Wealthcare Advisory Partners LLC Sells 9,932 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Wealthcare Advisory Partners LLC trimmed its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 17.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,352 shares of the financial services provider’s stock after selling 9,932 shares during the period. Wealthcare Advisory Partners LLC’s holdings in United Bankshares were worth $1,642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in UBSI. Vanguard Group Inc. raised its holdings in United Bankshares by 0.8% in the 4th 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 period. Earnest Partners LLC grew 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 purchasing an additional 29,898 shares during the last quarter. Northern Trust Corp grew 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 purchasing an additional 213,441 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of United Bankshares by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,710,588 shares of the financial services provider’s stock worth $64,233,000 after purchasing an additional 37,532 shares during the period. Finally, Norges Bank acquired a new stake in United Bankshares during the 4th quarter worth approximately $54,712,000. 70.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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, with a total value of $91,026.00. Following the acquisition, the director now owns 5,054 shares of the company’s stock, valued at approximately $176,940.54. This represents a 105.95% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.46% of the stock is currently owned by company insiders.

United Bankshares Stock Performance

NASDAQ:UBSI opened at $36.48 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. United Bankshares, Inc. has a fifty-two week low of $30.51 and a fifty-two week high of $44.43. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 13.31 and a beta of 0.76. The stock has a fifty day moving average price of $34.99 and a 200-day moving average price of $36.69.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.07). The firm had revenue of $289.61 million for the quarter, compared to the consensus estimate of $279.02 million. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. As a group, equities analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend is Friday, June 13th. United Bankshares’s dividend payout ratio (DPR) is presently 55.02%.

Analyst Ratings Changes

A number of brokerages have commented on UBSI. Piper Sandler reaffirmed a “neutral” rating and issued a $38.50 price objective on shares of United Bankshares in a report on Wednesday, March 12th. Wall Street Zen downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods lowered their price target on shares of 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. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $40.63.

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.