Intech Investment Management LLC Invests $732,000 in United Bankshares, Inc. (NASDAQ:UBSI)

Intech Investment Management LLC acquired a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 19,735 shares of the financial services provider’s stock, valued at approximately $732,000.

A number of other hedge funds have also made changes to their positions in the stock. UMB Bank n.a. boosted its stake in United Bankshares by 237.6% during the 3rd quarter. UMB Bank n.a. now owns 844 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 594 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of United Bankshares by 253.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,545 shares of the financial services provider’s stock worth $50,000 after buying an additional 1,108 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of United Bankshares in the second quarter valued at $116,000. Marathon Strategic Advisors LLC bought a new position in United Bankshares during the third quarter valued at about $206,000. Finally, Quest Partners LLC grew its holdings in 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 acquiring an additional 4,459 shares during the period. Institutional investors and hedge funds own 70.80% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other United Bankshares news, Director J Paul Mcnamara sold 2,500 shares of the business’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 sale, the director now directly owns 63,409 shares of the company’s stock, valued at $2,717,709.74. The trade was a 3.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter A. Converse sold 5,000 shares of the stock in a transaction 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 owns 434,769 shares of the company’s stock, valued at $17,390,760. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.66% of the company’s stock.

United Bankshares Price Performance

Shares of NASDAQ:UBSI opened at $42.27 on Friday. The company has a market capitalization of $5.72 billion, a PE ratio of 16.01 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. The stock has a fifty day moving average of $38.86 and a 200-day moving average of $36.27. United Bankshares, Inc. has a one year low of $30.68 and a one year high of $44.43.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. United Bankshares had a return on equity of 7.58% and a net margin of 22.05%. The company had revenue of $414.67 million for the quarter, compared to analyst estimates of $260.30 million. During the same period in the previous year, the firm earned $0.71 earnings per share. As a group, equities analysts anticipate that United Bankshares, Inc. will post 2.73 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Friday, December 13th. United Bankshares’s dividend payout ratio is presently 56.06%.

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.