United Bankshares, Inc. (NASDAQ:UBSI) Holdings Decreased by Nisa Investment Advisors LLC

Posted by Defense World Staff on Jul 29th, 2023

Nisa Investment Advisors LLC reduced its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI – Free Report) by 18.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,261 shares of the financial services provider’s stock after selling 7,000 shares during the quarter. Nisa Investment Advisors LLC’s holdings in United Bankshares were worth $1,100,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of UBSI. Waldron Private Wealth LLC raised its position in United Bankshares by 5.6% in the first quarter. Waldron Private Wealth LLC now owns 83,573 shares of the financial services provider’s stock worth $2,959,000 after acquiring an additional 4,469 shares in the last quarter. Texas Permanent School Fund Corp raised its position in United Bankshares by 30.2% in the first quarter. Texas Permanent School Fund Corp now owns 117,872 shares of the financial services provider’s stock worth $4,149,000 after acquiring an additional 27,342 shares in the last quarter. SG Americas Securities LLC raised its position in United Bankshares by 82.0% in the first quarter. SG Americas Securities LLC now owns 30,916 shares of the financial services provider’s stock worth $1,088,000 after acquiring an additional 13,927 shares in the last quarter. Campbell Newman Asset Management Inc. raised its position in United Bankshares by 0.9% in the first quarter. Campbell Newman Asset Management Inc. now owns 39,263 shares of the financial services provider’s stock worth $1,382,000 after acquiring an additional 362 shares in the last quarter. Finally, Arizona State Retirement System raised its position in United Bankshares by 2.7% in the first quarter. Arizona State Retirement System now owns 39,018 shares of the financial services provider’s stock worth $1,373,000 after acquiring an additional 1,040 shares in the last quarter. 69.61% of the stock is currently owned by institutional investors.

Insider Activity at United Bankshares

In other news, Director Lacy I. Rice III purchased 10,000 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was acquired at an average price of $29.43 per share, with a total value of $294,300.00. Following the purchase, the director now owns 33,261 shares in the company, valued at approximately $978,871.23. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders bought 10,950 shares of company stock valued at $322,581. 4.37% of the stock is owned by corporate insiders.

United Bankshares Trading Down 0.4 %

NASDAQ:UBSI opened at $33.07 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.99 and a quick ratio of 0.99. United Bankshares, Inc. has a fifty-two week low of $27.68 and a fifty-two week high of $44.15. The stock’s 50-day moving average is $30.79 and its two-hundred day moving average is $34.56. The stock has a market cap of $4.46 billion, a PE ratio of 11.36 and a beta of 1.01.

United Bankshares (NASDAQ:UBSI – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.66 by $0.02. The business had revenue of $381.11 million during the quarter, compared to analysts’ expectations of $259.14 million. United Bankshares had a return on equity of 8.64% and a net margin of 28.52%. During the same quarter in the previous year, the business posted $0.71 EPS. As a group, equities research analysts forecast that United Bankshares, Inc. will post 2.67 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Friday, June 9th were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, June 8th. This represents a $1.44 annualized dividend and a dividend yield of 4.35%. United Bankshares’s payout ratio is 49.48%.

Analysts Set New Price Targets

Several analysts have issued reports on UBSI shares. Keefe, Bruyette & Woods cut their price objective on United Bankshares from $38.00 to $36.00 and set a “market perform” rating on the stock in a report on Thursday, April 6th. 3M restated a “maintains” rating on shares of United Bankshares in a report on Friday, April 28th. Raymond James cut their price objective on United Bankshares from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday, April 6th. Stephens started coverage on United Bankshares in a report on Tuesday, April 4th. They set an “equal weight” rating and a $32.00 price objective on the stock. Finally, StockNews.com upgraded United Bankshares to a “sell” rating in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, United Bankshares currently has an average rating of “Hold” and a consensus price target of $39.00.

About United Bankshares

(Free Report)

United Bankshares, Inc, a financial holding company, 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, NOW accounts, and interest-bearing checking accounts.