Brown Brothers Harriman & Co. Increases Position in United Bankshares, Inc. (NASDAQ:UBSI)

Brown Brothers Harriman & Co. grew its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 40.9% during the third quarter, HoldingsChannel reports. The fund owned 7,941 shares of the financial services provider’s stock after acquiring an additional 2,307 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in United Bankshares were worth $295,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in UBSI. Inspire Investing LLC boosted its position in shares of United Bankshares by 2.7% in the 3rd quarter. Inspire Investing LLC now owns 11,095 shares of the financial services provider’s stock worth $412,000 after purchasing an additional 291 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of United Bankshares by 5.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,587 shares of the financial services provider’s stock worth $214,000 after purchasing an additional 350 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of United Bankshares by 3.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 12,328 shares of the financial services provider’s stock worth $457,000 after purchasing an additional 427 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position 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 worth $401,000 after purchasing an additional 479 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of United Bankshares by 34.6% in the 3rd 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 in the last quarter. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

United Bankshares Stock Performance

Shares of UBSI opened at $42.49 on Thursday. The stock has a 50-day moving average of $38.68 and a two-hundred day moving average of $36.18. United Bankshares, Inc. has a one year low of $30.68 and a one year high of $44.43. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.97. The stock has a market cap of $5.75 billion, a P/E ratio of 16.09 and a beta of 0.98.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.03. The business had revenue of $414.67 million during 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 quarter in the previous year, the firm posted $0.71 EPS. As a group, research analysts predict that United Bankshares, Inc. will post 2.73 EPS for the current year.

United Bankshares Dividend Announcement

The business 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 $0.37 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.48 annualized dividend and a dividend yield of 3.48%. United Bankshares’s dividend payout ratio (DPR) is presently 56.06%.

Insider Activity

In other news, Director J Paul Mcnamara sold 2,500 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.86, for a total value of $107,150.00. Following the completion of the transaction, the director now owns 63,409 shares of the company’s stock, valued at $2,717,709.74. The trade was a 3.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Peter A. Converse sold 5,000 shares of United Bankshares 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 approximately $17,390,760. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised United Bankshares from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $40.25.

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.