Retirement Systems of Alabama Cuts Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Retirement Systems of Alabama lessened its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 1.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 163,869 shares of the financial services provider’s stock after selling 2,595 shares during the quarter. Retirement Systems of Alabama owned 0.12% of United Bankshares worth $6,080,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in UBSI. UMB Bank n.a. lifted its stake in United Bankshares by 237.6% in the third quarter. UMB Bank n.a. now owns 844 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 594 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of United Bankshares by 34.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,079 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 534 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of United Bankshares during the 2nd quarter worth $116,000. Marathon Strategic Advisors LLC acquired a new position in shares of United Bankshares during the third quarter worth $206,000. Finally, Quest Partners LLC grew its stake in shares of United Bankshares by 377.2% during the third quarter. Quest Partners LLC now owns 5,641 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 4,459 shares in the last quarter. 70.80% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other United Bankshares news, Director J Paul Mcnamara sold 2,500 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.86, for a total transaction of $107,150.00. Following the transaction, the director now directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 completion of the sale, 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 disclosure for this sale can be found here. 3.66% of the stock is currently owned by corporate insiders.

United Bankshares Trading Down 5.6 %

Shares of United Bankshares stock opened at $37.76 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11. The company has a fifty day simple moving average of $40.14 and a 200-day simple moving average of $37.05. The stock has a market cap of $5.11 billion, a price-to-earnings ratio of 14.30 and a beta of 1.01. United Bankshares, Inc. has a 12-month low of $30.68 and a 12-month high of $44.43.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.03. United Bankshares had a net margin of 22.05% and a return on equity of 7.58%. The company had revenue of $414.67 million during the quarter, compared to the consensus estimate of $260.30 million. During the same quarter in the prior year, the firm posted $0.71 earnings per share. On average, equities analysts forecast that United Bankshares, Inc. will post 2.73 EPS for the current fiscal year.

United Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, December 13th. This represents a $1.48 dividend on an annualized basis and a yield of 3.92%. United Bankshares’s dividend payout ratio is presently 56.06%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded United Bankshares from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, United Bankshares currently 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.