United Bankshares, Inc. (NASDAQ:UBSI) Director Sara Dumond Acquires 2,600 Shares

United Bankshares, Inc. (NASDAQ:UBSI) Director Sara Dumond bought 2,600 shares of the stock in a transaction dated Monday, March 24th. The shares were acquired at an average price of $35.01 per share, with a total value of $91,026.00. Following the completion of the purchase, the director now directly owns 5,054 shares of the company’s stock, valued at approximately $176,940.54. This represents a 105.95 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

United Bankshares Stock Performance

United Bankshares stock traded up $0.92 during midday trading on Monday, reaching $35.30. 1,097,884 shares of the stock traded hands, compared to its average volume of 530,572. The firm has a fifty day moving average price of $36.88 and a two-hundred day moving average price of $38.09. United Bankshares, Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $44.43. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 12.88 and a beta of 0.98. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating 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 company posted $0.59 EPS. On average, equities research analysts forecast that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.37 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 4.19%. United Bankshares’s dividend payout ratio is presently 54.01%.

Institutional Trading of United Bankshares

A number of institutional investors have recently made changes to their positions in UBSI. Norges Bank bought a new stake in United Bankshares during the fourth quarter worth approximately $54,712,000. Raymond James Financial Inc. bought a new stake in shares of United Bankshares in the 4th quarter worth $14,948,000. JPMorgan Chase & Co. lifted its holdings in shares of United Bankshares by 39.7% in the fourth quarter. JPMorgan Chase & Co. now owns 830,774 shares of the financial services provider’s stock valued at $31,196,000 after buying an additional 235,955 shares during the period. Northern Trust Corp boosted its stake in United Bankshares by 13.7% during the fourth quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider’s stock valued at $66,614,000 after buying an additional 213,441 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in United Bankshares during the fourth quarter worth about $7,383,000. 70.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UBSI has been the topic of several research analyst reports. Stephens reaffirmed an “equal weight” rating and set a $43.00 price target on shares of United Bankshares in a research report on Monday, January 27th. Piper Sandler reiterated a “neutral” rating and issued a $38.50 target price on shares of United Bankshares in a research report on Wednesday, March 12th. Keefe, Bruyette & Woods reduced their price objective on United Bankshares from $46.00 to $45.00 and set a “market perform” rating on the stock in a research note on Monday, January 27th. Finally, StockNews.com lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $41.88.

United Bankshares Company 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.