Mutual of America Capital Management LLC Cuts Stake in United Bankshares, Inc. (NASDAQ:UBSI)

Mutual of America Capital Management LLC lessened its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 5.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 72,908 shares of the financial services provider’s stock after selling 4,313 shares during the period. Mutual of America Capital Management LLC owned about 0.05% of United Bankshares worth $2,705,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. UMB Bank n.a. increased its stake in shares of United Bankshares by 237.6% during the 3rd quarter. UMB Bank n.a. now owns 844 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 594 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of United Bankshares by 253.5% in the second quarter. GAMMA Investing LLC now owns 1,545 shares of the financial services provider’s stock valued at $50,000 after buying an additional 1,108 shares during the period. New Covenant Trust Company N.A. purchased a new position in shares of United Bankshares during the 1st quarter valued at $79,000. Innealta Capital LLC bought a new position in shares of United Bankshares during the 2nd quarter worth $116,000. Finally, Marathon Strategic Advisors LLC purchased a new stake in United Bankshares in the 3rd quarter worth about $206,000. Institutional investors own 70.80% of the company’s stock.

Wall Street Analyst Weigh In

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

United Bankshares Price Performance

Shares of NASDAQ UBSI opened at $42.81 on Friday. 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, Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $43.77. The stock has a market cap of $5.79 billion, a PE ratio of 16.22 and a beta of 0.98. The stock has a fifty day moving average of $38.46 and a 200-day moving average of $36.05.

United Bankshares (NASDAQ:UBSI) last announced its quarterly 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 return on equity of 7.58% and a net margin of 22.05%. The firm had revenue of $414.67 million for the quarter, compared to analysts’ expectations of $260.30 million. During the same period in the prior year, the business posted $0.71 earnings per share. Equities research analysts anticipate that United Bankshares, Inc. will post 2.73 earnings per share for the current year.

United Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.46%. The ex-dividend date is Friday, December 13th. United Bankshares’s payout ratio is 56.06%.

Insider Activity

In related news, Director Peter A. Converse sold 5,000 shares of United Bankshares stock in a transaction on Wednesday, November 6th. The stock was 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 of the company’s stock, valued at approximately $17,390,760. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.