Zurcher Kantonalbank Zurich Cantonalbank Buys 1,197 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 4.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 29,166 shares of the financial services provider’s stock after acquiring an additional 1,197 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in United Bankshares were worth $1,082,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets raised its position in shares of 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 valued at $1,890,000 after buying an additional 21,520 shares in the last quarter. FMR LLC raised its position in United Bankshares by 292.0% during the third quarter. FMR LLC now owns 82,997 shares of the financial services provider’s stock valued at $3,079,000 after purchasing an additional 61,822 shares in the last quarter. Advantage Alpha Capital Partners LP lifted its stake in United Bankshares by 40.6% during the third quarter. Advantage Alpha Capital Partners LP now owns 13,690 shares of the financial services provider’s stock worth $508,000 after purchasing an additional 3,952 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of United Bankshares by 40.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 7,941 shares of the financial services provider’s stock valued at $295,000 after purchasing an additional 2,307 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of United Bankshares in the 3rd quarter valued at $268,000. 70.80% of the stock is currently owned by institutional investors and hedge funds.

United Bankshares Stock Performance

NASDAQ UBSI opened at $41.60 on Friday. United Bankshares, Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $44.43. The stock has a market cap of $5.63 billion, a PE ratio of 15.76 and a beta of 1.01. 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 firm’s fifty day moving average price is $39.33 and its two-hundred day moving average price is $36.52.

United Bankshares (NASDAQ:UBSI) last issued 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 business had revenue of $414.67 million during the quarter, compared to analysts’ expectations of $260.30 million. During the same quarter in the prior year, the firm earned $0.71 EPS. On average, equities analysts expect that United Bankshares, Inc. will post 2.73 EPS for the current fiscal year.

United Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, December 13th. This represents a $1.48 annualized dividend and a yield of 3.56%. United Bankshares’s dividend payout ratio is presently 56.06%.

Insiders Place Their Bets

In related news, Director Peter A. Converse sold 5,000 shares of United Bankshares stock in a transaction that occurred 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 of the company’s stock, valued at $17,390,760. The trade was a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J Paul Mcnamara sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $42.86, for a total value of $107,150.00. Following the completion of the sale, the director now owns 63,409 shares in the company, valued at $2,717,709.74. The trade was a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.66% of the company’s stock.

Wall Street Analyst Weigh In

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

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.