United Bankshares, Inc. (NASDAQ:UBSI) Shares Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC raised its holdings in United Bankshares, Inc. (NASDAQ:UBSI – Get Rating) by 5.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,547 shares of the financial services provider’s stock after buying an additional 2,034 shares during the period. Kingsview Wealth Management LLC’s holdings in United Bankshares were worth $1,307,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in United Bankshares by 12.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 314,908 shares of the financial services provider’s stock valued at $11,044,000 after buying an additional 35,126 shares during the period. Ontario Teachers Pension Plan Board purchased a new position in United Bankshares in the 2nd quarter valued at approximately $390,000. Tower Research Capital LLC TRC boosted its position in United Bankshares by 80.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 17,981 shares of the financial services provider’s stock valued at $643,000 after buying an additional 8,016 shares during the period. Eaton Vance Management lifted its position in shares of United Bankshares by 2.3% during the 3rd quarter. Eaton Vance Management now owns 227,344 shares of the financial services provider’s stock worth $8,128,000 after purchasing an additional 5,204 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of United Bankshares by 2.1% during the 2nd quarter. NewEdge Advisors LLC now owns 19,631 shares of the financial services provider’s stock worth $688,000 after purchasing an additional 412 shares during the last quarter. Hedge funds and other institutional investors own 68.73% of the company’s stock.

United Bankshares Price Performance

Shares of UBSI opened at $36.38 on Wednesday. United Bankshares, Inc. has a 1-year low of $33.11 and a 1-year high of $44.15. The stock has a market cap of $4.90 billion, a PE ratio of 12.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.96 and a quick ratio of 0.95. The firm has a fifty day moving average price of $40.20 and a 200 day moving average price of $39.73.

United Bankshares (NASDAQ:UBSI – Get Rating) last posted its quarterly earnings data on Thursday, January 26th. The financial services provider reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.04). The business had revenue of $338.62 million during the quarter, compared to analyst estimates of $275.77 million. United Bankshares had a net margin of 32.86% and a return on equity of 8.42%. During the same quarter in the prior year, the firm posted $0.56 earnings per share. As a group, sell-side analysts anticipate that United Bankshares, Inc. will post 2.95 EPS for the current year.

United Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 10th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $1.44 dividend on an annualized basis and a yield of 3.96%. United Bankshares’s dividend payout ratio is presently 51.25%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $45.00 price objective on shares of United Bankshares in a research report on Monday, December 5th. StockNews.com cut shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Wednesday, January 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.33.

About United Bankshares

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United Bankshares, Inc is a bank holding company, which engages in the provision of commercial and retail banking services and products. It operates through the following segments: Community Banking, Mortgage Banking, and Other. The Community Banking segment consists of both commercial and consumer lending and provides customers with such products as commercial loans, real estate loans, business financing, and consumer loans.