13,346 Shares in United Bankshares, Inc. (NASDAQ:UBSI) Acquired by RIA Advisory Group LLC

RIA Advisory Group LLC bought a new position in United Bankshares, Inc. (NASDAQ:UBSI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,346 shares of the financial services provider’s stock, valued at approximately $495,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of UBSI. UMB Bank n.a. grew its holdings in United Bankshares by 237.6% in the third 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 period. GAMMA Investing LLC raised its stake in 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 buying an additional 1,108 shares during the period. New Covenant Trust Company N.A. bought a new position in United Bankshares in the first quarter worth approximately $79,000. Innealta Capital LLC acquired a new stake in United Bankshares in the second quarter valued at approximately $116,000. Finally, Marathon Strategic Advisors LLC bought a new stake in shares of United Bankshares during the third quarter valued at approximately $206,000. 70.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Peter A. Converse sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $40.00, for a total value of $200,000.00. Following the transaction, the director now owns 434,769 shares in the company, valued at approximately $17,390,760. This represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.66% of the stock is owned by insiders.

United Bankshares Stock Down 0.2 %

United Bankshares stock opened at $42.22 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $5.71 billion, a PE ratio of 15.99 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 firm’s 50-day simple moving average is $37.92 and its 200 day simple moving average is $35.74.

United Bankshares (NASDAQ:UBSI) last announced its 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. The firm had revenue of $414.67 million for the quarter, compared to the consensus estimate of $260.30 million. United Bankshares had a return on equity of 7.58% and a net margin of 22.05%. During the same quarter in the previous year, the business earned $0.71 EPS. Research analysts predict that United Bankshares, Inc. will post 2.73 EPS for the current fiscal year.

United Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Friday, December 13th. United Bankshares’s payout ratio is 56.06%.

Analyst Upgrades and Downgrades

UBSI has been the topic of a number of recent research reports. StockNews.com upgraded United Bankshares from a “sell” rating to a “hold” rating in a report on Wednesday. Keefe, Bruyette & Woods lifted their price objective on shares of United Bankshares from $38.00 to $40.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Stephens upped their target price on shares of United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Finally, DA Davidson boosted their price objective on United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $40.25.

About United Bankshares

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.