SoFi stock falls after announcing $1.5B public offering of common stock
United Bankshares, Inc. (NASDAQ:UBSI) announced that its board of directors approved a new plan to repurchase up to 5 million shares of its common stock, representing approximately 3.6% of the company’s total outstanding shares. The decision was made at a board meeting on Thursday.
The new repurchase plan allows United Bankshares to buy back shares through open market purchases, privately negotiated transactions, or other methods, in accordance with applicable state and federal securities laws, including SEC Rules 10b-5 and 10b-18. The plan does not obligate the company to repurchase a specific number of shares, and management will determine the timing, price, and quantity of purchases at its discretion. The company may discontinue, suspend, or restart the repurchase activity at any time based on prevailing conditions.
The new plan replaces the previous repurchase program approved in May 2022, which was terminated effective Thursday. Under the prior plan, United Bankshares repurchased 1,103,666 shares of its common stock from October 1, 2025, through November 20, 2025, at a weighted average price of $35.99 per share.
Shares repurchased under the new plan may be used to fund employee benefit programs or for other corporate purposes, including potential acquisitions.
This information is based on a statement issued in a recent SEC filing.
In other recent news, United Bankshares reported record third-quarter earnings that exceeded analyst expectations. The company announced earnings of $130.7 million, or $0.92 per diluted share, surpassing the analyst estimate of $0.81. Revenue for the quarter reached $323.32 million, which was above the consensus estimate of $308.61 million. These results reflect the bank’s continued organic growth and effective expense management. Additionally, United Bankshares declared a fourth-quarter dividend of $0.38 per share, marking the 52nd consecutive year of dividend increases. The total dividends for 2025 amount to $1.49 per share, slightly up from $1.48 per share in 2024. This ongoing dividend growth highlights the company’s commitment to returning value to shareholders.
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