Millstone Evans Group LLC Makes New Investment in United Bankshares, Inc. (NASDAQ:UBSI)

Millstone Evans Group LLC purchased a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 19,702 shares of the financial services provider's stock, valued at approximately $740,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new stake in shares of United Bankshares during the fourth quarter valued at about $26,000. Jones Financial Companies Lllp boosted its holdings in United Bankshares by 55.8% in the fourth quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 310 shares during the last quarter. Wilmington Savings Fund Society FSB grew its stake in United Bankshares by 1,921.1% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 1,364 shares in the last quarter. Principal Securities Inc. grew its stake in United Bankshares by 10.1% during the 4th quarter. Principal Securities Inc. now owns 3,115 shares of the financial services provider's stock valued at $117,000 after purchasing an additional 285 shares in the last quarter. Finally, Hopwood Financial Services Inc. purchased a new stake in United Bankshares during the 4th quarter worth approximately $117,000. Hedge funds and other institutional investors own 70.80% of the company's stock.

Insider Transactions at United Bankshares

In related news, Director Sara Dumond acquired 2,600 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the purchase, the director now directly owns 5,054 shares in the company, valued at $176,940.54. This represents a 105.95 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.66% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on UBSI shares. StockNews.com downgraded shares of United Bankshares from a "hold" rating to a "sell" rating in a research report on Monday, January 27th. Stephens reissued an "equal weight" rating and set a $43.00 price objective on shares of United Bankshares in a report on Monday, January 27th. Piper Sandler restated a "neutral" rating and issued a $38.50 target price on shares of United Bankshares in a research note on Wednesday, March 12th. Finally, Keefe, Bruyette & Woods reduced 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 research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. According to MarketBeat.com, United Bankshares has a consensus rating of "Hold" and an average price target of $41.88.

United Bankshares Stock Performance

United Bankshares stock traded down $0.05 during mid-day trading on Wednesday, reaching $35.04. The company's stock had a trading volume of 503,449 shares, compared to its average volume of 532,025. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. United Bankshares, Inc. has a twelve month low of $30.68 and a twelve month high of $44.43. The business has a 50 day moving average price of $36.81 and a 200-day moving average price of $38.06. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of 12.79 and a beta of 0.98.

United Bankshares (NASDAQ:UBSI - Get Free Report) last posted its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 EPS for the quarter, beating 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 period last year, the firm posted $0.59 earnings per share. Sell-side analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date is Friday, March 14th. United Bankshares's payout ratio is 54.01%.

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.