Versor Investments LP Purchases New Shares in United Bankshares, Inc. (NASDAQ:UBSI)

Versor Investments LP purchased a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,600 shares of the financial services provider’s stock, valued at approximately $393,000.

Other large investors also recently made changes to their positions in the company. UMB Bank n.a. lifted its position in shares of United Bankshares by 237.6% during the third 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 in the last quarter. GAMMA Investing LLC increased its holdings in United Bankshares by 253.5% during the second 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 last quarter. New Covenant Trust Company N.A. purchased a new stake in United Bankshares during the first quarter worth about $79,000. Innealta Capital LLC purchased a new stake in United Bankshares during the second quarter worth about $116,000. Finally, Marathon Strategic Advisors LLC purchased a new stake in United Bankshares during the third quarter worth about $206,000. 70.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on UBSI shares. Keefe, Bruyette & Woods raised their price objective on shares of United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Stephens raised their price objective 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. StockNews.com upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, DA Davidson raised their price objective on shares of 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 issued a buy rating to the stock. According to MarketBeat.com, United Bankshares currently has an average rating of “Hold” and a consensus target price of $40.25.

Insider Activity at United Bankshares

In related news, Director Peter A. Converse sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $40.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.66% of the stock is owned by corporate insiders.

United Bankshares Price Performance

UBSI opened at $42.30 on Friday. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 16.02 and a beta of 0.98. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average price of $37.81 and a 200-day moving average price of $35.67. United Bankshares, Inc. has a twelve month low of $30.68 and a twelve month high of $43.77.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.03. The firm had revenue of $414.67 million during 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 quarter last year, the company earned $0.71 earnings per share. Equities analysts expect that United Bankshares, Inc. will post 2.73 EPS for the current year.

United Bankshares Dividend Announcement

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 $0.37 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.48 annualized dividend and a dividend yield of 3.50%. United Bankshares’s payout ratio is 56.06%.

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.