UNITED BANKSHARES INC/WV
In the published model solve dated 2026-Q2, anchored at $49.09, UNITED BANKSHARES INC/WV (UBSI) is priced for 11.2% return on equity. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 28, 2026 from SEC EDGAR filings.
• United Bankshares is a serial acquirer of community banks across the Mid-Atlantic and Southeast, most recently folding in Piedmont, which brought roughly $2.36 billion in total assets at the acquisition date per the filing, and the engine of the story is buying smaller banks and integrating them. • The counterintuitive number is the return spread: the bank earns a return on tangible common equity of 14.40% while the headline return on equity is 9.08% [Source: UBSI Q1 2026 results, April 23 202
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404 institutional managers reported holding UBSI in 13F filings for the quarter ended 2026-03-31. Together they hold about 71% of the company; the top 10 hold 48%. 51 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 5.8M shares were sold short as of the 2026-06-15 count, about 4% of shares outstanding (6.8 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
UBSI's share count grew 8.4% over the past five years even with $279.13M spent on repurchases. It pays a dividend, and has paid one every year in our records (17 and counting); the current rate is $1.49 a share annually. Cash returned over the past three years: $560.57M in dividends and $198.30M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at UBSI over the trailing three years: 2023: 2 buys totaling $36k; 2025: 1 buy totaling $91k; 2026: 1 buy totaling $4k. 27 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
UBSI's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-10 | -0.4% | -17.7% |
| 2023-11-10 | +8.3% | +22.8% |
| 2024-03-01 | -0.5% | -0.6% |
| 2024-05-11 | +0.4% | -0.9% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
UBSI's latest 8-K filings: 2026-07-23 (items 2.02, 9.01); 2026-05-18 (items 5.07); 2026-04-23 (items 2.02, 9.01); 2026-01-22 (items 2.02, 9.01); 2025-11-21 (items 8.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 28, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.