61,534 Shares in United Bankshares, Inc. $UBSI Acquired by Jupiter Topco LLC

Jupiter Topco LLC bought a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 61,534 shares of the financial services provider’s stock, valued at approximately $2,820,000.

A number of other hedge funds have also bought and sold shares of the stock. Inspire Investing LLC lifted its stake in shares of United Bankshares by 2.0% during the first quarter. Inspire Investing LLC now owns 12,389 shares of the financial services provider’s stock worth $513,000 after buying an additional 245 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of United Bankshares by 24.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,492 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 292 shares during the period. Root Financial Partners LLC increased its position in shares of United Bankshares by 64.4% in the 1st quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 308 shares during the period. Rothschild Investment LLC raised its stake in United Bankshares by 47.5% in the 4th quarter. Rothschild Investment LLC now owns 1,236 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 398 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in United Bankshares by 8.1% in the 1st quarter. Empowered Funds LLC now owns 5,336 shares of the financial services provider’s stock worth $221,000 after acquiring an additional 402 shares during the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

Insider Buying and Selling at United Bankshares

In related news, Director Mark R. Nesselroad sold 3,200 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $46.42, for a total value of $148,544.00. Following the completion of the transaction, the director directly owned 32,224 shares in the company, valued at $1,495,838.08. The trade was a 9.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.16% of the stock is currently owned by company insiders.

United Bankshares Price Performance

Shares of UBSI opened at $47.30 on Thursday. The business’s 50-day moving average is $47.50 and its two-hundred day moving average is $44.43. The company has a market capitalization of $6.44 billion, a P/E ratio of 12.89 and a beta of 0.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.98. United Bankshares, Inc. has a fifty-two week low of $34.10 and a fifty-two week high of $49.62.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. The business had revenue of $323.82 million during the quarter, compared to analyst estimates of $320.07 million. United Bankshares had a return on equity of 9.39% and a net margin of 27.97%.During the same quarter last year, the business posted $0.85 EPS. Research analysts predict that United Bankshares, Inc. will post 3.71 earnings per share for the current year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.2%. United Bankshares’s dividend payout ratio (DPR) is presently 41.42%.

Wall Street Analyst Weigh In

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

About United Bankshares

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.