Natixis Advisors LLC raised its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 21.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 336,029 shares of the financial services provider's stock after acquiring an additional 58,274 shares during the quarter. Natixis Advisors LLC owned approximately 0.25% of United Bankshares worth $12,466,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in UBSI. Pinnacle Financial Partners Inc acquired a new position in shares of United Bankshares in the 3rd quarter valued at $476,000. Victory Capital Management Inc. lifted its position in United Bankshares by 0.4% in the third 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 last quarter. Vestia Personal Wealth Advisors acquired a new position in United Bankshares in the third quarter valued at $219,000. Versor Investments LP purchased a new position in shares of United Bankshares during the third quarter worth about $393,000. Finally, Los Angeles Capital Management LLC increased its position in shares of United Bankshares by 23.4% during the third quarter. Los Angeles Capital Management LLC now owns 10,813 shares of the financial services provider's stock worth $401,000 after purchasing an additional 2,051 shares in the last quarter. Hedge funds and other institutional investors own 70.80% of the company's stock.
Insider Transactions at United Bankshares
In related news, Director Peter A. Converse sold 5,000 shares of United Bankshares stock in a transaction that occurred 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 sale, the director now directly owns 434,769 shares in the company, valued at $17,390,760. The trade was a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.66% of the company's stock.
United Bankshares Trading Down 1.1 %
Shares of UBSI stock opened at $41.40 on Thursday. The company has a market capitalization of $5.60 billion, a P/E ratio of 15.68 and a beta of 0.98. 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 business's 50 day moving average is $38.23 and its two-hundred day moving average is $35.93. United Bankshares, Inc. has a twelve month low of $30.68 and a twelve month high of $43.77.
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 for the quarter, topping the consensus estimate of $0.67 by $0.03. The firm had revenue of $414.67 million during the quarter, compared to the consensus estimate 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 last year, the company earned $0.71 earnings per share. Equities analysts forecast that United Bankshares, Inc. will post 2.73 EPS for the current year.
United Bankshares Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, December 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.57%. United Bankshares's dividend payout ratio (DPR) is 56.06%.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on UBSI. Stephens upped their target price on United Bankshares from $36.00 to $39.00 and gave the company an "equal weight" rating in a research report on Friday, July 26th. StockNews.com raised United Bankshares from a "sell" rating to a "hold" rating in a report on Wednesday, November 13th. DA Davidson lifted their target price on shares of United Bankshares from $36.00 to $41.00 and gave the company a "neutral" rating in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods upped their price target on shares of United Bankshares from $38.00 to $40.00 and gave the company a "market perform" rating in a research report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $40.25.
Get Our Latest Research Report on UBSI
United Bankshares Profile
(
Free Report)
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.
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