Geode Capital Management LLC Purchases 53,994 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Geode Capital Management LLC boosted its position in United Bankshares, Inc. (NASDAQ:UBSI) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,306,542 shares of the financial services provider’s stock after purchasing an additional 53,994 shares during the period. Geode Capital Management LLC owned approximately 2.45% of United Bankshares worth $122,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Inspire Investing LLC lifted its stake in shares of United Bankshares by 2.7% during the 3rd quarter. Inspire Investing LLC now owns 11,095 shares of the financial services provider’s stock worth $412,000 after acquiring an additional 291 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of United Bankshares by 1.7% during the third quarter. HighTower Advisors LLC now owns 19,542 shares of the financial services provider’s stock worth $730,000 after purchasing an additional 332 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of United Bankshares by 5.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,587 shares of the financial services provider’s stock valued at $214,000 after purchasing an additional 350 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of United Bankshares by 3.6% during the third quarter. Daiwa Securities Group Inc. now owns 12,328 shares of the financial services provider’s stock valued at $457,000 after purchasing an additional 427 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in shares of United Bankshares by 4.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,367 shares of the financial services provider’s stock worth $401,000 after purchasing an additional 479 shares during the last quarter. Hedge funds and other institutional investors own 70.80% of the company’s stock.

United Bankshares Price Performance

UBSI opened at $40.01 on Wednesday. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 15.16 and a beta of 1.01. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11. United Bankshares, Inc. has a 12-month low of $30.68 and a 12-month high of $44.43. The business’s fifty day simple moving average is $40.04 and its 200-day simple moving average is $36.99.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.70 EPS for the quarter, beating 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 business 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 firm posted $0.71 EPS. On average, equities research analysts anticipate that United Bankshares, Inc. will post 2.73 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend is Friday, December 13th. United Bankshares’s dividend payout ratio (DPR) is 56.06%.

Insiders Place Their Bets

In other United Bankshares news, Director Peter A. Converse sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $40.00, for a total value of $200,000.00. Following the completion of the transaction, the director now directly owns 434,769 shares in the company, valued at approximately $17,390,760. The trade was a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director J Paul Mcnamara sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $42.86, for a total transaction of $107,150.00. Following 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 company insiders.

Analyst Ratings Changes

Separately, StockNews.com raised shares of 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, United Bankshares has a consensus rating of “Hold” and an average 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.