Envestnet Asset Management Inc. Grows Stock Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Envestnet Asset Management Inc. lifted its position in United Bankshares, Inc. (NASDAQ:UBSI) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 260,952 shares of the financial services provider’s stock after buying an additional 6,746 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.19% of United Bankshares worth $9,799,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of UBSI. SBI Securities Co. Ltd. acquired a new stake in shares of United Bankshares during the fourth quarter worth about $26,000. Jones Financial Companies Lllp boosted its position in United Bankshares by 55.8% in the 4th quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider’s stock valued at $33,000 after buying an additional 310 shares during the period. Wilmington Savings Fund Society FSB grew its stake in shares of United Bankshares by 1,921.1% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 1,364 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of United Bankshares by 37.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 400 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of United Bankshares in the fourth quarter valued at $85,000. Institutional investors and hedge funds own 70.80% of the company’s stock.

Insider Transactions at United Bankshares

In related news, Director Sara Dumond purchased 2,600 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were purchased at an average price 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 in the company, valued at $176,940.54. This represents a 105.95 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.66% of the company’s stock.

United Bankshares Stock Performance

Shares of United Bankshares stock opened at $33.51 on Friday. The firm has a market capitalization of $4.81 billion, a P/E ratio of 12.23 and a beta of 0.91. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. United Bankshares, Inc. has a 52 week low of $30.51 and a 52 week high of $44.43. The firm’s 50 day moving average is $34.67 and its two-hundred day moving average is $37.50.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. During the same quarter last year, the company posted $0.59 EPS. Research analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.42%. The ex-dividend date was Friday, March 14th. United Bankshares’s payout ratio is currently 54.01%.

Wall Street Analysts Forecast Growth

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

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.