United Bankshares, Inc. (NASDAQ:UBSI) Shares Sold by State Street Corp

State Street Corp reduced its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 4.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,688,727 shares of the financial services provider’s stock after selling 374,259 shares during the quarter. State Street Corp owned about 5.69% of United Bankshares worth $288,085,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. UMB Bank n.a. lifted 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 purchasing an additional 594 shares in the last quarter. GAMMA Investing LLC boosted its position in United Bankshares by 34.6% during the third quarter. GAMMA Investing LLC now owns 2,079 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 534 shares during the last quarter. Innealta Capital LLC acquired a new stake in United Bankshares during the second quarter worth approximately $116,000. Marathon Strategic Advisors LLC purchased a new stake in United Bankshares in the 3rd quarter worth approximately $206,000. Finally, Quest Partners LLC raised its holdings in United Bankshares by 377.2% in the 3rd quarter. Quest Partners LLC now owns 5,641 shares of the financial services provider’s stock valued at $209,000 after acquiring an additional 4,459 shares during the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other United Bankshares news, Director J Paul Mcnamara sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.86, for a total value of $107,150.00. Following the transaction, the director now directly owns 63,409 shares of the company’s stock, valued at $2,717,709.74. This trade represents a 3.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter A. Converse sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $40.00, for a total value 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. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.66% of the company’s stock.

United Bankshares Stock Performance

Shares of UBSI stock opened at $41.30 on Wednesday. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 15.64 and a beta of 1.01. The company has a 50 day moving average price of $39.62 and a 200 day moving average price of $36.74. United Bankshares, Inc. has a one year low of $30.68 and a one year high of $44.43. 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 issued its earnings results on Thursday, October 24th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.03. United Bankshares had a return on equity of 7.58% and a net margin of 22.05%. The business had revenue of $414.67 million for the quarter, compared to analyst estimates of $260.30 million. During the same period last year, the company posted $0.71 EPS. Sell-side analysts anticipate that United Bankshares, Inc. will post 2.73 EPS for the current year.

United Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Friday, December 13th. United Bankshares’s payout ratio is currently 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.