BNP Paribas Financial Markets Buys 21,520 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

BNP Paribas Financial Markets raised its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 73.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,953 shares of the financial services provider’s stock after acquiring an additional 21,520 shares during the quarter. BNP Paribas Financial Markets’ holdings in United Bankshares were worth $1,890,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC grew 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 last quarter. Charles Schwab Investment Management Inc. lifted its stake in United Bankshares by 5.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,673,056 shares of the financial services provider’s stock valued at $62,070,000 after acquiring an additional 83,503 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of United Bankshares by 3.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 12,328 shares of the financial services provider’s stock valued at $457,000 after acquiring an additional 427 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of United Bankshares by 10.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 468,851 shares of the financial services provider’s stock worth $17,394,000 after acquiring an additional 42,689 shares during the period. Finally, RIA Advisory Group LLC purchased a new position in shares of United Bankshares during the third quarter valued at approximately $495,000. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Analyst Upgrades and Downgrades

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 investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $40.25.

United Bankshares Price Performance

NASDAQ UBSI opened at $41.69 on Friday. The company has a 50-day moving average price of $39.43 and a 200-day moving average price of $36.59. 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 firm has a market capitalization of $5.64 billion, a P/E ratio of 15.79 and a beta of 1.01.

United Bankshares (NASDAQ:UBSI) last announced its 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 analysts’ expectations of $260.30 million. United Bankshares had a net margin of 22.05% and a return on equity of 7.58%. During the same period in the prior year, the company earned $0.71 earnings per share. Equities research analysts anticipate that United Bankshares, Inc. will post 2.73 earnings per share for the current year.

United Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.48 annualized dividend and a yield of 3.55%. United Bankshares’s dividend payout ratio (DPR) is presently 56.06%.

Insider Buying and Selling at United Bankshares

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 stock was 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 directly owns 434,769 shares in the company, valued at approximately $17,390,760. The trade was a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director J Paul Mcnamara sold 2,500 shares of the firm’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 sale, the director now owns 63,409 shares in the company, valued at approximately $2,717,709.74. The trade was a 3.79 % decrease in their position. The disclosure for this sale can be found here. 3.66% of the stock is currently owned by corporate insiders.

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.