Advisory Services Network LLC Buys 9,971 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Advisory Services Network LLC increased its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 52.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,101 shares of the financial services provider's stock after buying an additional 9,971 shares during the period. Advisory Services Network LLC's holdings in United Bankshares were worth $1,093,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. HighTower Advisors LLC lifted its stake in shares of United Bankshares by 1.7% during the third quarter. HighTower Advisors LLC now owns 19,542 shares of the financial services provider's stock valued at $730,000 after acquiring an additional 332 shares during the period. Stifel Financial Corp boosted its stake in shares of United Bankshares by 11.1% in the 3rd quarter. Stifel Financial Corp now owns 43,822 shares of the financial services provider's stock valued at $1,626,000 after purchasing an additional 4,381 shares during the last quarter. Jane Street Group LLC grew its position in shares of United Bankshares by 27.2% during the 3rd quarter. Jane Street Group LLC now owns 161,489 shares of the financial services provider's stock worth $5,991,000 after buying an additional 34,526 shares during the period. Barclays PLC raised its stake in shares of United Bankshares by 89.5% during the third quarter. Barclays PLC now owns 269,852 shares of the financial services provider's stock worth $10,012,000 after buying an additional 127,486 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in United Bankshares by 1.7% in the third quarter. Geode Capital Management LLC now owns 3,306,542 shares of the financial services provider's stock valued at $122,695,000 after buying an additional 53,994 shares during the period. Institutional investors own 70.80% of the company's stock.

United Bankshares Stock Performance

UBSI stock traded up $0.07 during trading hours on Friday, hitting $33.51. 2,560,841 shares of the stock were exchanged, compared to its average volume of 605,879. The company has a 50-day simple moving average of $34.67 and a two-hundred day simple moving average of $37.50. The firm has a market capitalization of $4.81 billion, a P/E ratio of 12.23 and a beta of 0.91. United Bankshares, Inc. has a 12 month low of $30.51 and a 12 month high of $44.43. 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 (NASDAQ:UBSI - Get Free Report) last released its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates 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 in the prior year, the business earned $0.59 earnings per share. On average, analysts forecast that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date was Friday, March 14th. United Bankshares's payout ratio is currently 54.01%.

Insider Buying and Selling

In other United Bankshares news, Director Sara Dumond bought 2,600 shares of United Bankshares stock in a transaction 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 acquisition, the director now owns 5,054 shares in the company, valued at $176,940.54. This trade represents a 105.95 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.66% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on UBSI. Piper Sandler reaffirmed a "neutral" rating and set a $38.50 price objective on shares of United Bankshares in a research note on Wednesday, March 12th. StockNews.com lowered shares of United Bankshares from a "hold" rating to a "sell" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods reduced their target price on shares of United Bankshares from $46.00 to $45.00 and set a "market perform" rating for the company in a report on Monday, January 27th. Finally, Stephens restated an "equal weight" rating and issued a $43.00 price target on shares of United Bankshares in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target 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.