LMR Partners LLP Purchases New Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

LMR Partners LLP purchased a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,471 shares of the financial services provider’s stock, valued at approximately $277,000.

Several other large investors also recently modified their holdings of UBSI. ProShare Advisors LLC grew its stake in shares of 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 valued at $71,577,000 after purchasing an additional 1,157,579 shares during the period. Vaughan Nelson Investment Management L.P. grew its stake in shares of United Bankshares by 16.7% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,558,081 shares of the financial services provider’s stock valued at $57,805,000 after purchasing an additional 223,150 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of 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 valued at $256,521,000 after purchasing an additional 142,545 shares during the period. Systematic Financial Management LP grew its stake in shares of United Bankshares by 73.8% in 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 purchasing an additional 118,501 shares during the period. Finally, Nicholson Wealth Management Group LLC bought a new stake in shares of United Bankshares in the 3rd quarter valued at approximately $2,849,000. 70.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on UBSI. StockNews.com raised United Bankshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Stephens upped their price objective on United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods upped their price objective on United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Finally, DA Davidson upped their price objective on United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $40.25.

United Bankshares Stock Down 1.1 %

NASDAQ:UBSI opened at $41.40 on Thursday. The stock’s fifty day moving average price is $38.23 and its two-hundred day moving average price is $35.93. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 15.68 and a beta of 0.98. United Bankshares, Inc. has a 52-week low of $30.68 and a 52-week high of $43.77. 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 (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 during 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 previous year, the company posted $0.71 EPS. On average, analysts anticipate that United Bankshares, Inc. will post 2.73 EPS for the current year.

United Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend is Friday, December 13th. United Bankshares’s payout ratio is 56.06%.

Insider Buying and Selling at United Bankshares

In related news, Director Peter A. Converse sold 5,000 shares of the company’s 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 in the company, valued at $17,390,760. This represents a 1.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.66% of the company’s stock.

United Bankshares Company 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.