Heritage Wealth Advisors Cuts Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Heritage Wealth Advisors decreased its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 15.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,544 shares of the financial services provider’s stock after selling 3,380 shares during the period. Heritage Wealth Advisors’ holdings in United Bankshares were worth $696,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in UBSI. SBI Securities Co. Ltd. purchased a new position in United Bankshares in the fourth quarter worth $26,000. Jones Financial Companies Lllp boosted its holdings in shares of United Bankshares by 55.8% in the 4th quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB increased its position in shares of United Bankshares by 1,921.1% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 1,364 shares during the last quarter. Principal Securities Inc. raised its holdings in shares of United Bankshares by 10.1% during the 4th quarter. Principal Securities Inc. now owns 3,115 shares of the financial services provider’s stock valued at $117,000 after buying an additional 285 shares in the last quarter. Finally, Hopwood Financial Services Inc. bought a new stake in United Bankshares in the 4th quarter worth approximately $117,000. Hedge funds and other institutional investors own 70.80% of the company’s stock.

United Bankshares Stock Down 0.6 %

NASDAQ UBSI opened at $35.09 on Wednesday. The business’s 50-day moving average is $36.81 and its 200 day moving average is $38.06. The stock has a market capitalization of $5.03 billion, a PE ratio of 12.81 and a beta of 0.98. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. United Bankshares, Inc. has a 1 year low of $30.68 and a 1 year high of $44.43.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Friday, January 24th. The financial services provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. During the same quarter in the prior year, the firm earned $0.59 earnings per share. Sell-side analysts forecast that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date is Friday, March 14th. United Bankshares’s payout ratio is 54.01%.

Insider Activity at United Bankshares

In other news, Director Sara Dumond acquired 2,600 shares of the business’s stock in a transaction on Monday, March 24th. The shares were acquired at an average cost of $35.01 per share, with a total value of $91,026.00. Following the transaction, the director now owns 5,054 shares in the company, valued at $176,940.54. The trade was a 105.95 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 3.66% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on UBSI. Stephens reissued an “equal weight” rating and set a $43.00 price target on shares of United Bankshares in a research note on Monday, January 27th. Keefe, Bruyette & Woods decreased their target price on shares of United Bankshares from $46.00 to $45.00 and set a “market perform” rating on the stock in a research report on Monday, January 27th. Piper Sandler restated a “neutral” rating and set a $38.50 price target on shares of United Bankshares in a research report on Wednesday, March 12th. Finally, StockNews.com downgraded United Bankshares from a “hold” rating to a “sell” rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $41.88.

United Bankshares 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.