Citigroup Inc. Boosts Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Citigroup Inc. grew its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 32.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,849 shares of the financial services provider’s stock after purchasing an additional 41,728 shares during the period. Citigroup Inc. owned approximately 0.13% of United Bankshares worth $6,376,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in UBSI. Price T Rowe Associates Inc. MD grew its holdings in shares of United Bankshares by 5.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 91,228 shares of the financial services provider’s stock worth $3,266,000 after purchasing an additional 5,021 shares in the last quarter. Tidal Investments LLC bought a new position in shares of United Bankshares during the first quarter valued at about $242,000. Atria Investments Inc purchased a new position in shares of United Bankshares in the first quarter worth about $1,072,000. GAMMA Investing LLC lifted its stake in shares of United Bankshares by 253.5% in the 2nd 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. Finally, Lynx Investment Advisory purchased a new stake in United Bankshares during the 2nd quarter valued at about $405,000. Institutional investors own 70.80% of the company’s stock.

United Bankshares Stock Performance

Shares of NASDAQ:UBSI opened at $42.27 on Friday. 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 company has a 50-day moving average price of $38.95 and a 200-day moving average price of $36.33. The company has a market cap of $5.72 billion, a price-to-earnings ratio of 16.01 and a beta of 0.98. United Bankshares, Inc. has a 12 month low of $30.68 and a 12 month high of $44.43.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. The business had revenue of $414.67 million during the quarter, compared to analyst estimates of $260.30 million. United Bankshares had a return on equity of 7.58% and a net margin of 22.05%. During the same quarter in the prior year, the company posted $0.71 EPS. As a group, equities analysts anticipate that United Bankshares, Inc. will post 2.73 EPS for the current year.

United Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.50%. The ex-dividend date is Friday, December 13th. United Bankshares’s dividend payout ratio (DPR) is currently 56.06%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised United Bankshares from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, United Bankshares currently has a consensus rating of “Hold” and an average target price of $40.25.

Insider Buying and Selling at United Bankshares

In related news, Director J Paul Mcnamara sold 2,500 shares of the stock in a transaction dated 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 directly owns 63,409 shares of the company’s stock, valued at $2,717,709.74. This represents a 3.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peter A. Converse sold 5,000 shares of United Bankshares stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 approximately $17,390,760. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.66% of the company’s stock.

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.