United Bankshares, Inc. (NASDAQ:UBSI) Director Peter A. Converse Sells 5,000 Shares

United Bankshares, Inc. (NASDAQ:UBSI) Director Peter A. Converse sold 5,000 shares of the stock in a transaction 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 transaction, the director now directly owns 434,769 shares in the company, valued at $17,390,760. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

United Bankshares Stock Performance

Shares of United Bankshares stock traded down $1.25 during trading on Thursday, hitting $41.34. 1,104,008 shares of the stock were exchanged, compared to its average volume of 526,867. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of 16.13 and a beta of 0.98. The company has a fifty day moving average price of $37.34 and a 200-day moving average price of $35.34. United Bankshares, Inc. has a 1-year low of $29.19 and a 1-year high of $42.95. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. United Bankshares had a net margin of 22.05% and a return on equity of 7.58%. The firm had revenue of $414.67 million for the quarter, compared to analyst estimates of $260.30 million. During the same quarter in the prior year, the business posted $0.71 EPS. As a group, equities analysts predict that United Bankshares, Inc. will post 2.7 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were 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 was Friday, September 13th. United Bankshares’s dividend payout ratio (DPR) is presently 56.06%.

Hedge Funds Weigh In On United Bankshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. raised 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 acquiring an additional 594 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of United Bankshares by 253.5% during the second quarter. GAMMA Investing LLC now owns 1,545 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 1,108 shares during the last quarter. New Covenant Trust Company N.A. acquired a new stake in shares of United Bankshares during the first quarter worth $79,000. Innealta Capital LLC bought a new position in United Bankshares during the second quarter worth $116,000. Finally, Marathon Strategic Advisors LLC bought a new position in United Bankshares during the third quarter worth $206,000. Institutional investors own 70.80% of the company’s stock.

Analyst Upgrades and Downgrades

UBSI has been the subject of several research reports. DA Davidson increased their target price on shares of United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods increased their target price on shares of United Bankshares from $38.00 to $40.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. Stephens increased their target price on shares of United Bankshares from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Finally, StockNews.com cut shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, United Bankshares currently has a consensus rating of “Hold” and a consensus 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.