United Bankshares, Inc. (NASDAQ:UBSI) Shares Sold by Chartwell Investment Partners LLC

Chartwell Investment Partners LLC lowered its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 10.1% in the third quarter, HoldingsChannel reports. The firm owned 251,537 shares of the financial services provider’s stock after selling 28,200 shares during the quarter. Chartwell Investment Partners LLC’s holdings in United Bankshares were worth $9,332,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in UBSI. SG Americas Securities LLC raised its position in United Bankshares by 218.2% in the 2nd quarter. SG Americas Securities LLC now owns 29,676 shares of the financial services provider’s stock valued at $963,000 after purchasing an additional 20,350 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in United Bankshares by 77.8% in the first quarter. BNP Paribas Financial Markets now owns 69,932 shares of the financial services provider’s stock worth $2,503,000 after acquiring an additional 30,590 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in United Bankshares by 37.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 51,455 shares of the financial services provider’s stock worth $1,811,000 after acquiring an additional 14,080 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in shares of United Bankshares in the 1st quarter valued at approximately $901,000. Finally, Earnest Partners LLC increased its position in shares of United Bankshares by 1.8% in the 2nd quarter. Earnest Partners LLC now owns 4,253,797 shares of the financial services provider’s stock valued at $137,993,000 after purchasing an additional 74,638 shares during the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at United Bankshares

In related news, Director Peter A. Converse sold 5,000 shares of the firm’s stock in a transaction dated 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 owns 434,769 shares of the company’s stock, valued at $17,390,760. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.66% of the stock is owned by insiders.

United Bankshares Stock Performance

Shares of UBSI stock opened at $41.64 on Monday. United Bankshares, Inc. has a 1 year low of $29.19 and a 1 year high of $42.95. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 15.77 and a beta of 0.98. The stock’s 50-day moving average is $37.45 and its two-hundred day moving average is $35.44.

United Bankshares (NASDAQ:UBSI) last released its quarterly 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 return on equity of 7.58% and a net margin of 22.05%. The firm 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 business posted $0.71 EPS. Analysts predict that United Bankshares, Inc. will post 2.73 earnings per share for the current year.

United Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a $0.37 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.48 annualized dividend and a yield of 3.55%. United Bankshares’s dividend payout ratio (DPR) is 56.06%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on UBSI. StockNews.com downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods increased their price objective on United Bankshares from $38.00 to $40.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Stephens boosted their target price on United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Finally, DA Davidson increased their price target 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.