nesselroad sold 3,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $46.42, for a total value of $148,544.00. Following the completion of the transaction, the director owned 32,224 shares of the company’s stock, valued at approximately $1,495,838.08. This represents a 9.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

United Bankshares Trading Up 1.7%

Shares of United Bankshares stock opened at $47.30 on Thursday. United Bankshares, Inc. has a 12-month low of $34.10 and a 12-month high of $49.62. The stock has a market cap of $6.44 billion, a P/E ratio of 12.89 and a beta of 0.70. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $47.50 and its 200-day moving average is $44.43.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.06. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. The company had revenue of $323.82 million for the quarter, compared to analyst estimates of $320.07 million. During the same period in the previous year, the business earned $0.85 EPS. Equities research analysts predict that United Bankshares, Inc. will post 3.71 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

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

Wall Street Analyst Weigh In

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

Institutional Trading of United Bankshares

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in United Bankshares during the 2nd quarter worth $925,212,000. California State Teachers Retirement System boosted its position in shares of United Bankshares by 4,650.6% in the second quarter. California State Teachers Retirement System now owns 7,393,983 shares of the financial services provider’s stock valued at $338,866,000 after acquiring an additional 7,238,340 shares during the period. Norges Bank bought a new position in United Bankshares during the fourth quarter worth about $68,366,000. Bank of America Corp DE acquired a new stake in United Bankshares in the 2nd quarter worth about $64,802,000. Finally, Bank of New York Mellon Corp acquired a new stake in United Bankshares in the 2nd quarter worth about $60,968,000. 70.80% of the stock is owned by institutional investors and hedge funds.

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.