Focus Partners Wealth Has $1.07 Million Position in United Bankshares, Inc. (NASDAQ:UBSI)

Focus Partners Wealth reduced its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 43.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,239 shares of the financial services provider’s stock after selling 19,756 shares during the period. Focus Partners Wealth’s holdings in United Bankshares were worth $1,065,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Deutsche Bank AG lifted its holdings in United Bankshares by 48.9% during the 4th quarter. Deutsche Bank AG now owns 113,800 shares of the financial services provider’s stock valued at $4,273,000 after purchasing an additional 37,372 shares during the last quarter. Cetera Investment Advisers lifted its holdings in United Bankshares by 9.6% during the 4th quarter. Cetera Investment Advisers now owns 11,433 shares of the financial services provider’s stock valued at $429,000 after purchasing an additional 1,003 shares during the last quarter. Bridgefront Capital LLC bought a new position in United Bankshares during the 4th quarter valued at about $278,000. Captrust Financial Advisors lifted its holdings in United Bankshares by 0.7% during the 4th quarter. Captrust Financial Advisors now owns 73,655 shares of the financial services provider’s stock valued at $2,766,000 after purchasing an additional 510 shares during the last quarter. Finally, Cary Street Partners Financial LLC bought a new position in shares of United Bankshares in the fourth quarter worth about $207,000. 70.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UBSI has been the subject of a number of research analyst reports. Stephens reaffirmed an “equal weight” rating and issued a $43.00 target price on shares of United Bankshares in a research note on Monday, January 27th. Piper Sandler reaffirmed a “neutral” rating and issued a $38.50 target price on shares of United Bankshares in a research note on Wednesday, March 12th. Keefe, Bruyette & Woods dropped their target price on shares of United Bankshares from $42.00 to $40.00 and set a “market perform” rating for the company in a research note on Monday, April 28th. Finally, StockNews.com raised shares of United Bankshares from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $40.63.

United Bankshares Stock Down 0.3%

Shares of NASDAQ:UBSI opened at $37.22 on Friday. United Bankshares, Inc. has a one year low of $30.51 and a one year high of $44.43. The company has a 50 day moving average of $34.29 and a 200-day moving average of $37.25. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 13.58 and a beta of 0.74.

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

United Bankshares Dividend Announcement

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 given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Friday, June 13th. United Bankshares’s dividend payout ratio is 55.02%.

Insider Transactions at United Bankshares

In other United Bankshares news, Director Sara Dumond purchased 2,600 shares of the stock in a transaction dated Monday, March 24th. The stock was bought at an average price of $35.01 per share, for a total transaction of $91,026.00. Following the transaction, 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 available at the SEC website. 3.46% of the stock is owned by corporate insiders.

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.