JPMorgan Chase & Co. Has $22.07 Million Stock Position in United Bankshares, Inc. (NASDAQ:UBSI)

JPMorgan Chase & Co. lifted its position in United Bankshares, Inc. (NASDAQ:UBSI) by 9.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 594,819 shares of the financial services provider’s stock after buying an additional 52,949 shares during the period. JPMorgan Chase & Co.’s holdings in United Bankshares were worth $22,068,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Jane Street Group LLC increased its position in shares of United Bankshares by 27.2% during the third quarter. Jane Street Group LLC now owns 161,489 shares of the financial services provider’s stock worth $5,991,000 after acquiring an additional 34,526 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in United Bankshares by 5.3% in 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 period. BNP Paribas Financial Markets increased its holdings in United Bankshares by 73.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 50,953 shares of the financial services provider’s stock worth $1,890,000 after purchasing an additional 21,520 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of United Bankshares by 3.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 12,328 shares of the financial services provider’s stock valued at $457,000 after purchasing an additional 427 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings 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 valued at $17,394,000 after purchasing an additional 42,689 shares in the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

United Bankshares Price Performance

Shares of United Bankshares stock opened at $36.92 on Thursday. 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 capitalization of $4.99 billion, a price-to-earnings ratio of 13.98 and a beta of 1.03. United Bankshares, Inc. has a twelve month low of $30.68 and a twelve month high of $44.43. The company has a 50-day simple moving average of $40.19 and a two-hundred day simple moving average of $37.68.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the business posted $0.71 earnings per share. Analysts forecast that United Bankshares, Inc. will post 2.73 EPS for the current year.

United Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a dividend of $0.37 per share. The ex-dividend date was Friday, December 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.01%. United Bankshares’s payout ratio is presently 56.06%.

Insider Transactions at United Bankshares

In other United Bankshares 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 sale, the director now owns 63,409 shares of the company’s stock, 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter A. Converse sold 5,000 shares of the firm’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 value of $200,000.00. Following the sale, the director now directly owns 434,769 shares of the company’s stock, valued at $17,390,760. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,500 shares of company stock worth $542,110. Corporate insiders own 3.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised United Bankshares from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th.

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.