Wipfli Financial Advisors LLC Takes Position in United Bankshares, Inc. (NASDAQ:UBSI)

Wipfli Financial Advisors LLC acquired a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSIGet Rating) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 1,167 shares of the financial services provider’s stock, valued at approximately $42,000.

Other large investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. purchased a new position in shares of United Bankshares during the 2nd quarter valued at about $31,000. Russell Investments Group Ltd. raised its stake in United Bankshares by 13.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 55,640 shares of the financial services provider’s stock valued at $1,949,000 after purchasing an additional 6,800 shares during the period. Texas Permanent School Fund raised its stake in United Bankshares by 1.5% during the 2nd quarter. Texas Permanent School Fund now owns 98,171 shares of the financial services provider’s stock valued at $3,443,000 after purchasing an additional 1,475 shares during the period. First Bank & Trust raised its stake in United Bankshares by 25.7% during the 2nd quarter. First Bank & Trust now owns 3,742 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 765 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in United Bankshares by 12.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 314,908 shares of the financial services provider’s stock valued at $11,044,000 after purchasing an additional 35,126 shares during the period. 68.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director J Paul Mcnamara sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $42.75, for a total transaction of $106,875.00. Following the transaction, the director now owns 62,699 shares of the company’s stock, valued at approximately $2,680,382.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.22% of the company’s stock.

United Bankshares Stock Performance

NASDAQ:UBSI opened at $40.62 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.91 and a quick ratio of 0.90. United Bankshares, Inc. has a 1 year low of $33.11 and a 1 year high of $44.15. The stock’s 50 day simple moving average is $41.10 and its two-hundred day simple moving average is $39.03. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 15.44 and a beta of 1.07.

United Bankshares (NASDAQ:UBSIGet Rating) last released its earnings results on Thursday, October 27th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.09. The firm had revenue of $273.37 million for the quarter, compared to the consensus estimate of $267.31 million. United Bankshares had a return on equity of 7.76% and a net margin of 33.19%. During the same quarter in the previous year, the company posted $0.71 EPS. As a group, equities analysts anticipate that United Bankshares, Inc. will post 2.88 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend was Thursday, December 8th. United Bankshares’s dividend payout ratio is currently 54.75%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on UBSI shares. Piper Sandler reissued a “neutral” rating and set a $45.00 target price on shares of United Bankshares in a research note on Monday, December 5th. StockNews.com downgraded United Bankshares from a “hold” rating to a “sell” rating in a research note on Wednesday, January 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, United Bankshares currently has an average rating of “Hold” and an average target price of $41.33.

About United Bankshares

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United Bankshares, Inc, a financial holding company, 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, NOW accounts, and interest-bearing checking accounts.

Further Reading

Institutional Ownership by Quarter for United Bankshares (NASDAQ:UBSI)

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