Regent Peak Wealth Advisors LLC Takes Position in United Bankshares, Inc. $UBSI

by · The Markets Daily

Regent Peak Wealth Advisors LLC acquired a new stake in United Bankshares, Inc. (NASDAQ:UBSI – Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 50,682 shares of the financial services provider’s stock, valued at approximately $1,886,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of UBSI. Norges Bank acquired a new position in shares of United Bankshares in the 2nd quarter worth approximately $60,618,000. First Trust Advisors LP raised its holdings in shares of United Bankshares by 367.5% during the second quarter. First Trust Advisors LP now owns 1,935,979 shares of the financial services provider’s stock worth $70,528,000 after purchasing an additional 1,521,864 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of United Bankshares in the 1st quarter worth about $10,856,000. AQR Capital Management LLC boosted its holdings in shares of United Bankshares by 100.1% in the 2nd quarter. AQR Capital Management LLC now owns 562,111 shares of the financial services provider’s stock valued at $20,478,000 after buying an additional 281,190 shares during the period. Finally, Jupiter Asset Management Ltd. grew its position in shares of United Bankshares by 518.0% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 285,811 shares of the financial services provider’s stock valued at $10,412,000 after buying an additional 239,567 shares during the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Piper Sandler set a $42.50 target price on United Bankshares and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Zacks Research downgraded United Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of United Bankshares in a report on Monday. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, United Bankshares has a consensus rating of “Hold” and a consensus price target of $41.83.

Get Our Latest Report on UBSI

United Bankshares Trading Up 0.1%

NASDAQ:UBSI opened at $39.57 on Friday. United Bankshares, Inc. has a 1 year low of $30.50 and a 1 year high of $40.52. The business has a fifty day moving average of $37.33 and a 200-day moving average of $37.09. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 12.97 and a beta of 0.81.

United Bankshares (NASDAQ:UBSI – Get Free Report) last posted its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.10. United Bankshares had a net margin of 24.37% and a return on equity of 8.15%. The business had revenue of $280.90 million during the quarter, compared to the consensus estimate of $307.78 million. During the same quarter in the prior year, the company posted $0.70 earnings per share. Equities analysts predict that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 12th will be given a dividend of $0.38 per share. This is a boost from United Bankshares’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, December 12th. This represents a $1.52 annualized dividend and a dividend yield of 3.8%. United Bankshares’s payout ratio is 49.84%.

United Bankshares Company Profile

(Free Report)

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.

See Also

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