United Bankshares (NASDAQ:UBSI) Hits New 1-Year Low – Should You Sell?

United Bankshares, Inc. (NASDAQ:UBSI)’s share price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $30.51 and last traded at $31.53, with a volume of 749016 shares trading hands. The stock had previously closed at $32.34.

Analyst Ratings Changes

A number of brokerages have issued reports on UBSI. Piper Sandler reissued a “neutral” rating and issued a $38.50 target price on shares of United Bankshares in a research report on Wednesday, March 12th. StockNews.com downgraded United Bankshares from a “hold” rating to a “sell” rating in a research 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 research note on Monday, January 27th. Finally, Stephens reaffirmed an “equal weight” rating and set a $43.00 price objective on shares of United Bankshares in a research report on Monday, January 27th. One research 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 presently has an average rating of “Hold” and an average price target of $41.88.

United Bankshares Price Performance

The company has a market capitalization of $4.53 billion, a PE ratio of 11.55 and a beta of 0.91. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $36.11 and a 200-day simple moving average of $37.89.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Friday, January 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the company earned $0.59 EPS. Equities analysts anticipate that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.68%. United Bankshares’s dividend payout ratio (DPR) is presently 54.01%.

Insider Activity

In related news, Director Sara Dumond bought 2,600 shares of the stock in a transaction on Monday, March 24th. The shares were bought 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 $176,940.54. This trade represents a 105.95 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.66% of the company’s stock.

Institutional Investors Weigh In On United Bankshares

Hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC raised its position in United Bankshares by 27.2% in the third quarter. Jane Street Group LLC now owns 161,489 shares of the financial services provider’s stock worth $5,991,000 after acquiring an additional 34,526 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in United Bankshares by 73.1% during the third quarter. BNP Paribas Financial Markets now owns 50,953 shares of the financial services provider’s stock worth $1,890,000 after purchasing an additional 21,520 shares during the last quarter. JPMorgan Chase & Co. increased its position in United Bankshares by 9.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 594,819 shares of the financial services provider’s stock worth $22,068,000 after purchasing an additional 52,949 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of United Bankshares during the 4th quarter worth about $7,383,000. Finally, Truist Financial Corp grew its holdings in shares of United Bankshares by 69.8% during the fourth quarter. Truist Financial Corp now owns 22,916 shares of the financial services provider’s stock worth $860,000 after buying an additional 9,418 shares in the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

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.