Heritage Wealth Advisors Sells 3,380 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Heritage Wealth Advisors lowered its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 15.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in shares of United Bankshares in the fourth quarter valued at approximately $26,000. Jones Financial Companies Lllp lifted its holdings in United Bankshares by 55.8% during the 4th quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 310 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its position in United Bankshares by 1,921.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 1,364 shares during the period. Principal Securities Inc. increased its holdings in shares of United Bankshares by 10.1% in the fourth quarter. Principal Securities Inc. now owns 3,115 shares of the financial services provider’s stock valued at $117,000 after purchasing an additional 285 shares during the last quarter. Finally, Hopwood Financial Services Inc. bought a new position in shares of United Bankshares in the fourth quarter valued at about $117,000. 70.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on UBSI. Keefe, Bruyette & Woods dropped their price target on United Bankshares from $46.00 to $45.00 and set a “market perform” rating for the company in a report on Monday, January 27th. Piper Sandler reiterated a “neutral” rating and issued a $38.50 price objective on shares of United Bankshares in a research note on Wednesday, March 12th. StockNews.com lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Monday, January 27th. Finally, Stephens reiterated an “equal weight” rating and issued a $43.00 price target on shares of United Bankshares in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $41.88.

United Bankshares Price Performance

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

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share (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 company posted $0.59 earnings per share. Sell-side analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Announces Dividend

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

Insider Activity

In other United Bankshares news, Director Sara Dumond acquired 2,600 shares of United Bankshares stock in a transaction that occurred on Monday, March 24th. The stock was acquired at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.66% of the company’s stock.

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.