United Bankshares, Inc. $UBSI Holdings Raised by Connable Office Inc.

Connable Office Inc. increased its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 9.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,441 shares of the financial services provider’s stock after buying an additional 1,392 shares during the quarter. Connable Office Inc.’s holdings in United Bankshares were worth $599,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in UBSI. Ameritas Advisory Services LLC bought a new position in United Bankshares during the 2nd quarter worth $25,000. Hantz Financial Services Inc. grew its stake in United Bankshares by 261.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 749 shares of the financial services provider’s stock worth $27,000 after buying an additional 542 shares during the last quarter. Signaturefd LLC grew its stake in United Bankshares by 2,281.0% during the 2nd quarter. Signaturefd LLC now owns 1,000 shares of the financial services provider’s stock worth $36,000 after buying an additional 958 shares during the last quarter. Meeder Asset Management Inc. grew its stake in United Bankshares by 144.2% during the 1st quarter. Meeder Asset Management Inc. now owns 1,155 shares of the financial services provider’s stock worth $40,000 after buying an additional 682 shares during the last quarter. Finally, CWM LLC grew its stake in United Bankshares by 226.9% during the 1st quarter. CWM LLC now owns 1,651 shares of the financial services provider’s stock worth $57,000 after buying an additional 1,146 shares during the last quarter. 70.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on UBSI shares. Weiss Ratings restated a “hold (c)” rating on shares of United Bankshares in a research note on Thursday, October 30th. Zacks Research upgraded United Bankshares to a “hold” rating in a research report on Friday, August 8th. Finally, Piper Sandler set a $42.50 price target on United Bankshares and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $41.83.

United Bankshares Trading Up 0.6%

Shares of United Bankshares stock opened at $36.01 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.10. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of 11.81 and a beta of 0.76. The business has a fifty day simple moving average of $37.02 and a 200-day simple moving average of $36.53. United Bankshares, Inc. has a fifty-two week low of $30.50 and a fifty-two week high of $44.43.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.10. The business had revenue of $324.10 million during the quarter, compared to analyst estimates of $307.78 million. United Bankshares had a return on equity of 8.15% and a net margin of 24.37%.During the same quarter in the prior year, the firm posted $0.70 earnings per share. On average, equities analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, September 12th. United Bankshares’s dividend payout ratio is currently 48.52%.

United Bankshares 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.