United Bankshares (NASDAQ:UBSI) Director Sells $148,544.00 in Stock

United Bankshares, Inc. (NASDAQ:UBSI) Director Mark Nesselroad sold 3,200 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $46.42, for a total transaction of $148,544.00. Following the completion of the sale, the director directly owned 32,224 shares in the company, valued at $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 SEC, which can be accessed through this hyperlink.

United Bankshares Price Performance

UBSI stock opened at $47.83 on Friday. The stock has a 50-day moving average price of $47.56 and a two-hundred day moving average price of $44.48. United Bankshares, Inc. has a 1 year low of $34.10 and a 1 year high of $49.62. The stock has a market cap of $6.51 billion, a PE ratio of 13.03 and a beta of 0.70. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10.

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

United Bankshares Dividend Announcement

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

Institutional Trading of United Bankshares

A number of large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in United Bankshares by 20.5% during the first quarter. Bank of America Corp DE now owns 1,631,894 shares of the financial services provider’s stock worth $67,593,000 after purchasing an additional 277,836 shares during the period. EP Wealth Advisors LLC acquired a new position in United Bankshares during the second quarter worth approximately $3,979,000. Deutsche Bank AG acquired a new stake in shares of United Bankshares in the second quarter valued at approximately $6,697,000. Amundi lifted its position in shares of United Bankshares by 204.8% in the first quarter. Amundi now owns 49,874 shares of the financial services provider’s stock valued at $2,066,000 after buying an additional 33,511 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of United Bankshares during the 2nd quarter worth approximately $5,875,000. Institutional investors and hedge funds own 70.80% of the company’s stock.

Wall Street Analyst Weigh In

UBSI has been the subject of several recent research reports. Raymond James Financial increased their target price on shares of United Bankshares from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Weiss Ratings restated a “buy (b)” rating on shares of United Bankshares in a research note on Monday, July 6th. Hovde Group raised their price objective on 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 lifted their target price on 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, Wall Street Zen upgraded United Bankshares from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $47.80.

About United Bankshares

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.