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

Tranquility Partners LLC trimmed its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 3.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,185 shares of the financial services provider’s stock after selling 1,000 shares during the period. Tranquility Partners LLC’s holdings in United Bankshares were worth $1,046,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. ProShare Advisors LLC grew its stake in shares of United Bankshares by 110.4% in the second quarter. ProShare Advisors LLC now owns 2,206,434 shares of the financial services provider’s stock valued at $71,577,000 after buying an additional 1,157,579 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings 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. Dimensional Fund Advisors LP lifted its stake in United Bankshares by 1.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,907,665 shares of the financial services provider’s stock worth $256,521,000 after purchasing an additional 142,545 shares during the last quarter. Systematic Financial Management LP lifted its holdings in United Bankshares by 73.8% in the second quarter. Systematic Financial Management LP now owns 279,039 shares of the financial services provider’s stock worth $9,052,000 after acquiring an additional 118,501 shares during the last quarter. Finally, Nicholson Wealth Management Group LLC acquired a new position in shares of United Bankshares during the third quarter valued at $2,849,000. 70.80% of the stock is owned by institutional investors and hedge funds.

United Bankshares Price Performance

Shares of United Bankshares stock opened at $41.98 on Tuesday. The firm has a market cap of $5.68 billion, a P/E ratio of 15.90 and a beta of 0.98. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.97. United Bankshares, Inc. has a twelve month low of $30.68 and a twelve month high of $43.77. The firm’s 50-day simple moving average is $38.02 and its 200-day simple moving average is $35.84.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.67 by $0.03. The company had revenue of $414.67 million for the quarter, compared to the consensus estimate 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 previous year, the company earned $0.71 EPS. As a group, research analysts expect that United Bankshares, Inc. will post 2.73 EPS for the current fiscal year.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Friday, December 13th. United Bankshares’s dividend payout ratio is currently 56.06%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other United Bankshares news, Director Peter A. Converse sold 5,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $17,390,760. This represents a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.66% of the company’s stock.

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.