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

United Bankshares, Inc. (NASDAQ:UBSI) Director Sara Dumond purchased 2,600 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was bought at an average price of $35.01 per share, with a total value of $91,026.00. Following the acquisition, the director now directly owns 5,054 shares in the company, valued at approximately $176,940.54. This represents a 105.95 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

United Bankshares Trading Down 0.1 %

Shares of UBSI opened at $35.04 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. United Bankshares, Inc. has a 1-year low of $30.68 and a 1-year high of $44.43. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 12.79 and a beta of 0.98. The firm has a 50 day simple moving average of $36.75 and a 200-day simple moving average of $38.04.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping 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 quarter in the prior year, the business earned $0.59 earnings per share. Equities analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 4.22%. United Bankshares’s dividend payout ratio (DPR) is 54.01%.

Institutional Investors Weigh In On United Bankshares

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quest Partners LLC boosted its position 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 acquiring an additional 4,459 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of United Bankshares by 4.9% during the third quarter. PNC Financial Services Group Inc. now owns 37,149 shares of the financial services provider’s stock worth $1,378,000 after purchasing an additional 1,744 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of United Bankshares by 10.0% during the third 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 purchasing an additional 42,689 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of United Bankshares in the third quarter valued at $732,000. Finally, Charles Schwab Investment Management Inc. increased its stake in United Bankshares by 5.3% in 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 during the last quarter. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UBSI has been the subject of a number of research analyst reports. StockNews.com cut shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods dropped their price objective on United Bankshares from $46.00 to $45.00 and set a “market perform” rating for the company in a research note on Monday, January 27th. Piper Sandler reiterated a “neutral” rating and set a $38.50 target price on shares of United Bankshares in a research report on Wednesday, March 12th. Finally, Stephens restated an “equal weight” rating and issued a $43.00 price target on shares of United Bankshares in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average 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.