Quantbot Technologies LP purchased a new stake in United Bankshares, Inc. (NASDAQ:UBSI – Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 24,400 shares of the financial services provider’s stock, valued at approximately $673,000.
A number of other large investors also recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of United Bankshares by 0.3% in the 1st quarter. BlackRock Inc. now owns 19,825,470 shares of the financial services provider’s stock valued at $697,857,000 after acquiring an additional 51,225 shares in the last quarter. State Street Corp raised its position in shares of United Bankshares by 3.6% in the first quarter. State Street Corp now owns 14,758,953 shares of the financial services provider’s stock valued at $524,767,000 after buying an additional 515,033 shares in the last quarter. Vanguard Group Inc. raised its position in shares of United Bankshares by 0.9% in the third quarter. Vanguard Group Inc. now owns 13,726,992 shares of the financial services provider’s stock valued at $490,739,000 after buying an additional 127,760 shares in the last quarter. Goldman Sachs Group Inc. raised its position in United Bankshares by 742.3% during the second quarter. Goldman Sachs Group Inc. now owns 5,080,124 shares of the financial services provider’s stock valued at $150,727,000 after purchasing an additional 4,477,011 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC raised its position in United Bankshares by 0.3% during the second quarter. Silvercrest Asset Management Group LLC now owns 3,618,459 shares of the financial services provider’s stock valued at $107,360,000 after purchasing an additional 12,563 shares in the last quarter. Institutional investors and hedge funds own 71.63% of the company’s stock.
United Bankshares Stock Down 1.2 %
UBSI opened at $34.56 on Wednesday. The firm has a 50 day moving average price of $36.50 and a 200-day moving average price of $32.18. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 12.75 and a beta of 1.03. United Bankshares, Inc. has a twelve month low of $25.35 and a twelve month high of $42.18.
United Bankshares Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 8th were paid a dividend of $0.37 per share. This is an increase from United Bankshares’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, December 7th. This represents a $1.48 dividend on an annualized basis and a yield of 4.28%. United Bankshares’s dividend payout ratio is presently 54.61%.
Analyst Upgrades and Downgrades
Separately, Raymond James boosted their price objective on shares of United Bankshares from $38.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $36.00.
United Bankshares Profile
United Bankshares, Inc, a financial holding company, 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, NOW accounts, and interest-bearing checking accounts.
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