Handelsbanken Fonder AB Purchases 2,400 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Handelsbanken Fonder AB boosted its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 8.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,046 shares of the financial services provider’s stock after purchasing an additional 2,400 shares during the quarter. Handelsbanken Fonder AB’s holdings in United Bankshares were worth $1,128,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB lifted its position in shares of United Bankshares by 1,921.1% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 1,364 shares during the period. Principal Securities Inc. lifted its holdings in shares of United Bankshares by 10.1% in the fourth quarter. Principal Securities Inc. now owns 3,115 shares of the financial services provider’s stock worth $117,000 after buying an additional 285 shares in the last quarter. Milestone Asset Management LLC purchased a new stake in United Bankshares in the fourth quarter valued at approximately $201,000. Choreo LLC bought a new position in United Bankshares during the fourth quarter valued at approximately $206,000. Finally, Quest Partners LLC grew its holdings in shares of United Bankshares by 377.2% in the third quarter. Quest Partners LLC now owns 5,641 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 4,459 shares during the last quarter. 70.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on UBSI. StockNews.com lowered United Bankshares from a “hold” rating to a “sell” rating in a research report on Monday, January 27th. Stephens reiterated an “equal weight” rating and issued a $43.00 target price on shares of United Bankshares in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods decreased their target price on United Bankshares from $46.00 to $45.00 and set a “market perform” rating for the company in a report on Monday, January 27th.

Insider Buying and Selling

In other news, Director Mark R. Nesselroad sold 6,000 shares of United Bankshares stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $39.16, for a total value of $234,960.00. Following the completion of the sale, the director now owns 35,424 shares of the company’s stock, valued at $1,387,203.84. The trade was a 14.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.66% of the stock is currently owned by insiders.

United Bankshares Price Performance

Shares of NASDAQ UBSI opened at $35.75 on Friday. United Bankshares, Inc. has a 1-year low of $30.68 and a 1-year high of $44.43. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 13.05 and a beta of 1.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The stock’s 50-day moving average is $37.71 and its two-hundred day moving average is $38.34.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. During the same quarter in the prior year, the firm posted $0.59 EPS. Analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 4.14%. United Bankshares’s dividend payout ratio is presently 54.01%.

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.