Dynamic Technology Lab Private Ltd Takes $268,000 Position in United Bankshares, Inc. (NASDAQ:UBSI)

Dynamic Technology Lab Private Ltd acquired a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,217 shares of the financial services provider’s stock, valued at approximately $268,000.

Several other hedge funds have also recently added to or reduced their stakes in UBSI. UMB Bank n.a. increased its position in United Bankshares by 237.6% in the 3rd quarter. UMB Bank n.a. now owns 844 shares of the financial services provider’s stock worth $31,000 after buying an additional 594 shares during the period. GAMMA Investing LLC raised its stake in United Bankshares by 253.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,545 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 1,108 shares during the last quarter. Innealta Capital LLC bought a new stake in United Bankshares in the 2nd quarter valued at $116,000. Marathon Strategic Advisors LLC acquired a new stake in United Bankshares in the 3rd quarter worth $206,000. Finally, Quest Partners LLC increased its holdings in shares of United Bankshares by 377.2% during the 3rd 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 during the period. Institutional investors own 70.80% of the company’s stock.

Wall Street Analyst Weigh In

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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $40.25.

Insider Transactions at United Bankshares

In related news, Director Peter A. Converse sold 5,000 shares of the 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 owns 434,769 shares in the company, valued at $17,390,760. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director J Paul Mcnamara sold 2,500 shares of United Bankshares stock in a transaction dated 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 $2,717,709.74. This represents a 3.79 % 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 insiders.

United Bankshares Stock Down 0.5 %

UBSI opened at $42.27 on Monday. The company has a market capitalization of $5.72 billion, a P/E ratio of 16.01 and a beta of 0.98. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.96. The firm’s fifty day moving average price is $38.95 and its two-hundred day moving average price is $36.34. United Bankshares, Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $44.43.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.70 earnings per share 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 business 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 business earned $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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.48 annualized dividend and a dividend yield of 3.50%. United Bankshares’s dividend payout ratio is currently 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.