Citigroup Inc. Purchases 41,728 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Citigroup Inc. raised its position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 32.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 171,849 shares of the financial services provider's stock after buying an additional 41,728 shares during the period. Citigroup Inc. owned about 0.13% of United Bankshares worth $6,376,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. raised its holdings in United Bankshares by 237.6% in the 3rd quarter. UMB Bank n.a. now owns 844 shares of the financial services provider's stock worth $31,000 after purchasing an additional 594 shares in the last quarter. GAMMA Investing LLC lifted its holdings in United Bankshares by 253.5% in the second quarter. GAMMA Investing LLC now owns 1,545 shares of the financial services provider's stock worth $50,000 after buying an additional 1,108 shares during the period. Innealta Capital LLC purchased a new stake in United Bankshares in the second quarter worth about $116,000. Marathon Strategic Advisors LLC bought a new stake in United Bankshares during the 3rd quarter valued at approximately $206,000. Finally, Quest Partners LLC raised its position in shares of United Bankshares by 377.2% in the 3rd quarter. Quest Partners LLC now owns 5,641 shares of the financial services provider's stock worth $209,000 after acquiring an additional 4,459 shares in the last quarter. 70.80% of the stock is owned by institutional investors.

Insider Buying and Selling

In other United Bankshares news, Director Peter A. Converse sold 5,000 shares of United Bankshares stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $40.00, for a total value of $200,000.00. Following the completion of the sale, the director now owns 434,769 shares of the company's stock, valued at approximately $17,390,760. This trade represents a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director J Paul Mcnamara sold 2,500 shares of the company's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.86, for a total value of $107,150.00. Following the transaction, the director now directly owns 63,409 shares in the company, valued at approximately $2,717,709.74. The trade was a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded United Bankshares from a "sell" rating to a "hold" rating in a research report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $40.25.

United Bankshares Stock Down 0.5 %

NASDAQ:UBSI traded down $0.22 during mid-day trading on Friday, hitting $42.27. 435,313 shares of the company's stock were exchanged, compared to its average volume of 565,761. The company has a market cap of $5.72 billion, a PE ratio of 16.01 and a beta of 0.98. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.96. United Bankshares, Inc. has a one year low of $30.68 and a one year high of $44.43. The business has a fifty day moving average price of $38.95 and a 200 day moving average price of $36.34.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.03. The firm had revenue of $414.67 million for the quarter, compared to analysts' expectations of $260.30 million. United Bankshares had a return on equity of 7.58% and a net margin of 22.05%. During the same period in the previous year, the firm posted $0.71 EPS. Equities analysts predict that United Bankshares, Inc. will post 2.73 EPS for the current year.

United Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Friday, December 13th. United Bankshares's dividend payout ratio is presently 56.06%.

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.