Intech Investment Management LLC Makes New $732,000 Investment in United Bankshares, Inc. (NASDAQ:UBSI)

Intech Investment Management LLC acquired a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,735 shares of the financial services provider's stock, valued at approximately $732,000.

A number of other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of United Bankshares by 1.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,907,665 shares of the financial services provider's stock worth $256,521,000 after purchasing an additional 142,545 shares during the period. Earnest Partners LLC grew its holdings in United Bankshares by 1.8% in 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 buying an additional 74,638 shares in the last quarter. Victory Capital Management Inc. increased its position in 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 worth $148,300,000 after buying an additional 14,833 shares during the period. ProShare Advisors LLC lifted its holdings in shares of United Bankshares by 110.4% during the second quarter. ProShare Advisors LLC now owns 2,206,434 shares of the financial services provider's stock worth $71,577,000 after buying an additional 1,157,579 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its position in shares of United Bankshares by 16.7% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,558,081 shares of the financial services provider's stock valued at $57,805,000 after acquiring an additional 223,150 shares during the period. Institutional investors own 70.80% of the company's stock.

Insider Activity at United Bankshares

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

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of 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 issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $40.25.

United Bankshares Price Performance

NASDAQ UBSI traded down $0.22 during midday trading on Friday, hitting $42.27. The company had a trading volume of 435,313 shares, compared to its average volume of 524,414. The company has a market capitalization of $5.72 billion, a PE ratio of 16.01 and a beta of 0.98. United Bankshares, Inc. has a twelve month low of $30.68 and a twelve month high of $44.43. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average price of $38.95 and a 200-day moving average price of $36.33.

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 for the quarter, topping the consensus estimate of $0.67 by $0.03. United Bankshares had a net margin of 22.05% and a return on equity of 7.58%. The business had revenue of $414.67 million during the quarter, compared to analysts' expectations of $260.30 million. During the same quarter in the prior year, the business posted $0.71 earnings per share. As a group, analysts anticipate that United Bankshares, Inc. will post 2.73 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently declared 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 of this dividend is Friday, December 13th. This represents a $1.48 annualized dividend and a dividend yield of 3.50%. United Bankshares's dividend payout ratio is 56.06%.

United Bankshares Company 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.