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

Nicholson Wealth Management Group LLC acquired a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI) in the third quarter, Holdings Channel reports. The institutional investor acquired 76,784 shares of the financial services provider’s stock, valued at approximately $2,849,000. United Bankshares accounts for about 2.3% of Nicholson Wealth Management Group LLC’s holdings, making the stock its 4th largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of UBSI. Dimensional Fund Advisors LP lifted its stake in United Bankshares by 1.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,907,665 shares of the financial services provider’s stock worth $256,521,000 after purchasing an additional 142,545 shares in the last quarter. Earnest Partners LLC increased its stake in United Bankshares by 1.8% during the second quarter. Earnest Partners LLC now owns 4,253,797 shares of the financial services provider’s stock worth $137,993,000 after purchasing an additional 74,638 shares during the period. Victory Capital Management Inc. lifted its position in shares of United Bankshares by 1.4% during the second quarter. Victory Capital Management Inc. now owns 3,982,478 shares of the financial services provider’s stock worth $129,192,000 after purchasing an additional 55,633 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of United Bankshares by 110.4% in the second quarter. ProShare Advisors LLC now owns 2,206,434 shares of the financial services provider’s stock valued at $71,577,000 after purchasing an additional 1,157,579 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in shares of United Bankshares by 1.8% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,334,931 shares of the financial services provider’s stock valued at $43,305,000 after purchasing an additional 23,640 shares in the last quarter. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

UBSI has been the subject of several recent research reports. DA Davidson raised their price target on shares of United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Stephens lifted their target price on United Bankshares from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. StockNews.com downgraded United Bankshares from a “hold” rating to a “sell” rating in a report on Thursday, September 26th. Finally, Keefe, Bruyette & Woods lifted their price objective on United Bankshares from $38.00 to $40.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, United Bankshares currently has a consensus rating of “Hold” and an average target price of $40.25.

United Bankshares Trading Up 0.8 %

UBSI opened at $37.19 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.31. United Bankshares, Inc. has a 52 week low of $25.99 and a 52 week high of $39.93. The business’s 50 day moving average is $37.19 and its two-hundred day moving average is $35.02. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of 14.19 and a beta of 0.99.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.64 by $0.07. The firm had revenue of $255.94 million during the quarter, compared to the consensus estimate of $255.54 million. United Bankshares had a net margin of 22.44% and a return on equity of 7.72%. United Bankshares’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS. On average, research analysts predict that United Bankshares, Inc. will post 2.7 EPS for the current year.

United Bankshares Announces Dividend

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

About United Bankshares

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.