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

Connable Office Inc. lowered its position in United Bankshares, Inc. (NASDAQ:UBSI) by 3.8% in the third quarter, HoldingsChannel.com reports. The fund owned 15,049 shares of the financial services provider’s stock after selling 601 shares during the quarter. Connable Office Inc.’s holdings in United Bankshares were worth $558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of UBSI. UMB Bank n.a. lifted its stake in 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 purchasing an additional 594 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of United Bankshares by 253.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,545 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 1,108 shares during the period. New Covenant Trust Company N.A. acquired a new position in shares of United Bankshares during the 1st quarter worth approximately $79,000. Innealta Capital LLC acquired a new position in shares of United Bankshares during the 2nd quarter worth approximately $116,000. Finally, Marathon Strategic Advisors LLC bought a new stake in United Bankshares in the 3rd quarter valued at $206,000. Institutional investors own 70.80% of the company’s stock.

United Bankshares Trading Down 0.6 %

UBSI stock opened at $42.30 on Friday. United Bankshares, Inc. has a 52 week low of $30.68 and a 52 week high of $43.77. The company has a market capitalization of $5.72 billion, a PE ratio of 16.02 and a beta of 0.98. The company’s 50-day simple moving average is $37.81 and its 200 day simple moving average is $35.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.97 and a current ratio of 0.97.

United Bankshares (NASDAQ:UBSI) last announced 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 net margin of 22.05% and a return on equity of 7.58%. The firm had revenue of $414.67 million for the quarter, compared to analyst estimates of $260.30 million. During the same quarter in the prior year, the business posted $0.71 EPS. As a group, sell-side analysts anticipate that United Bankshares, Inc. will post 2.73 earnings per share for the current year.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.48 dividend on an annualized basis and a yield of 3.50%. United Bankshares’s dividend payout ratio (DPR) is presently 56.06%.

Analyst Upgrades and Downgrades

A number of research firms have commented on UBSI. StockNews.com raised shares of United Bankshares from a “sell” rating to a “hold” rating in a research report on Wednesday. Keefe, Bruyette & Woods upped their price target on shares of United Bankshares from $38.00 to $40.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. DA Davidson increased their price target on shares of United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, Stephens boosted their price objective on United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.25.

Insider Buying and Selling at United Bankshares

In other United Bankshares news, Director Peter A. Converse sold 5,000 shares of the firm’s stock in a transaction dated 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 $17,390,760. This trade represents a 1.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.66% of the company’s stock.

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.