United Bankshares, Inc. (NASDAQ:UBSI) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board decreased its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 16.7% in the 3rd quarter, Holdings Channel reports. The firm owned 12,911 shares of the financial services provider’s stock after selling 2,581 shares during the period. Ontario Teachers Pension Plan Board’s holdings in United Bankshares were worth $479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. UMB Bank n.a. raised its position in United Bankshares by 237.6% during the 3rd quarter. UMB Bank n.a. now owns 844 shares of the financial services provider’s stock worth $31,000 after buying an additional 594 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of United Bankshares by 253.5% during the 2nd 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 in the 1st quarter worth about $79,000. Innealta Capital LLC purchased a new stake in United Bankshares in the second quarter valued at approximately $116,000. Finally, Marathon Strategic Advisors LLC acquired a new stake in shares of United Bankshares during the 3rd quarter worth $206,000. Institutional investors and hedge funds own 70.80% of the company’s stock.

Insider Buying and Selling at United Bankshares

In other 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 transaction of $200,000.00. Following the completion of the transaction, the director now directly owns 434,769 shares of the company’s stock, valued at approximately $17,390,760. This represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.66% of the stock is owned by insiders.

United Bankshares Stock Performance

Shares of United Bankshares stock opened at $41.74 on Friday. The firm has a market cap of $5.64 billion, a PE ratio of 15.81 and a beta of 0.98. United Bankshares, Inc. has a 1 year low of $30.68 and a 1 year high of $43.77. The firm’s 50-day simple moving average is $38.34 and its 200-day simple moving average is $35.97. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.97.

United Bankshares (NASDAQ:UBSI) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. United Bankshares had a return on equity of 7.58% and a net margin of 22.05%. The company had revenue of $414.67 million for the quarter, compared to the consensus estimate of $260.30 million. During the same quarter last year, the business posted $0.71 EPS. Equities analysts forecast that United Bankshares, Inc. will post 2.73 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Friday, December 13th. United Bankshares’s dividend payout ratio is presently 56.06%.

Wall Street Analyst Weigh In

Several research firms recently commented on UBSI. DA Davidson raised their price target on shares of United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods lifted their target price on United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. StockNews.com raised United Bankshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Finally, Stephens lifted their price objective on United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.