Holocene Advisors LP Raises Stock Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Holocene Advisors LP boosted its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 47.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,450 shares of the financial services provider’s stock after acquiring an additional 15,282 shares during the quarter. Holocene Advisors LP’s holdings in United Bankshares were worth $1,760,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of UBSI. SG Americas Securities LLC boosted its stake in shares of United Bankshares by 218.2% during the second quarter. SG Americas Securities LLC now owns 29,676 shares of the financial services provider’s stock valued at $963,000 after purchasing an additional 20,350 shares during the period. Charles Schwab Investment Management Inc. boosted its position in United Bankshares by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,673,056 shares of the financial services provider’s stock valued at $62,070,000 after buying an additional 83,503 shares during the period. Daiwa Securities Group Inc. grew its stake in United Bankshares by 3.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 12,328 shares of the financial services provider’s stock worth $457,000 after acquiring an additional 427 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of United Bankshares by 10.0% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 468,851 shares of the financial services provider’s stock worth $17,394,000 after acquiring an additional 42,689 shares during the period. Finally, RIA Advisory Group LLC purchased a new position in shares of United Bankshares during the third quarter worth approximately $495,000. Institutional investors own 70.80% of the company’s stock.

Insider Buying and Selling

In other United Bankshares news, Director Peter A. Converse sold 5,000 shares of United Bankshares 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 transaction, the director now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J Paul Mcnamara sold 2,500 shares of the stock in a transaction 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 sale, the director now owns 63,409 shares of the company’s stock, valued at approximately $2,717,709.74. This represents a 3.79 % decrease in their position. The disclosure for this sale can be found here. 3.66% of the stock is currently owned by company insiders.

United Bankshares Trading Up 0.2 %

NASDAQ UBSI opened at $41.69 on Friday. United Bankshares, Inc. has a one year low of $30.68 and a one year high of $44.43. 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 company has a market capitalization of $5.64 billion, a price-to-earnings ratio of 15.79 and a beta of 1.01. The company’s 50-day simple moving average is $39.43 and its two-hundred day simple moving average is $36.58.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. The firm had revenue of $414.67 million for the quarter, compared to the consensus estimate of $260.30 million. United Bankshares had a net margin of 22.05% and a return on equity of 7.58%. During the same period last year, the firm earned $0.71 earnings per share. Equities analysts forecast that United Bankshares, Inc. will post 2.73 EPS for the current fiscal year.

United Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend is Friday, December 13th. United Bankshares’s payout ratio is 56.06%.

Analyst Ratings Changes

Separately, StockNews.com raised 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 given a buy rating to the company’s stock. According to data from MarketBeat, United Bankshares currently has an average rating of “Hold” and a consensus price target of $40.25.

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.