Assenagon Asset Management S.A. Purchases New Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Assenagon Asset Management S.A. purchased a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 196,623 shares of the financial services provider's stock, valued at approximately $7,383,000. Assenagon Asset Management S.A. owned about 0.15% of United Bankshares at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. increased its stake in United Bankshares by 237.6% during the third quarter. UMB Bank n.a. now owns 844 shares of the financial services provider's stock worth $31,000 after acquiring an additional 594 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of United Bankshares by 34.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,079 shares of the financial services provider's stock worth $77,000 after purchasing an additional 534 shares during the period. Marathon Strategic Advisors LLC acquired a new stake in shares of United Bankshares during the 3rd quarter worth about $206,000. Quest Partners LLC raised its holdings in United Bankshares by 377.2% in the 3rd quarter. Quest Partners LLC now owns 5,641 shares of the financial services provider's stock valued at $209,000 after buying an additional 4,459 shares during the period. Finally, Centiva Capital LP acquired a new position in United Bankshares in the third quarter valued at about $213,000. Hedge funds and other institutional investors own 70.80% of the company's stock.

United Bankshares Price Performance

UBSI stock opened at $38.53 on Monday. The business's fifty day moving average price is $39.91 and its 200 day moving average price is $37.99. United Bankshares, Inc. has a 12-month low of $30.68 and a 12-month high of $44.43. The company has a market capitalization of $5.21 billion, a PE ratio of 14.59 and a beta of 1.03. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.03. The business had revenue of $414.67 million for the quarter, compared to analysts' expectations of $260.30 million. United Bankshares had a net margin of 22.05% and a return on equity of 7.58%. During the same quarter in the prior year, the company earned $0.71 earnings per share. On average, sell-side analysts anticipate that United Bankshares, Inc. will post 2.73 EPS for the current year.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend was Friday, December 13th. United Bankshares's dividend payout ratio is currently 56.06%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of United Bankshares from a "sell" rating to a "hold" rating in a research report on Wednesday, November 13th.

Insider Activity

In other news, Director J Paul Mcnamara sold 2,500 shares of the business's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.86, for a total transaction of $107,150.00. Following the completion of the transaction, the director now directly owns 63,409 shares of the company's stock, valued at approximately $2,717,709.74. The trade was a 3.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark R. Nesselroad sold 6,000 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $39.16, for a total transaction of $234,960.00. Following the sale, the director now owns 35,424 shares in the company, valued at $1,387,203.84. The trade was a 14.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,500 shares of company stock worth $542,110. Corporate insiders own 3.66% of the company's stock.

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.