Fmr LLC Has $3.08 Million Position in United Bankshares, Inc. (NASDAQ:UBSI)

Fmr LLC boosted its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 292.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 82,997 shares of the financial services provider’s stock after purchasing an additional 61,822 shares during the period. Fmr LLC’s holdings in United Bankshares were worth $3,079,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Dimensional Fund Advisors LP lifted its position in United Bankshares by 1.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,907,665 shares of the financial services provider’s stock valued at $256,521,000 after acquiring an additional 142,545 shares in the last quarter. Earnest Partners LLC lifted its stake in United Bankshares by 1.8% in the second quarter. Earnest Partners LLC now owns 4,253,797 shares of the financial services provider’s stock valued at $137,993,000 after acquiring an additional 74,638 shares during the last quarter. Victory Capital Management Inc. lifted its stake in United Bankshares by 0.4% in the third quarter. Victory Capital Management Inc. now owns 3,997,311 shares of the financial services provider’s stock valued at $148,300,000 after acquiring an additional 14,833 shares during the last quarter. ProShare Advisors LLC grew its position in shares of United Bankshares by 110.4% in the 2nd quarter. ProShare Advisors LLC now owns 2,206,434 shares of the financial services provider’s stock valued at $71,577,000 after acquiring an additional 1,157,579 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of 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 worth $62,070,000 after purchasing an additional 83,503 shares during the last quarter. 70.80% of the stock is currently owned by institutional investors and hedge funds.

United Bankshares Stock Performance

Shares of NASDAQ UBSI opened at $40.67 on Friday. The stock’s fifty day moving average price is $39.94 and its two-hundred day moving average price is $36.86. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of 15.41 and a beta of 1.01. United Bankshares, Inc. has a one year low of $30.68 and a one year high of $44.43. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.96.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.67 by $0.03. The company had revenue of $414.67 million for 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 last year, the firm earned $0.71 earnings per share. On average, equities analysts forecast that United Bankshares, Inc. will post 2.73 EPS for the current year.

United Bankshares Dividend Announcement

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 paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Friday, December 13th. United Bankshares’s dividend payout ratio (DPR) is presently 56.06%.

Insider Buying and Selling

In other news, Director J Paul Mcnamara sold 2,500 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.86, for a total transaction of $107,150.00. Following the completion of the transaction, the director now directly owns 63,409 shares in the company, valued at approximately $2,717,709.74. This represents a 3.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter A. Converse sold 5,000 shares of United Bankshares stock in a transaction dated 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 $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. 3.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.