Cassaday & Co Wealth Management LLC Takes $223,000 Position in United Bankshares, Inc. (NASDAQ:UBSI)

Cassaday & Co Wealth Management LLC acquired a new stake in United Bankshares, Inc. (NASDAQ:UBSI) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,946 shares of the financial services provider’s stock, valued at approximately $223,000.

Other large investors also recently modified their holdings of the company. Linden Thomas Advisory Services LLC lifted its holdings in shares of United Bankshares by 1.5% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 21,419 shares of the financial services provider’s stock worth $804,000 after acquiring an additional 310 shares during the last quarter. Retirement Systems of Alabama lifted its stake in United Bankshares by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 168,997 shares of the financial services provider’s stock worth $6,346,000 after purchasing an additional 517 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of United Bankshares by 206.0% in the 4th quarter. Fifth Third Bancorp now owns 976 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 657 shares in the last quarter. Axxcess Wealth Management LLC increased its position in shares of United Bankshares by 1.6% during the 3rd quarter. Axxcess Wealth Management LLC now owns 42,398 shares of the financial services provider’s stock valued at $1,170,000 after purchasing an additional 671 shares during the last quarter. Finally, AlphaMark Advisors LLC raised its holdings in shares of United Bankshares by 8.5% during the 4th quarter. AlphaMark Advisors LLC now owns 8,740 shares of the financial services provider’s stock valued at $328,000 after buying an additional 685 shares in the last quarter. 70.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods lowered their price target on shares of United Bankshares from $40.00 to $38.00 and set a “market perform” rating for the company in a research note on Friday, May 3rd. Stephens dropped their target price on United Bankshares from $36.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $37.00.

United Bankshares Stock Down 0.6 %

United Bankshares stock traded down $0.20 during trading hours on Friday, hitting $31.87. 328,402 shares of the stock traded hands, compared to its average volume of 364,450. United Bankshares, Inc. has a one year low of $25.35 and a one year high of $38.74. The company has a market cap of $4.31 billion, a PE ratio of 12.16 and a beta of 0.99. The firm’s 50-day moving average price is $33.47 and its two-hundred day moving average price is $34.82. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.36.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, April 25th. The financial services provider reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The business had revenue of $401.39 million for the quarter, compared to the consensus estimate of $256.80 million. United Bankshares had a net margin of 22.51% and a return on equity of 7.72%. During the same quarter last year, the firm posted $0.74 EPS. On average, research analysts forecast that United Bankshares, Inc. will post 2.62 EPS for the current year.

United Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date is Friday, June 14th. United Bankshares’s payout ratio is 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.