Earnest Partners LLC grew its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 46.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,158,093 shares of the financial services provider’s stock after buying an additional 689,187 shares during the period. Earnest Partners LLC’s holdings in United Bankshares were worth $74,994,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of United Bankshares by 42.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,765 shares of the financial services provider’s stock valued at $200,000 after buying an additional 1,712 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of United Bankshares during the 3rd quarter valued at $216,000. Engineers Gate Manager LP purchased a new position in shares of United Bankshares during the 3rd quarter valued at $241,000. Virtu Financial LLC purchased a new position in shares of United Bankshares during the 4th quarter valued at $264,000. Finally, OppenheimerFunds Inc. lifted its position in shares of United Bankshares by 23.1% during the 4th quarter. OppenheimerFunds Inc. now owns 8,206 shares of the financial services provider’s stock valued at $285,000 after buying an additional 1,542 shares during the last quarter. 69.81% of the stock is currently owned by hedge funds and other institutional investors.
UBSI has been the topic of a number of recent research reports. TheStreet raised United Bankshares from a “c+” rating to a “b-” rating in a research report on Wednesday, February 21st. BidaskClub raised United Bankshares from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. Zacks Investment Research cut United Bankshares from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Finally, Sandler O’Neill set a $38.00 price target on United Bankshares and gave the company a “hold” rating in a research report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. United Bankshares currently has an average rating of “Hold” and an average price target of $41.33.
United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. United Bankshares had a return on equity of 6.28% and a net margin of 19.93%. The company had revenue of $187.62 million for the quarter, compared to analyst estimates of $182.94 million. During the same period in the previous year, the company posted $0.51 EPS. research analysts anticipate that United Bankshares, Inc. will post 2.49 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, March 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.64%. United Bankshares’s payout ratio is 87.18%.
In related news, Director Peter A. Converse sold 69,020 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $37.03, for a total transaction of $2,555,810.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter A. Converse sold 22,500 shares of the business’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $37.74, for a total value of $849,150.00. Following the sale, the director now owns 491,810 shares in the company, valued at $18,560,909.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 118,520 shares of company stock worth $4,405,311. 6.23% of the stock is currently owned by corporate insiders.
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About United Bankshares
United Bankshares, Inc (United) is a bank holding company. The Company operates through community banking segment. United’s Banking Subsidiaries offer a range of commercial and retail banking services and products. United, through its subsidiaries, engages in community banking and offers banking products and services permitted by law and regulation.
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