Connable Office Inc. Has $558,000 Stake in United Bankshares, Inc. (NASDAQ:UBSI)

Connable Office Inc. reduced its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 3.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,049 shares of the financial services provider’s stock after selling 601 shares during the period. Connable Office Inc.’s holdings in United Bankshares were worth $558,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of UBSI. Inspire Investing LLC raised its position in shares of United Bankshares by 2.7% in the 3rd quarter. Inspire Investing LLC now owns 11,095 shares of the financial services provider’s stock valued at $412,000 after acquiring an additional 291 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in United Bankshares by 5.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,587 shares of the financial services provider’s stock worth $214,000 after purchasing an additional 350 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of United Bankshares by 4.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,367 shares of the financial services provider’s stock worth $401,000 after purchasing an additional 479 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of United Bankshares by 34.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,079 shares of the financial services provider’s stock valued at $77,000 after buying an additional 534 shares during the period. Finally, UMB Bank n.a. grew its holdings in shares of United Bankshares by 237.6% in the 3rd quarter. UMB Bank n.a. now owns 844 shares of the financial services provider’s stock valued at $31,000 after buying an additional 594 shares during the period. 70.80% of the stock is owned by institutional investors.

United Bankshares Stock Down 0.6 %

UBSI stock opened at $42.30 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $5.72 billion, a P/E ratio of 16.02 and a beta of 0.98. United Bankshares, Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $43.77. The business has a 50-day moving average of $37.81 and a 200-day moving average of $35.67.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.70 earnings per share 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 firm had revenue of $414.67 million during the quarter, compared to the consensus estimate of $260.30 million. During the same quarter in the prior year, the firm posted $0.71 EPS. On average, sell-side analysts anticipate that United Bankshares, Inc. will post 2.73 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, December 13th. This represents a $1.48 annualized dividend and a yield of 3.50%. United Bankshares’s dividend payout ratio (DPR) is presently 56.06%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on UBSI. Stephens lifted their target price on United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. StockNews.com upgraded United Bankshares from a “sell” rating to a “hold” rating in a research report on Wednesday. Keefe, Bruyette & Woods increased their target price on United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Finally, DA Davidson lifted their price target on shares of United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. 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 currently has a consensus rating of “Hold” and a consensus price target of $40.25.

Insider Transactions at United Bankshares

In related news, Director Peter A. Converse sold 5,000 shares of United Bankshares stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $40.00, for a total value of $200,000.00. Following the sale, the director now owns 434,769 shares of the company’s stock, valued at approximately $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 can be accessed 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.