166,746 Shares in United Bankshares, Inc. (NASDAQ:UBSI) Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. purchased a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 166,746 shares of the financial services provider's stock, valued at approximately $6,186,000. Point72 Asset Management L.P. owned 0.12% of United Bankshares as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Tidal Investments LLC acquired a new position in United Bankshares during the 1st quarter worth about $242,000. GAMMA Investing LLC boosted 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 valued at $50,000 after acquiring an additional 1,108 shares during the last quarter. SG Americas Securities LLC increased its position in United Bankshares by 218.2% during the 2nd quarter. SG Americas Securities LLC now owns 29,676 shares of the financial services provider's stock valued at $963,000 after purchasing an additional 20,350 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in United Bankshares by 7.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,081 shares of the financial services provider's stock worth $392,000 after purchasing an additional 858 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in United Bankshares by 5.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,587 shares of the financial services provider's stock worth $214,000 after purchasing an additional 350 shares during the last quarter. Institutional investors own 70.80% of the company's stock.

United Bankshares Trading Down 0.2 %

Shares of United Bankshares stock traded down $0.07 on Monday, reaching $41.62. 125,273 shares of the company's stock were exchanged, compared to its average volume of 521,271. The firm's 50-day moving average is $39.43 and its two-hundred day moving average is $36.62. The company has a market capitalization of $5.63 billion, a P/E ratio of 15.79 and a beta of 1.01. 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 52 week low of $30.68 and a 52 week high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last posted 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. 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 period last year, the company posted $0.71 earnings per share. Sell-side analysts predict that United Bankshares, Inc. will post 2.73 EPS 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. Shareholders of record on Friday, December 13th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.48 annualized dividend and a yield of 3.56%. United Bankshares's payout ratio is currently 56.06%.

Insider Buying and Selling at United Bankshares

In other United Bankshares news, Director Peter A. Converse sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $40.00, for a total transaction of $200,000.00. Following the completion of the sale, the director now directly owns 434,769 shares of the company's stock, valued at approximately $17,390,760. The trade was a 1.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 value of $107,150.00. Following the completion of the transaction, 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. Insiders own 3.66% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of 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 assigned 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.

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.