Nicholson Wealth Management Group LLC Invests $2.85 Million in United Bankshares, Inc. (NASDAQ:UBSI)

Nicholson Wealth Management Group LLC acquired a new stake in United Bankshares, Inc. (NASDAQ:UBSI) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 76,784 shares of the financial services provider’s stock, valued at approximately $2,849,000. United Bankshares comprises about 2.3% of Nicholson Wealth Management Group LLC’s investment portfolio, making the stock its 4th biggest position. Nicholson Wealth Management Group LLC owned about 0.06% of United Bankshares as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. boosted its position in United Bankshares by 237.6% in the third quarter. UMB Bank n.a. now owns 844 shares of the financial services provider’s stock valued at $31,000 after buying an additional 594 shares during the last quarter. GAMMA Investing LLC grew its position in shares of United Bankshares by 253.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,545 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 1,108 shares during the period. New Covenant Trust Company N.A. purchased a new position in shares of United Bankshares in the 1st quarter valued at about $79,000. Innealta Capital LLC acquired a new position in United Bankshares in the 2nd quarter worth about $116,000. Finally, Marathon Strategic Advisors LLC acquired a new position in United Bankshares in the 3rd quarter worth about $206,000. 70.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. DA Davidson upped their target price on United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods upped their price objective on shares of United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Stephens lifted their target price on shares of United Bankshares from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Finally, StockNews.com cut shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, United Bankshares presently has an average rating of “Hold” and an average target price of $40.25.

United Bankshares Trading Up 0.8 %

Shares of UBSI stock opened at $37.19 on Friday. United Bankshares, Inc. has a fifty-two week low of $25.99 and a fifty-two week high of $39.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.99 and a current ratio of 1.00. The stock’s fifty day moving average is $37.19 and its two-hundred day moving average is $35.02. The firm has a market capitalization of $5.03 billion, a P/E ratio of 14.19 and a beta of 0.99.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.07. United Bankshares had a net margin of 22.44% and a return on equity of 7.72%. The firm had revenue of $255.94 million for the quarter, compared to the consensus estimate of $255.54 million. During the same period last year, the firm posted $0.68 earnings per share. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. Research analysts expect that United Bankshares, Inc. will post 2.7 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a $0.37 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.98%. United Bankshares’s dividend payout ratio (DPR) is presently 56.49%.

United Bankshares 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.