Mark R. Nesselroad Sells 6,000 Shares of United Bankshares, Inc. (NASDAQ:UBSI) Stock

United Bankshares, Inc. (NASDAQ:UBSI) Director Mark R. Nesselroad sold 6,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $39.16, for a total transaction of $234,960.00. Following the completion of the transaction, the director now owns 35,424 shares in the company, valued at $1,387,203.84. This represents a 14.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

United Bankshares Trading Up 1.4 %

NASDAQ:UBSI opened at $38.00 on Friday. The company has a market capitalization of $5.14 billion, a PE ratio of 14.39 and a beta of 1.01. United Bankshares, Inc. has a 52-week low of $30.68 and a 52-week high of $44.43. The stock’s 50 day moving average price is $40.17 and its 200 day moving average price is $37.06. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.11.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. United Bankshares had a net margin of 22.05% and a return on equity of 7.58%. The business had revenue of $414.67 million for the quarter, compared to analyst estimates of $260.30 million. During the same period last year, the firm posted $0.71 earnings per share. On average, research analysts anticipate that United Bankshares, Inc. will post 2.73 EPS for the current year.

United Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.89%. United Bankshares’s payout ratio is 56.06%.

Institutional Investors Weigh In On United Bankshares

Hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its position in United Bankshares by 7.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,081 shares of the financial services provider’s stock worth $392,000 after acquiring an additional 858 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in United Bankshares by 5.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,587 shares of the financial services provider’s stock valued at $214,000 after buying an additional 350 shares during the last quarter. Nisa Investment Advisors LLC grew its position in United Bankshares by 96.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 12,848 shares of the financial services provider’s stock valued at $422,000 after buying an additional 6,323 shares during the last quarter. Innealta Capital LLC acquired a new position in United Bankshares in the 2nd quarter valued at $116,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in United Bankshares by 10.2% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 426,162 shares of the financial services provider’s stock worth $13,825,000 after buying an additional 39,305 shares during the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $40.25.

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.