Envestnet Portfolio Solutions Inc. Has $228,000 Stock Position in United Bankshares, Inc. (NASDAQ:UBSI)

Envestnet Portfolio Solutions Inc. trimmed its position in United Bankshares, Inc. (NASDAQ:UBSI) by 8.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,082 shares of the financial services provider’s stock after selling 578 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in United Bankshares were worth $228,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC raised its holdings in United Bankshares by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,306,542 shares of the financial services provider’s stock valued at $122,695,000 after buying an additional 53,994 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in United Bankshares by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,710,588 shares of the financial services provider’s stock worth $64,233,000 after purchasing an additional 37,532 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in shares of United Bankshares by 3.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,612,170 shares of the financial services provider’s stock valued at $60,538,000 after buying an additional 54,089 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of United Bankshares by 9.8% in the third quarter. JPMorgan Chase & Co. now owns 594,819 shares of the financial services provider’s stock valued at $22,068,000 after buying an additional 52,949 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of United Bankshares by 1.3% in the fourth quarter. Rhumbline Advisers now owns 455,157 shares of the financial services provider’s stock worth $17,091,000 after acquiring an additional 6,002 shares during the period. Institutional investors and hedge funds own 70.80% of the company’s stock.

Insider Activity

In other news, Director Sara Dumond bought 2,600 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were bought at an average cost of $35.01 per share, with a total value of $91,026.00. Following the completion of the purchase, the director now directly owns 5,054 shares in the company, valued at $176,940.54. This represents a 105.95 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 3.66% of the company’s stock.

Analyst Ratings Changes

UBSI has been the subject of several research analyst reports. StockNews.com lowered United Bankshares from a “hold” rating to a “sell” rating in a research report on Monday, January 27th. Stephens reiterated an “equal weight” rating and issued a $43.00 price target on shares of United Bankshares in a report on Monday, January 27th. Keefe, Bruyette & Woods lowered their target price on United Bankshares from $46.00 to $45.00 and set a “market perform” rating on the stock in a research report on Monday, January 27th. Finally, Piper Sandler restated a “neutral” rating and set a $38.50 price target on shares of United Bankshares in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, United Bankshares presently has an average rating of “Hold” and a consensus target price of $41.88.

United Bankshares Trading Down 1.3 %

Shares of UBSI stock opened at $34.40 on Friday. The company has a market capitalization of $4.93 billion, a PE ratio of 12.55 and a beta of 0.98. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. The business’s fifty day moving average is $36.60 and its 200 day moving average is $38.00. United Bankshares, Inc. has a 52-week low of $30.68 and a 52-week high of $44.43.

United Bankshares (NASDAQ:UBSI) last released its earnings results 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 return on equity of 7.60% and a net margin of 22.94%. During the same period in the prior year, the business posted $0.59 earnings per share. On average, equities research analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 4.30%. United Bankshares’s payout ratio is 54.01%.

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.