12,839 Shares in United Bankshares, Inc. (NASDAQ:UBSI) Purchased by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc bought a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 12,839 shares of the financial services provider’s stock, valued at approximately $476,000.

A number of other hedge funds also recently modified their holdings of UBSI. Inspire Investing LLC raised its holdings in shares of United Bankshares by 2.7% during the 3rd quarter. Inspire Investing LLC now owns 11,095 shares of the financial services provider’s stock valued at $412,000 after purchasing an additional 291 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings 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 acquiring an additional 350 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of United Bankshares by 4.0% in the 2nd 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 in the last quarter. GAMMA Investing LLC boosted its position in United Bankshares by 34.6% during the third quarter. GAMMA Investing LLC now owns 2,079 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 534 shares during the period. Finally, UMB Bank n.a. boosted its position in United Bankshares by 237.6% during 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. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Insider Activity

In related news, Director Peter A. Converse sold 5,000 shares of the 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 completion of the transaction, the director now owns 434,769 shares of the company’s stock, valued at $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 SEC, which is available at this hyperlink. 3.66% of the stock is owned by company insiders.

United Bankshares Stock Down 0.6 %

UBSI stock opened at $42.30 on Friday. The business’s 50-day simple moving average is $37.81 and its 200 day simple moving average is $35.67. 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 company has a market cap of $5.72 billion, a PE ratio of 16.02 and a beta of 0.98. United Bankshares, Inc. has a twelve month low of $30.68 and a twelve month high of $43.77.

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

United Bankshares Announces Dividend

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

Analysts Set New Price Targets

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

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.