Insider Selling: United Bankshares (NASDAQ:UBSI) Director Sells 3,200 Shares of Stock

United Bankshares, Inc. (NASDAQ:UBSI) Director Mark Nesselroad sold 3,200 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $46.42, for a total transaction of $148,544.00. Following the completion of the transaction, the director owned 32,224 shares in the company, valued at $1,495,838.08. The trade was a 9.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

United Bankshares Stock Performance

United Bankshares stock traded up $0.92 on Wednesday, reaching $47.42. 343,230 shares of the stock were exchanged, compared to its average volume of 932,956. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. United Bankshares, Inc. has a twelve month low of $34.10 and a twelve month high of $49.62. The firm has a fifty day moving average price of $47.47 and a two-hundred day moving average price of $44.41. The stock has a market cap of $6.46 billion, a PE ratio of 12.92 and a beta of 0.70.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.06. United Bankshares had a return on equity of 9.39% and a net margin of 27.97%.The company had revenue of $323.82 million for the quarter, compared to the consensus estimate of $320.07 million. During the same period last year, the business posted $0.85 earnings per share. Sell-side analysts anticipate that United Bankshares, Inc. will post 3.71 EPS for the current year.

United Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, September 11th. United Bankshares’s payout ratio is currently 41.42%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on UBSI shares. Wall Street Zen raised United Bankshares from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of United Bankshares in a research note on Monday, July 6th. Keefe, Bruyette & Woods increased their price target on shares of United Bankshares from $46.00 to $48.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Raymond James Financial boosted their price objective on shares of United Bankshares from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Finally, Hovde Group upped their price objective on shares of United Bankshares from $49.00 to $50.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $47.80.

Institutional Trading of United Bankshares

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE lifted its position in United Bankshares by 20.5% in the first quarter. Bank of America Corp DE now owns 1,631,894 shares of the financial services provider’s stock worth $67,593,000 after purchasing an additional 277,836 shares during the period. EP Wealth Advisors LLC bought a new stake in United Bankshares in the 2nd quarter valued at $3,979,000. Deutsche Bank AG acquired a new position in shares of United Bankshares in the 2nd quarter valued at $6,697,000. NFJ Investment Group LLC acquired a new position in shares of United Bankshares in the 2nd quarter valued at $2,930,000. Finally, Amundi lifted its holdings in shares of United Bankshares by 204.8% during the 1st quarter. Amundi now owns 49,874 shares of the financial services provider’s stock worth $2,066,000 after acquiring an additional 33,511 shares during the period. 70.80% of the stock is currently owned by institutional investors.

United Bankshares Company Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.