Swiss National Bank Sells 1,500 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Swiss National Bank cut its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 0.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 263,963 shares of the financial services provider’s stock after selling 1,500 shares during the quarter. Swiss National Bank owned 0.20% of United Bankshares worth $9,793,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UBSI. UMB Bank n.a. raised its holdings in United Bankshares by 237.6% in the 3rd quarter. UMB Bank n.a. now owns 844 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 594 shares in the last quarter. GAMMA Investing LLC lifted its position in United Bankshares by 253.5% during the second quarter. GAMMA Investing LLC now owns 1,545 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 1,108 shares during the period. New Covenant Trust Company N.A. acquired a new stake in United Bankshares during the first quarter worth about $79,000. Innealta Capital LLC bought a new position in United Bankshares in the 2nd quarter valued at about $116,000. Finally, Marathon Strategic Advisors LLC acquired a new position in shares of United Bankshares in the 3rd quarter valued at approximately $206,000. 70.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Peter A. Converse sold 5,000 shares of the company’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 in the company, valued at $17,390,760. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.66% of the stock is currently owned by corporate insiders.

United Bankshares Stock Up 2.6 %

Shares of NASDAQ UBSI opened at $42.81 on Monday. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 16.22 and a beta of 0.98. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11. United Bankshares, Inc. has a 12 month low of $30.68 and a 12 month high of $43.77. The stock has a 50-day moving average price of $38.46 and a two-hundred day moving average price of $36.06.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.67 by $0.03. The business had revenue of $414.67 million during the quarter, compared to the consensus estimate 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 firm earned $0.71 EPS. As a group, analysts forecast that United Bankshares, Inc. will post 2.73 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 3.46%. United Bankshares’s dividend payout ratio is currently 56.06%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded 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 company. According to data from MarketBeat.com, United Bankshares presently has a consensus rating of “Hold” and an average target price of $40.25.

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.