Segall Bryant & Hamill LLC Raises Stock Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Segall Bryant & Hamill LLC grew its position in United Bankshares, Inc. (NASDAQ:UBSI) by 10.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 213,238 shares of the financial services provider’s stock after acquiring an additional 20,591 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in United Bankshares were worth $7,911,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. increased its position in United Bankshares by 4.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 37,149 shares of the financial services provider’s stock valued at $1,378,000 after acquiring an additional 1,744 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in shares of United Bankshares in the third quarter valued at approximately $221,000. LMR Partners LLP acquired a new stake in shares of United Bankshares during the third quarter worth $277,000. Quest Partners LLC increased its stake 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 buying an additional 4,459 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its position in United Bankshares by 16.7% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,558,081 shares of the financial services provider’s stock worth $57,805,000 after buying an additional 223,150 shares during the last quarter. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at United Bankshares

In other United Bankshares news, 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.66% of the stock is owned by company insiders.

United Bankshares Stock Up 0.8 %

UBSI opened at $41.74 on Friday. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 15.81 and a beta of 0.98. United Bankshares, Inc. has a 12 month low of $30.68 and a 12 month high of $43.77. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.96. The business has a 50-day moving average of $38.34 and a two-hundred day moving average of $35.97.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results 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. The firm had revenue of $414.67 million during the quarter, compared to analyst estimates of $260.30 million. United Bankshares had a net margin of 22.05% and a return on equity of 7.58%. During the same quarter in the prior year, the business posted $0.71 earnings per share. On average, research analysts expect that United Bankshares, Inc. will post 2.73 earnings per share for the current year.

United Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors 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 yield of 3.55%. The ex-dividend date of this dividend is Friday, December 13th. United Bankshares’s payout ratio is currently 56.06%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on UBSI shares. StockNews.com raised shares of United Bankshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Keefe, Bruyette & Woods boosted their target price on United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Stephens lifted their price target on 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, DA Davidson upped their price objective on United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, United Bankshares presently has a consensus rating of “Hold” and a consensus price target of $40.25.

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.