Regent Peak Wealth Advisors LLC Purchases Shares of 50,682 United Bankshares, Inc. (NASDAQ:UBSI)

Regent Peak Wealth Advisors LLC purchased a new stake in United Bankshares, Inc. (NASDAQ:UBSI) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 50,682 shares of the financial services provider’s stock, valued at approximately $1,757,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of United Bankshares by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,310,562 shares of the financial services provider’s stock valued at $537,362,000 after acquiring an additional 115,681 shares during the last quarter. Earnest Partners LLC increased its position in shares of United Bankshares by 0.7% in the fourth quarter. Earnest Partners LLC now owns 4,199,136 shares of the financial services provider’s stock valued at $157,678,000 after acquiring an additional 29,898 shares during the last quarter. Northern Trust Corp increased its position in shares of United Bankshares by 13.7% in the fourth quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider’s stock valued at $66,614,000 after acquiring an additional 213,441 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of United Bankshares by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,710,588 shares of the financial services provider’s stock valued at $64,233,000 after acquiring an additional 37,532 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its position in shares of United Bankshares by 3.5% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,612,170 shares of the financial services provider’s stock valued at $60,538,000 after acquiring an additional 54,089 shares during the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

Insider Activity

In other news, Director Sara Dumond bought 2,600 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were bought at an average price of $35.01 per share, with a total value of $91,026.00. Following the completion of the transaction, the director now owns 5,054 shares of the company’s stock, valued at $176,940.54. This trade represents a 105.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.46% of the stock is owned by company insiders.

United Bankshares Stock Performance

Shares of NASDAQ UBSI opened at $36.36 on Friday. 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, Inc. has a 12 month low of $30.51 and a 12 month high of $44.43. The stock has a 50 day moving average of $34.77 and a 200-day moving average of $36.77. The company has a market capitalization of $5.17 billion, a P/E ratio of 13.27 and a beta of 0.76.

United Bankshares (NASDAQ:UBSI) last issued its 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 the consensus estimate of $279.02 million. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The business’s revenue was up 13.7% compared to the same quarter last year. As a group, equities research analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Friday, June 13th. United Bankshares’s payout ratio is 55.02%.

Analyst Ratings Changes

A number of analysts recently issued reports on UBSI shares. Wall Street Zen downgraded United Bankshares from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods lowered their target price on United Bankshares from $42.00 to $40.00 and set a “market perform” rating on the stock in a research report on Monday, April 28th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $38.50 target price on shares of United Bankshares in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, United Bankshares currently has an average rating of “Hold” and a consensus price target of $40.63.

United Bankshares Company 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.