Piper Sandler Reiterates “Neutral” Rating for United Bankshares (NASDAQ:UBSI)

Piper Sandler reissued their neutral rating on shares of United Bankshares (NASDAQ:UBSI) in a research report released on Wednesday, MarketBeat.com reports. The firm currently has a $38.50 price objective on the financial services provider’s stock.

Several other equities analysts have also weighed in on UBSI. Stephens restated an “equal weight” rating and issued a $43.00 price objective on shares of United Bankshares in a report on Monday, January 27th. Keefe, Bruyette & Woods cut 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 report on Monday, January 27th. Finally, StockNews.com lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.88.

United Bankshares Trading Up 1.6 %

Shares of NASDAQ UBSI opened at $34.56 on Wednesday. The company’s 50 day simple moving average is $37.13 and its 200 day simple moving average is $38.24. United Bankshares has a fifty-two week low of $30.68 and a fifty-two week high of $44.43. The firm has a market capitalization of $4.95 billion, a P/E ratio of 12.61 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 (NASDAQ:UBSI) last announced its quarterly earnings data on Friday, January 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. During the same period last year, the company earned $0.59 EPS. On average, analysts predict that United Bankshares 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, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.37 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 4.28%. United Bankshares’s dividend payout ratio (DPR) is presently 54.01%.

Insider Transactions at United Bankshares

In related news, Director Mark R. Nesselroad sold 6,000 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 35,424 shares in the company, valued at $1,387,203.84. This trade represents a 14.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.66% of the stock is owned by insiders.

Institutional Investors Weigh In On United Bankshares

A number of hedge funds and other institutional investors have recently made changes to their positions in UBSI. SBI Securities Co. Ltd. acquired a new stake in shares of United Bankshares during the fourth quarter worth $26,000. Jones Financial Companies Lllp raised its holdings in shares of United Bankshares by 55.8% during the fourth quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 310 shares during the period. Wilmington Savings Fund Society FSB raised its holdings in shares of 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 acquiring an additional 1,364 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in United Bankshares by 37.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider’s stock valued at $56,000 after buying an additional 400 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in United Bankshares in the 4th quarter valued at $85,000. 70.80% of the stock is currently owned by institutional investors and hedge funds.

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.