Barclays PLC Boosts Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Barclays PLC increased its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 89.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 269,852 shares of the financial services provider’s stock after purchasing an additional 127,486 shares during the period. Barclays PLC owned approximately 0.20% of United Bankshares worth $10,012,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. UMB Bank n.a. grew its stake in shares of United Bankshares by 237.6% during the third quarter. UMB Bank n.a. now owns 844 shares of the financial services provider’s stock valued at $31,000 after buying an additional 594 shares during the last quarter. GAMMA Investing LLC grew its position in United Bankshares by 34.6% during the 3rd 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 purchased a new position in United Bankshares in the 2nd quarter worth approximately $116,000. Marathon Strategic Advisors LLC bought a new stake in United Bankshares in the third quarter valued at approximately $206,000. Finally, Quest Partners LLC boosted its stake in shares of United Bankshares by 377.2% during the third quarter. Quest Partners LLC now owns 5,641 shares of the financial services provider’s stock valued at $209,000 after purchasing an additional 4,459 shares during the period. Institutional investors own 70.80% of the company’s stock.

Insider Activity at United Bankshares

In related news, Director Peter A. Converse sold 5,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $17,390,760. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director J Paul Mcnamara sold 2,500 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.86, for a total value of $107,150.00. Following the completion of the transaction, the director now 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 disclosure for this sale can be found here. 3.66% of the stock is owned by corporate insiders.

United Bankshares Trading Up 0.9 %

NASDAQ UBSI opened at $41.03 on Tuesday. The stock has a market cap of $5.55 billion, a P/E ratio of 15.54 and a beta of 1.01. United Bankshares, Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $44.43. The stock has a 50 day simple moving average of $40.04 and a two-hundred day simple moving average of $36.99. 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 announced its quarterly 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. The company had revenue of $414.67 million during the quarter, compared to analyst estimates of $260.30 million. United Bankshares had a return on equity of 7.58% and a net margin of 22.05%. During the same quarter last year, the firm posted $0.71 earnings per share. On average, analysts forecast that United Bankshares, Inc. will post 2.73 earnings per share for the current year.

United Bankshares Dividend Announcement

The business also recently declared 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. This represents a $1.48 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Friday, December 13th. United Bankshares’s dividend payout ratio is currently 56.06%.

Wall Street Analysts Forecast Growth

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

United Bankshares 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.