Geode Capital Management LLC Has $122.70 Million Stock Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Geode Capital Management LLC raised its position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,306,542 shares of the financial services provider's stock after buying an additional 53,994 shares during the quarter. Geode Capital Management LLC owned 2.45% of United Bankshares worth $122,695,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in United Bankshares by 1.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,907,665 shares of the financial services provider's stock valued at $256,521,000 after buying an additional 142,545 shares in the last quarter. Earnest Partners LLC lifted its position in shares of United Bankshares by 1.8% during the 2nd quarter. Earnest Partners LLC now owns 4,253,797 shares of the financial services provider's stock valued at $137,993,000 after acquiring an additional 74,638 shares during the period. Victory Capital Management Inc. lifted its position in shares of United Bankshares by 0.4% during the 3rd quarter. Victory Capital Management Inc. now owns 3,997,311 shares of the financial services provider's stock valued at $148,300,000 after acquiring an additional 14,833 shares during the period. ProShare Advisors LLC lifted its position in shares of United Bankshares by 110.4% during the 2nd quarter. ProShare Advisors LLC now owns 2,206,434 shares of the financial services provider's stock valued at $71,577,000 after acquiring an additional 1,157,579 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of United Bankshares by 5.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,673,056 shares of the financial services provider's stock valued at $62,070,000 after acquiring an additional 83,503 shares during the period. 70.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other United Bankshares news, Director Peter A. Converse sold 5,000 shares of the company's stock in a transaction dated 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 transaction, the director now owns 434,769 shares of the company's stock, valued at $17,390,760. This represents a 1.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director J Paul Mcnamara sold 2,500 shares of the company's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.86, for a total value 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 position. The disclosure for this sale can be found here. 3.66% of the stock is owned by corporate insiders.

United Bankshares Price Performance

Shares of UBSI stock traded down $2.25 on Wednesday, hitting $37.76. 835,372 shares of the company's stock were exchanged, compared to its average volume of 522,454. 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 12 month low of $30.68 and a 12 month high of $44.43. The stock has a market cap of $5.11 billion, a P/E ratio of 14.30 and a beta of 1.01. The company has a 50 day moving average of $40.14 and a 200 day moving average of $37.05.

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

United Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, December 13th. This represents a $1.48 annualized dividend and a dividend yield of 3.92%. United Bankshares's dividend payout ratio is currently 56.06%.

Wall Street Analyst Weigh In

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

United Bankshares Profile

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.