Point72 Asia Singapore Pte. Ltd. Buys Shares of 9,422 United Bankshares, Inc. (NASDAQ:UBSI)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in United Bankshares, Inc. (NASDAQ:UBSI) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 9,422 shares of the financial services provider’s stock, valued at approximately $350,000.

Several other hedge funds have also recently modified their holdings of UBSI. SG Americas Securities LLC grew its stake in United Bankshares by 218.2% in the second quarter. SG Americas Securities LLC now owns 29,676 shares of the financial services provider’s stock valued at $963,000 after purchasing an additional 20,350 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of 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 buying an additional 83,503 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of United Bankshares by 3.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 12,328 shares of the financial services provider’s stock worth $457,000 after acquiring an additional 427 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in United Bankshares by 10.0% during 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 acquiring an additional 42,689 shares during the last quarter. Finally, RIA Advisory Group LLC acquired a new stake in United Bankshares in the third quarter valued at approximately $495,000. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at United Bankshares

In other United Bankshares news, Director J Paul Mcnamara sold 2,500 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 63,409 shares of the company’s stock, valued at approximately $2,717,709.74. This trade represents a 3.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter A. Converse sold 5,000 shares of United Bankshares stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $40.00, for a total transaction of $200,000.00. Following the sale, the director now owns 434,769 shares of the company’s stock, valued at approximately $17,390,760. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.66% of the company’s stock.

United Bankshares Stock Down 1.2 %

UBSI stock opened at $41.53 on Wednesday. The stock has a market capitalization of $5.62 billion, a PE ratio of 15.78 and a beta of 1.01. United Bankshares, Inc. has a 52 week low of $30.68 and a 52 week high of $44.43. 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 firm has a 50 day moving average of $39.03 and a 200 day moving average of $36.40.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data 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 business 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. Sell-side analysts forecast that United Bankshares, Inc. will post 2.73 earnings per share for the current year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend yield of 3.56%. The ex-dividend date is Friday, December 13th. United Bankshares’s dividend payout ratio is presently 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.