Ontario Teachers Pension Plan Board Cuts Position in United Bankshares, Inc. (NASDAQ:UBSI)

Ontario Teachers Pension Plan Board trimmed its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 16.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 12,911 shares of the financial services provider’s stock after selling 2,581 shares during the period. Ontario Teachers Pension Plan Board’s holdings in United Bankshares were worth $479,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Inspire Investing LLC grew its stake in shares of United Bankshares by 2.7% in the third quarter. Inspire Investing LLC now owns 11,095 shares of the financial services provider’s stock worth $412,000 after acquiring an additional 291 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in shares of United Bankshares by 5.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,587 shares of the financial services provider’s stock valued at $214,000 after buying an additional 350 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in 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 valued at $401,000 after acquiring an additional 479 shares during the period. GAMMA Investing LLC lifted its position in shares of United Bankshares by 34.6% in the third quarter. GAMMA Investing LLC now owns 2,079 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 534 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of 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 acquiring an additional 594 shares during the period. 70.80% of the stock is owned by institutional investors.

Insider Activity

In other United Bankshares news, Director Peter A. Converse sold 5,000 shares of the 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 completion of the sale, the director now directly owns 434,769 shares in the company, valued at approximately $17,390,760. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.66% of the company’s stock.

United Bankshares Stock Up 0.8 %

NASDAQ UBSI opened at $41.74 on Friday. United Bankshares, Inc. has a 52 week low of $30.68 and a 52 week high of $43.77. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 15.81 and a beta of 0.98. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average of $38.34 and a two-hundred day moving average of $35.97.

United Bankshares (NASDAQ:UBSI) last posted 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. United Bankshares had a return on equity of 7.58% and a net margin of 22.05%. The company had revenue of $414.67 million during the quarter, compared to analysts’ expectations of $260.30 million. During the same quarter in the previous year, the business earned $0.71 EPS. On average, analysts predict that United Bankshares, Inc. will post 2.73 earnings per share for the current year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.37 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.48 annualized dividend and a yield of 3.55%. United Bankshares’s dividend payout ratio (DPR) is currently 56.06%.

Wall Street Analyst Weigh In

UBSI has been the subject of several recent analyst reports. DA Davidson upped their price target on United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Stephens raised their target price on shares of United Bankshares from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. StockNews.com upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, Keefe, Bruyette & Woods raised their price objective on United Bankshares from $38.00 to $40.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $40.25.

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.