Northstar Asset Management LLC Increases Stock Position in United Bankshares, Inc. (NASDAQ:UBSI)

Northstar Asset Management LLC raised its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,847 shares of the financial services provider’s stock after purchasing an additional 589 shares during the quarter. Northstar Asset Management LLC’s holdings in United Bankshares were worth $676,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of UBSI. Nuveen Asset Management LLC acquired a new position in United Bankshares in the second quarter valued at $15,301,000. JPMorgan Chase & Co. increased its stake in United Bankshares by 46.5% in the second quarter. JPMorgan Chase & Co. now owns 956,448 shares of the financial services provider’s stock valued at $35,197,000 after purchasing an additional 303,402 shares during the period. Great Lakes Advisors LLC acquired a new position in United Bankshares in the second quarter valued at $5,917,000. Cerebellum GP LLC acquired a new position in United Bankshares in the third quarter valued at $3,320,000. Finally, Balyasny Asset Management LLC acquired a new position in United Bankshares in the second quarter valued at $2,952,000. Institutional investors own 70.15% of the company’s stock.

In other news, Director Mary K. Weddle purchased 2,300 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of $35.19 per share, for a total transaction of $80,937.00. Following the completion of the purchase, the director now directly owns 11,776 shares in the company, valued at approximately $414,397.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.62% of the company’s stock.

Shares of United Bankshares stock traded up $0.17 on Friday, reaching $38.49. 203,520 shares of the stock were exchanged, compared to its average volume of 390,881. United Bankshares, Inc. has a 1-year low of $29.13 and a 1-year high of $39.98. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.53. The business has a fifty day moving average price of $37.80 and a two-hundred day moving average price of $37.33. The firm has a market capitalization of $3.90 billion, a PE ratio of 15.71 and a beta of 1.23.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. United Bankshares had a net margin of 29.01% and a return on equity of 7.90%. The business had revenue of $190.35 million for the quarter, compared to analyst estimates of $183.29 million. During the same period in the previous year, the business posted $0.63 earnings per share. Research analysts expect that United Bankshares, Inc. will post 2.53 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, September 12th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.53%. United Bankshares’s dividend payout ratio (DPR) is 55.51%.

UBSI has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a research note on Friday. ValuEngine lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, BidaskClub lowered shares of United Bankshares from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th.

United Bankshares Profile

United Bankshares, Inc, a financial holding company, 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.

Further Reading: Understanding Market Liquidity

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Institutional Ownership by Quarter for United Bankshares (NASDAQ:UBSI)

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