Peter A. Converse, a director at United Bankshares Inc. (NASDAQ:UBSI), recently sold 5,000 shares of the company's common stock. The shares were sold at a price of $40.00 each, totaling $200,000. This transaction was executed automatically under a Rule 10b5-1 trading plan that Converse had established on June 24, 2024. Following the sale, Converse retains ownership of 434,769 shares in the company.
InvestingPro Insights
While Peter A. Converse's recent sale of United Bankshares Inc. (NASDAQ:UBSI) shares might raise eyebrows, a closer look at the company's financial metrics and market performance reveals a more nuanced picture.
According to InvestingPro data, UBSI's stock has shown remarkable strength recently, with a 21.69% price total return over the past three months and an impressive 47.37% return over the past year. This robust performance suggests that despite the director's sale, the market maintains a positive outlook on the company.
InvestingPro Tips highlight UBSI's commitment to shareholder value. The company has raised its dividend for 35 consecutive years and maintained dividend payments for 41 years, demonstrating a strong track record of returning value to shareholders. With a current dividend yield of 3.47%, UBSI continues to be an attractive option for income-focused investors.
Furthermore, UBSI's financial health appears solid. The company's P/E ratio of 15.74 is relatively modest, indicating that the stock may still be reasonably valued despite its recent gains. Additionally, UBSI's operating income margin stands at a robust 47.44%, reflecting efficient operations and strong profitability.
It's worth noting that InvestingPro offers 11 additional tips for UBSI, providing investors with a more comprehensive analysis of the company's prospects and potential risks.
United Bankshares Inc. is a regional bank holding company headquartered in Charleston, West Virginia, and Washington, D.C. The company operates through its subsidiary, United Bank, providing a range of commercial and retail banking services and products.
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