United Bankshares, Inc. (NASDAQ:UBSI) Increases Dividend to $0.38 Per Share

United Bankshares, Inc. (NASDAQ:UBSI) announced a quarterly dividend on Thursday, November 20th. Investors of record on Friday, December 12th will be given a dividend of 0.38 per share by the financial services provider on Friday, January 2nd. This represents a c) dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Friday, December 12th. This is a 2.7% increase from United Bankshares’s previous quarterly dividend of $0.37.

United Bankshares has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 26 consecutive years. United Bankshares has a dividend payout ratio of 46.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect United Bankshares to earn $3.08 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 48.1%.

United Bankshares Trading Up 3.0%

Shares of UBSI stock traded up $1.09 on Friday, reaching $36.85. The company had a trading volume of 166,725 shares, compared to its average volume of 749,941. The stock has a market cap of $5.17 billion, a PE ratio of 12.08 and a beta of 0.83. The company has a 50-day moving average of $36.47 and a 200-day moving average of $36.68. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.10. United Bankshares has a 12 month low of $30.50 and a 12 month high of $44.43.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.10. The firm had revenue of $280.90 million during the quarter, compared to analysts’ expectations of $307.78 million. United Bankshares had a net margin of 24.37% and a return on equity of 8.15%. During the same quarter in the previous year, the company earned $0.70 earnings per share. On average, equities analysts forecast that United Bankshares will post 2.81 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp lifted its stake in United Bankshares by 2.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 12,266 shares of the financial services provider’s stock valued at $458,000 after acquiring an additional 343 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of United Bankshares by 13.9% in the third quarter. GAMMA Investing LLC now owns 2,844 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 347 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of United Bankshares by 14.9% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,699 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 351 shares in the last quarter. Lynx Investment Advisory boosted its holdings in United Bankshares by 3.5% during the second quarter. Lynx Investment Advisory now owns 10,670 shares of the financial services provider’s stock worth $389,000 after purchasing an additional 356 shares during the last quarter. Finally, Braun Bostich & Associates Inc. grew its position in United Bankshares by 4.4% in the third quarter. Braun Bostich & Associates Inc. now owns 9,256 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 387 shares in the last quarter. 70.80% of the stock is currently owned by institutional investors.

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.