Fmr LLC Grows Position in United Bankshares, Inc. (NASDAQ:UBSI)

FMR LLC grew its holdings in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 292.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,997 shares of the financial services provider's stock after buying an additional 61,822 shares during the period. FMR LLC owned approximately 0.06% of United Bankshares worth $3,079,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in UBSI. UMB Bank n.a. boosted its stake in shares of United Bankshares by 237.6% during the 3rd quarter. UMB Bank n.a. now owns 844 shares of the financial services provider's stock worth $31,000 after purchasing an additional 594 shares during the period. GAMMA Investing LLC boosted its stake in shares of United Bankshares by 34.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,079 shares of the financial services provider's stock worth $77,000 after purchasing an additional 534 shares during the period. Innealta Capital LLC purchased a new position in shares of United Bankshares during the 2nd quarter worth about $116,000. Marathon Strategic Advisors LLC purchased a new position in shares of United Bankshares during the 3rd quarter worth about $206,000. Finally, Quest Partners LLC boosted its position in United Bankshares by 377.2% in the 3rd 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 during the period. 70.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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 research 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 stock presently has an average rating of "Hold" and an average price target of $40.25.

Insider Activity

In related news, Director Peter A. Converse sold 5,000 shares of the business'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 owns 434,769 shares in the company, valued at $17,390,760. The trade was a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director J Paul Mcnamara sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $42.86, for a total transaction of $107,150.00. Following the transaction, the director now 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 position. The disclosure for this sale can be found here. Company insiders own 3.66% of the company's stock.

United Bankshares Trading Down 0.2 %

United Bankshares stock traded down $0.09 during trading hours on Friday, hitting $40.67. The company had a trading volume of 484,636 shares, compared to its average volume of 520,740. The firm has a market cap of $5.50 billion, a P/E ratio of 15.41 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 1 year low of $30.68 and a 1 year high of $44.43. The company has a 50-day moving average price of $39.94 and a two-hundred day moving average price of $36.89.

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, beating 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 analyst estimates of $260.30 million. During the same quarter in the previous year, the business posted $0.71 EPS. On average, sell-side analysts anticipate that United Bankshares, Inc. will post 2.73 earnings per share for the current year.

United Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend yield of 3.64%. United Bankshares's dividend payout ratio is currently 56.06%.

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.