Charles Schwab Investment Management Inc. Buys 83,503 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Charles Schwab Investment Management Inc. grew its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 5.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,673,056 shares of the financial services provider’s stock after acquiring an additional 83,503 shares during the period. Charles Schwab Investment Management Inc. owned about 1.24% of United Bankshares worth $62,070,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. SG Americas Securities LLC grew its position in shares of United Bankshares by 218.2% in the second quarter. SG Americas Securities LLC now owns 29,676 shares of the financial services provider’s stock valued at $963,000 after purchasing an additional 20,350 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in United Bankshares by 10.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 468,851 shares of the financial services provider’s stock valued at $17,394,000 after buying an additional 42,689 shares in the last quarter. RIA Advisory Group LLC bought a new stake in shares of United Bankshares during the third quarter valued at about $495,000. Earnest Partners LLC lifted its holdings in shares of United Bankshares by 1.8% in the second quarter. Earnest Partners LLC now owns 4,253,797 shares of the financial services provider’s stock worth $137,993,000 after buying an additional 74,638 shares in the last quarter. Finally, Natixis Advisors LLC boosted its position in shares of United Bankshares by 21.0% in the third quarter. Natixis Advisors LLC now owns 336,029 shares of the financial services provider’s stock valued at $12,466,000 after acquiring an additional 58,274 shares during the period. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $40.25.

Insider Transactions at United Bankshares

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 directly owns 434,769 shares in the company, valued at $17,390,760. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $107,150.00. Following the sale, the director now directly owns 63,409 shares in the company, valued at $2,717,709.74. The trade was a 3.79 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.66% of the company’s stock.

United Bankshares Price Performance

Shares of NASDAQ:UBSI opened at $42.27 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The stock has a market cap of $5.72 billion, a PE ratio of 16.01 and a beta of 0.98. The company’s fifty day moving average is $38.86 and its 200 day moving average is $36.27. United Bankshares, Inc. has a 52 week low of $30.68 and a 52 week high of $44.43.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. The business had revenue of $414.67 million for the quarter, compared to analyst estimates of $260.30 million. United Bankshares had a net margin of 22.05% and a return on equity of 7.58%. During the same quarter last year, the firm earned $0.71 EPS. Research analysts anticipate that United Bankshares, Inc. will post 2.73 earnings per share for the current year.

United Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid 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 is Friday, December 13th. United Bankshares’s payout ratio is 56.06%.

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.