United Bankshares, Inc. (NASDAQ:UBSI) Shares Bought by Holocene Advisors LP

Holocene Advisors LP lifted its stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 47.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,450 shares of the financial services provider's stock after buying an additional 15,282 shares during the quarter. Holocene Advisors LP's holdings in United Bankshares were worth $1,760,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. lifted its holdings in United Bankshares by 237.6% in the third quarter. UMB Bank n.a. now owns 844 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 594 shares during the period. GAMMA Investing LLC lifted its stake in shares of United Bankshares by 253.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,545 shares of the financial services provider's stock valued at $50,000 after purchasing an additional 1,108 shares during the period. Innealta Capital LLC purchased a new stake in United Bankshares during the second quarter worth $116,000. Marathon Strategic Advisors LLC acquired a new stake in United Bankshares during the third quarter valued at $206,000. Finally, Quest Partners LLC increased its holdings in United Bankshares by 377.2% in the third 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 in the last quarter. 70.80% of the stock is owned by institutional investors and hedge funds.

United Bankshares Price Performance

Shares of NASDAQ:UBSI traded up $0.09 during midday trading on Friday, reaching $41.69. 450,642 shares of the company's stock traded hands, compared to its average volume of 494,604. The company has a market cap of $5.64 billion, a P/E ratio of 15.79 and a beta of 1.01. The company has a fifty day simple moving average of $39.43 and a two-hundred day simple moving average of $36.59. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.97. United Bankshares, Inc. has a 1 year low of $30.68 and a 1 year high of $44.43.

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

United Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.55%. The ex-dividend date is Friday, December 13th. United Bankshares's payout ratio is 56.06%.

Insiders Place Their Bets

In other news, Director J Paul Mcnamara sold 2,500 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $2,717,709.74. This trade represents a 3.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Peter A. Converse sold 5,000 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $40.00, for a total transaction of $200,000.00. Following the sale, the director now directly owns 434,769 shares of the company's stock, valued at approximately $17,390,760. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. 3.66% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, StockNews.com raised shares of United Bankshares from a "sell" rating to a "hold" rating in a research note on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price 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.