Quest Partners LLC Purchases 4,459 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Quest Partners LLC lifted its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 377.2% in the third quarter, Holdings Channel.com reports. The firm owned 5,641 shares of the financial services provider’s stock after buying an additional 4,459 shares during the period. Quest Partners LLC’s holdings in United Bankshares were worth $209,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of United Bankshares by 16.7% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,558,081 shares of the financial services provider’s stock worth $57,805,000 after purchasing an additional 223,150 shares during the period. RIA Advisory Group LLC purchased a new position in shares of United Bankshares in the 3rd quarter worth approximately $495,000. Natixis Advisors LLC boosted its holdings in shares of United Bankshares by 21.0% in the 3rd quarter. Natixis Advisors LLC now owns 336,029 shares of the financial services provider’s stock worth $12,466,000 after purchasing an additional 58,274 shares during the period. Pinnacle Financial Partners Inc purchased a new position in shares of United Bankshares in the 3rd quarter worth approximately $476,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of United Bankshares by 0.4% in 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 purchasing an additional 14,833 shares during the period. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Insider Buying and Selling at United Bankshares

In other United Bankshares news, Director Peter A. Converse sold 5,000 shares of United Bankshares stock in a transaction 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 $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 available at this hyperlink. Also, Director J Paul Mcnamara sold 2,500 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was 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 directly owns 63,409 shares of the company’s stock, valued at approximately $2,717,709.74. The trade was a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded United Bankshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $40.25.

United Bankshares Price Performance

UBSI opened at $42.49 on Thursday. The business has a fifty day moving average of $38.68 and a 200 day moving average of $36.18. United Bankshares, Inc. has a 52-week low of $30.68 and a 52-week high of $44.43. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The stock has a market cap of $5.75 billion, a P/E ratio of 16.09 and a beta of 0.98.

United Bankshares (NASDAQ:UBSI) 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 analysts’ consensus estimates of $0.67 by $0.03. United Bankshares had a return on equity of 7.58% and a net margin of 22.05%. The company had revenue of $414.67 million during the quarter, compared to analysts’ expectations of $260.30 million. During the same quarter in the previous year, the business earned $0.71 EPS. As a group, sell-side analysts anticipate that United Bankshares, Inc. will post 2.73 EPS for the current year.

United Bankshares Announces Dividend

The firm 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 dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend is Friday, December 13th. United Bankshares’s payout ratio is currently 56.06%.

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.