Rockefeller Capital Management L.P. Sells 1,062 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Rockefeller Capital Management L.P. lowered its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 5.6% during the third quarter, HoldingsChannel.com reports. The fund owned 17,845 shares of the financial services provider’s stock after selling 1,062 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in United Bankshares were worth $662,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in United Bankshares by 1.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 250,618 shares of the financial services provider’s stock worth $9,298,000 after purchasing an additional 4,037 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of United Bankshares by 4.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,166 shares of the financial services provider’s stock worth $1,082,000 after buying an additional 1,197 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of 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 buying an additional 21,520 shares during the period. FMR LLC increased its stake in shares of United Bankshares by 292.0% in the 3rd quarter. FMR LLC now owns 82,997 shares of the financial services provider’s stock valued at $3,079,000 after acquiring an additional 61,822 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP lifted its position in shares of United Bankshares by 40.6% during the 3rd quarter. Advantage Alpha Capital Partners LP now owns 13,690 shares of the financial services provider’s stock valued at $508,000 after acquiring an additional 3,952 shares during the period. 70.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Peter A. Converse sold 5,000 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 434,769 shares of the company’s stock, valued at $17,390,760. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director J Paul Mcnamara sold 2,500 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was 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 $2,717,709.74. This trade represents a 3.79 % 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 corporate insiders.

Analyst Ratings Changes

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

United Bankshares Stock Performance

Shares of UBSI stock opened at $41.35 on Tuesday. 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 firm has a fifty day simple moving average of $39.52 and a two-hundred day simple moving average of $36.68. United Bankshares, Inc. has a 12 month low of $30.68 and a 12 month high of $44.43. The firm has a market capitalization of $5.59 billion, a PE ratio of 15.66 and a beta of 1.01.

United Bankshares (NASDAQ:UBSI) last posted 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. United Bankshares had a net margin of 22.05% and a return on equity of 7.58%. The company had revenue of $414.67 million during the quarter, compared to the consensus estimate of $260.30 million. During the same period in the previous year, the firm posted $0.71 earnings per share. Analysts forecast that United Bankshares, Inc. will post 2.73 EPS for the current fiscal 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 dividend yield of 3.58%. United Bankshares’s payout ratio is 56.06%.

United Bankshares Company 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.