Wealth Enhancement Advisory Services LLC Has $825,000 Stock Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Wealth Enhancement Advisory Services LLC lifted its position in United Bankshares, Inc. (NASDAQ:UBSI) by 89.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,958 shares of the financial services provider’s stock after acquiring an additional 10,377 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in United Bankshares were worth $825,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Principal Securities Inc. raised its position in shares of United Bankshares by 10.1% in the 4th quarter. Principal Securities Inc. now owns 3,115 shares of the financial services provider’s stock valued at $117,000 after acquiring an additional 285 shares during the period. Arizona State Retirement System raised its position in shares of United Bankshares by 0.8% in the 4th quarter. Arizona State Retirement System now owns 39,225 shares of the financial services provider’s stock valued at $1,473,000 after acquiring an additional 296 shares during the period. Jones Financial Companies Lllp raised its position in shares of 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 acquiring an additional 310 shares during the period. Tower Research Capital LLC TRC raised its position in shares of United Bankshares by 2.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 12,432 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 327 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its stake in United Bankshares by 37.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 400 shares in the last quarter. 70.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UBSI has been the topic of several research analyst reports. Keefe, Bruyette & Woods dropped their target price on shares of United Bankshares from $42.00 to $40.00 and set a “market perform” rating on the stock in a report on Monday, April 28th. Piper Sandler restated a “neutral” rating and set a $38.50 target price on shares of United Bankshares in a report on Wednesday, March 12th. Finally, Wall Street Zen downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $40.63.

Insider Transactions at United Bankshares

In other United Bankshares news, Director Sara Dumond purchased 2,600 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was bought at an average cost of $35.01 per share, with a total value of $91,026.00. Following the purchase, the director now directly owns 5,054 shares of the company’s stock, valued at $176,940.54. The trade was a 105.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 3.46% of the company’s stock.

United Bankshares Stock Performance

Shares of UBSI stock opened at $36.56 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $5.19 billion, a P/E ratio of 13.34 and a beta of 0.76. The company’s 50 day moving average price is $34.80 and its two-hundred day moving average price is $36.69. United Bankshares, Inc. has a 52 week low of $30.51 and a 52 week high of $44.43.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.07). The business had revenue of $289.61 million for the quarter, compared to the consensus estimate of $279.02 million. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. United Bankshares’s revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 earnings per share. On average, analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.48 annualized dividend and a dividend yield of 4.05%. United Bankshares’s dividend payout ratio is currently 55.02%.

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.