Insider Buying: United Bankshares, Inc. (NASDAQ:UBSI) Director Purchases $91,026.00 in Stock

United Bankshares, Inc. (NASDAQ:UBSI) Director Sara Dumond purchased 2,600 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was acquired at an average cost of $35.01 per share, with a total value of $91,026.00. Following the completion of the acquisition, the director now directly owns 5,054 shares of the company’s stock, valued at $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 can be accessed through this hyperlink.

United Bankshares Trading Down 0.1 %

Shares of United Bankshares stock opened at $35.04 on Thursday. 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 company has a market capitalization of $5.02 billion, a P/E ratio of 12.79 and a beta of 0.98. United Bankshares, Inc. has a 1 year low of $30.68 and a 1 year high of $44.43. The company’s fifty day moving average is $36.75 and its two-hundred day moving average is $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 (EPS) for the quarter, topping analysts’ consensus estimates 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 last year, the company earned $0.59 EPS. Analysts forecast that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Announces Dividend

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On United Bankshares

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

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.