United Bankshares, Inc. (NASDAQ:UBSI) Director Mark R. Nesselroad Sells 6,000 Shares

United Bankshares, Inc. (NASDAQ:UBSIGet Free Report) Director Mark R. Nesselroad sold 6,000 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $39.16, for a total transaction of $234,960.00. Following the sale, the director now owns 35,424 shares of the company’s stock, valued at approximately $1,387,203.84. This represents a 14.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

United Bankshares Stock Performance

Shares of United Bankshares stock traded up $0.34 on Thursday, reaching $38.10. 75,868 shares of the stock were exchanged, compared to its average volume of 520,587. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $5.15 billion, a PE ratio of 14.43 and a beta of 1.01. United Bankshares, Inc. has a 1-year low of $30.68 and a 1-year high of $44.43. The business has a fifty day moving average price of $40.14 and a two-hundred day moving average price of $37.05.

United Bankshares (NASDAQ:UBSIGet Free Report) 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 the consensus estimate of $260.30 million. During the same period in the prior year, the business posted $0.71 EPS. As a group, research analysts anticipate that United Bankshares, Inc. will post 2.73 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The business also recently announced 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 of this dividend is Friday, December 13th. This represents a $1.48 annualized dividend and a dividend yield of 3.88%. United Bankshares’s payout ratio is currently 56.06%.

Analyst Ratings Changes

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

Get Our Latest Report on UBSI

Hedge Funds Weigh In On United Bankshares

Large investors have recently made changes to their positions in the stock. Jane Street Group LLC grew its position in United Bankshares by 27.2% during the third quarter. Jane Street Group LLC now owns 161,489 shares of the financial services provider’s stock worth $5,991,000 after buying an additional 34,526 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of United Bankshares by 5.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,673,056 shares of the financial services provider’s stock worth $62,070,000 after acquiring an additional 83,503 shares in the last quarter. BNP Paribas Financial Markets grew its holdings 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 worth $1,890,000 after acquiring an additional 21,520 shares during the period. Daiwa Securities Group Inc. increased 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 valued at $457,000 after purchasing an additional 427 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in United Bankshares by 10.0% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 468,851 shares of the financial services provider’s stock valued at $17,394,000 after purchasing an additional 42,689 shares in the last quarter. Hedge funds and other institutional investors own 70.80% of the company’s stock.

About United Bankshares

(Get Free Report)

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.

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