Janney Montgomery Scott LLC Sells 474 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Janney Montgomery Scott LLC decreased its position in United Bankshares, Inc. (NASDAQ:UBSI) by 1.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,220 shares of the financial services provider’s stock after selling 474 shares during the period. Janney Montgomery Scott LLC’s holdings in United Bankshares were worth $1,826,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of UBSI. ProShare Advisors LLC boosted its stake in United Bankshares by 110.4% in the 2nd quarter. ProShare Advisors LLC now owns 2,206,434 shares of the financial services provider’s stock worth $71,577,000 after purchasing an additional 1,157,579 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in United Bankshares by 1.8% in the 2nd 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 in the last quarter. Systematic Financial Management LP lifted its stake in United Bankshares by 73.8% during the 2nd quarter. Systematic Financial Management LP now owns 279,039 shares of the financial services provider’s stock valued at $9,052,000 after acquiring an additional 118,501 shares during the period. Nicholson Wealth Management Group LLC bought a new position in United Bankshares during the 3rd quarter valued at about $2,849,000. Finally, Earnest Partners LLC lifted its stake in United Bankshares by 1.8% during 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 acquiring an additional 74,638 shares during the period. Institutional investors own 70.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of United Bankshares from $38.00 to $40.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. DA Davidson upped their target price 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. StockNews.com upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Stephens upped their target price on shares of 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 investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $40.25.

United Bankshares Price Performance

Shares of NASDAQ:UBSI opened at $42.54 on Thursday. The firm’s 50 day moving average price is $37.71 and its 200-day moving average price is $35.63. United Bankshares, Inc. has a twelve month low of $30.68 and a twelve month high of $43.77. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $5.75 billion, a PE ratio of 16.11 and a beta of 0.98.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.03. The firm had revenue of $414.67 million for the quarter, compared to analysts’ expectations 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 prior year, the business earned $0.71 EPS. Equities research analysts expect that United Bankshares, Inc. will post 2.73 EPS for the current year.

United Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.48%. The ex-dividend date is Friday, December 13th. United Bankshares’s dividend payout ratio is 56.06%.

Insider Buying and Selling

In related news, Director Peter A. Converse sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $40.00, for a total value 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 approximately $17,390,760. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.66% of the stock is currently owned by insiders.

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.