Wealth Enhancement Advisory Services LLC Trims Stock Position in United Bankshares, Inc. (NASDAQ:UBSI)

Wealth Enhancement Advisory Services LLC lowered its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 4.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,581 shares of the financial services provider’s stock after selling 500 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in United Bankshares were worth $430,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in UBSI. BNP Paribas Financial Markets grew its stake in United Bankshares by 77.8% in the 1st quarter. BNP Paribas Financial Markets now owns 69,932 shares of the financial services provider’s stock worth $2,503,000 after acquiring an additional 30,590 shares during the period. Daiwa Securities Group Inc. acquired a new position in United Bankshares in the first quarter valued at $334,000. Texas Permanent School Fund Corp increased its stake in United Bankshares by 1.1% in the first quarter. Texas Permanent School Fund Corp now owns 117,813 shares of the financial services provider’s stock valued at $4,217,000 after purchasing an additional 1,250 shares during the last quarter. SG Americas Securities LLC lifted its position in United Bankshares by 131.9% during the first quarter. SG Americas Securities LLC now owns 9,326 shares of the financial services provider’s stock worth $334,000 after buying an additional 5,305 shares during the period. Finally, Anchor Capital Advisors LLC boosted its stake in United Bankshares by 1.3% in the 1st quarter. Anchor Capital Advisors LLC now owns 51,205 shares of the financial services provider’s stock worth $1,833,000 after buying an additional 645 shares during the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

Insider Buying and Selling

In other United Bankshares news, Director Peter A. Converse sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $40.00, for a total value of $200,000.00. Following the completion of the transaction, the director now directly owns 434,769 shares of the company’s stock, valued at $17,390,760. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.66% of the stock is currently owned by insiders.

United Bankshares Price Performance

Shares of NASDAQ UBSI opened at $41.64 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.97. United Bankshares, Inc. has a 1-year low of $29.19 and a 1-year high of $42.95. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 15.77 and a beta of 0.98. The business has a 50-day moving average of $37.45 and a 200-day moving average of $35.44.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. The firm had revenue of $414.67 million during the quarter, compared to analysts’ expectations of $260.30 million. United Bankshares had a return on equity of 7.58% and a net margin of 22.05%. During the same quarter in the prior year, the business earned $0.71 EPS. On average, equities analysts anticipate that United Bankshares, Inc. will post 2.73 EPS for the current fiscal year.

United Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend was Friday, September 13th. United Bankshares’s payout ratio is 56.06%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on UBSI. DA Davidson lifted their price target on shares of United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Stephens lifted their target price on United Bankshares from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. StockNews.com downgraded United Bankshares from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Finally, Keefe, Bruyette & Woods raised their price objective on United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.25.

About United Bankshares

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.