United Bankshares, Inc. (NASDAQ:UBSI) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 1.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,306,542 shares of the financial services provider’s stock after purchasing an additional 53,994 shares during the period. Geode Capital Management LLC’s holdings in United Bankshares were worth $122,695,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Jane Street Group LLC raised its holdings in shares of United Bankshares by 27.2% in the third quarter. Jane Street Group LLC now owns 161,489 shares of the financial services provider’s stock worth $5,991,000 after buying an additional 34,526 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in United Bankshares by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,673,056 shares of the financial services provider’s stock worth $62,070,000 after acquiring an additional 83,503 shares during the last quarter. BNP Paribas Financial Markets raised its stake in United Bankshares by 73.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 50,953 shares of the financial services provider’s stock worth $1,890,000 after acquiring an additional 21,520 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in United Bankshares by 3.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 12,328 shares of the financial services provider’s stock valued at $457,000 after purchasing an additional 427 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of United Bankshares by 10.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 468,851 shares of the financial services provider’s stock valued at $17,394,000 after purchasing an additional 42,689 shares during the period. 70.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director J Paul Mcnamara sold 2,500 shares of United Bankshares stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $42.86, for a total transaction of $107,150.00. Following the transaction, the director now owns 63,409 shares in the company, valued at approximately $2,717,709.74. This trade represents a 3.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter A. Converse sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $40.00, for a total value of $200,000.00. Following the transaction, the director now directly owns 434,769 shares in the company, valued at $17,390,760. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.66% of the company’s stock.

United Bankshares Stock Down 2.5 %

UBSI opened at $40.01 on Wednesday. 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 fifty-two week low of $30.68 and a fifty-two week high of $44.43. The company has a fifty day moving average of $40.04 and a two-hundred day moving average of $36.99. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 15.16 and a beta of 1.01.

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. 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 analyst estimates of $260.30 million. During the same quarter in the previous year, the firm earned $0.71 EPS. 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 disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Friday, December 13th. United Bankshares’s dividend payout ratio is currently 56.06%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $40.25.

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.