Dover Advisors LLC Lowers Position in United Bankshares, Inc. $UBSI

Dover Advisors LLC trimmed its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 32.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 47,027 shares of the financial services provider’s stock after selling 23,066 shares during the period. Dover Advisors LLC’s holdings in United Bankshares were worth $1,825,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of United Bankshares by 64.6% during the third quarter. JPMorgan Chase & Co. now owns 782,292 shares of the financial services provider’s stock valued at $29,109,000 after purchasing an additional 307,159 shares during the last quarter. AlTi Global Inc. purchased a new position in shares of United Bankshares during the third quarter valued at approximately $423,000. SG Americas Securities LLC lifted its holdings in shares of United Bankshares by 168.3% during the fourth quarter. SG Americas Securities LLC now owns 56,866 shares of the financial services provider’s stock valued at $2,184,000 after purchasing an additional 35,673 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of United Bankshares by 1.2% during the third quarter. Victory Capital Management Inc. now owns 3,624,628 shares of the financial services provider’s stock valued at $134,872,000 after purchasing an additional 42,255 shares during the last quarter. Finally, 1834 Investment Advisors Co. purchased a new position in shares of United Bankshares during the fourth quarter valued at approximately $3,700,000. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Raymond James Financial reiterated an “outperform” rating and set a $49.00 target price on shares of United Bankshares in a report on Monday, April 27th. Weiss Ratings raised United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 13th. Finally, Zacks Research lowered United Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.75.

United Bankshares Stock Performance

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

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. The business had revenue of $316.58 million during the quarter, compared to analyst estimates of $315.15 million. United Bankshares had a net margin of 27.45% and a return on equity of 9.26%. During the same period in the previous year, the business earned $0.59 EPS. As a group, research analysts forecast that United Bankshares, Inc. will post 3.64 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, June 12th. This represents a $1.52 dividend on an annualized basis and a yield of 3.5%. United Bankshares’s payout ratio is currently 42.58%.

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.