United Bankshares, Inc. (NASDAQ:UBSI) Shares Bought by Farther Finance Advisors LLC

Farther Finance Advisors LLC boosted its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 726.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 967 shares of the financial services provider’s stock after acquiring an additional 850 shares during the quarter. Farther Finance Advisors LLC’s holdings in United Bankshares were worth $33,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. City Holding Co. lifted its holdings in shares of United Bankshares by 9.0% in the 1st quarter. City Holding Co. now owns 10,090 shares of the financial services provider’s stock valued at $350,000 after buying an additional 832 shares during the period. Capital Investment Advisors LLC acquired a new position in shares of United Bankshares in the 1st quarter valued at about $604,000. UMB Bank n.a. lifted its holdings in shares of United Bankshares by 207.7% in the 1st quarter. UMB Bank n.a. now owns 2,597 shares of the financial services provider’s stock valued at $90,000 after buying an additional 1,753 shares during the period. Regent Peak Wealth Advisors LLC acquired a new position in shares of United Bankshares in the 1st quarter valued at about $1,757,000. Finally, Rhumbline Advisers lifted its holdings in shares of United Bankshares by 0.8% in the 1st quarter. Rhumbline Advisers now owns 458,823 shares of the financial services provider’s stock valued at $15,907,000 after buying an additional 3,666 shares during the period. Institutional investors and hedge funds own 70.80% of the company’s stock.

United Bankshares Price Performance

Shares of United Bankshares stock opened at $36.44 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10. United Bankshares, Inc. has a twelve month low of $30.51 and a twelve month high of $44.43. The business has a 50-day moving average price of $35.55 and a 200 day moving average price of $36.22. The firm has a market cap of $5.18 billion, a PE ratio of 13.55 and a beta of 0.76.

United Bankshares (NASDAQ:UBSI) last announced 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). United Bankshares had a net margin of 22.35% and a return on equity of 7.36%. The business had revenue of $289.61 million during the quarter, compared to analysts’ expectations of $279.02 million. During the same quarter in the prior year, the firm earned $0.64 EPS. United Bankshares’s revenue for the quarter was up 13.7% on a year-over-year basis. Sell-side analysts predict 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. Investors of record on Friday, June 13th will be paid a $0.37 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.48 annualized dividend and a dividend yield of 4.06%. United Bankshares’s dividend payout ratio is presently 55.02%.

Analyst Upgrades and Downgrades

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

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.