Riverbend Wealth Management LLC Purchases New Shares in United Bankshares, Inc. (NASDAQ:UBSI)

Riverbend Wealth Management LLC bought a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,154 shares of the financial services provider's stock, valued at approximately $306,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of UBSI. Jane Street Group LLC lifted its holdings in United Bankshares by 27.2% during the third quarter. Jane Street Group LLC now owns 161,489 shares of the financial services provider's stock worth $5,991,000 after acquiring an additional 34,526 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in United Bankshares by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,673,056 shares of the financial services provider's stock valued at $62,070,000 after acquiring an additional 83,503 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of United Bankshares by 73.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 50,953 shares of the financial services provider's stock worth $1,890,000 after purchasing an additional 21,520 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of United Bankshares by 3.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 12,328 shares of the financial services provider's stock worth $457,000 after purchasing an additional 427 shares during the period. Finally, JPMorgan Chase & Co. increased its position in United Bankshares by 9.8% in the third quarter. JPMorgan Chase & Co. now owns 594,819 shares of the financial services provider's stock worth $22,068,000 after buying an additional 52,949 shares during the last quarter. Hedge funds and other institutional investors own 70.80% of the company's stock.

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United Bankshares Trading Up 1.0 %

NASDAQ:UBSI traded up $0.35 during trading hours on Wednesday, reaching $34.39. The company's stock had a trading volume of 327,531 shares, compared to its average volume of 521,256. The firm has a 50-day simple moving average of $37.26 and a 200-day simple moving average of $38.30. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. United Bankshares, Inc. has a 1 year low of $30.68 and a 1 year high of $44.43. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of 12.56 and a beta of 0.98.

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

United Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 4.30%. United Bankshares's dividend payout ratio (DPR) is currently 54.01%.

Insiders Place Their Bets

In other United Bankshares news, Director Mark R. Nesselroad sold 6,000 shares of United Bankshares stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $39.16, for a total value of $234,960.00. Following the transaction, the director now directly owns 35,424 shares of the company's stock, valued at $1,387,203.84. The trade was a 14.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.66% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Piper Sandler reaffirmed a "neutral" rating and set a $38.50 price target on shares of United Bankshares in a research report on Wednesday. Stephens reiterated an "equal weight" rating and issued a $43.00 target price on shares of United Bankshares in a research note on Monday, January 27th. Keefe, Bruyette & Woods decreased their price target on shares of United Bankshares from $46.00 to $45.00 and set a "market perform" rating on the stock in a report on Monday, January 27th. Finally, StockNews.com downgraded United Bankshares from a "hold" rating to a "sell" rating in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $41.88.

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.