Citadel Advisors LLC lowered its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 30.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 358,303 shares of the financial services provider’s stock after selling 154,974 shares during the period. Citadel Advisors LLC owned approximately 0.34% of United Bankshares worth $12,451,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Viking Fund Management LLC lifted its holdings in shares of United Bankshares by 7.7% in the third quarter. Viking Fund Management LLC now owns 84,000 shares of the financial services provider’s stock valued at $3,121,000 after purchasing an additional 6,000 shares in the last quarter. Wesbanco Bank Inc. lifted its holdings in shares of United Bankshares by 2.2% in the third quarter. Wesbanco Bank Inc. now owns 178,728 shares of the financial services provider’s stock valued at $6,640,000 after purchasing an additional 3,850 shares in the last quarter. Janney Capital Management LLC purchased a new stake in shares of United Bankshares in the third quarter valued at $481,000. Nuance Investments LLC purchased a new stake in shares of United Bankshares in the third quarter valued at $3,686,000. Finally, California Public Employees Retirement System lifted its holdings in shares of United Bankshares by 7.8% in the third quarter. California Public Employees Retirement System now owns 177,029 shares of the financial services provider’s stock valued at $6,577,000 after purchasing an additional 12,815 shares in the last quarter. Institutional investors own 69.81% of the company’s stock.
United Bankshares, Inc. (NASDAQ UBSI) traded down $0.25 during midday trading on Wednesday, hitting $36.95. 636,225 shares of the stock were exchanged, compared to its average volume of 710,917. United Bankshares, Inc. has a 1-year low of $31.70 and a 1-year high of $44.63. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.04 and a quick ratio of 1.02. The firm has a market capitalization of $3,928.56, a P/E ratio of 19.48, a PEG ratio of 1.88 and a beta of 1.05.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Thursday, March 8th. United Bankshares’s payout ratio is 87.18%.
A number of research firms have recently weighed in on UBSI. TheStreet raised shares of United Bankshares from a “c+” rating to a “b-” rating in a research note on Wednesday, February 21st. BidaskClub raised shares of United Bankshares from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. Zacks Investment Research downgraded shares of United Bankshares from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Finally, Sandler O’Neill set a $38.00 price target on shares of United Bankshares and gave the stock a “hold” rating in a research note on Thursday, January 4th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. United Bankshares presently has an average rating of “Hold” and an average target price of $41.33.
In other United Bankshares news, Director Peter A. Converse sold 69,020 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $37.03, for a total transaction of $2,555,810.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Peter A. Converse sold 22,500 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $37.74, for a total transaction of $849,150.00. Following the transaction, the director now directly owns 491,810 shares in the company, valued at $18,560,909.40. The disclosure for this sale can be found here. Insiders have sold 118,520 shares of company stock worth $4,405,311 over the last three months. Company insiders own 6.23% of the company’s stock.
United Bankshares Company Profile
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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