Assenagon Asset Management S.A. Invests $7.38 Million in United Bankshares, Inc. (NASDAQ:UBSI)

Assenagon Asset Management S.A. bought a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 196,623 shares of the financial services provider’s stock, valued at approximately $7,383,000. Assenagon Asset Management S.A. owned approximately 0.15% of United Bankshares at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. UMB Bank n.a. boosted its holdings in shares of United Bankshares by 237.6% during the 3rd quarter. UMB Bank n.a. now owns 844 shares of the financial services provider’s stock worth $31,000 after buying an additional 594 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of United Bankshares by 34.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,079 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 534 shares during the period. Marathon Strategic Advisors LLC bought a new position in United Bankshares during the third quarter worth $206,000. Quest Partners LLC grew its holdings in United Bankshares by 377.2% in the third quarter. Quest Partners LLC now owns 5,641 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 4,459 shares during the period. Finally, Centiva Capital LP acquired a new stake in United Bankshares in the third quarter worth $213,000. Institutional investors and hedge funds own 70.80% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised United Bankshares from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th.

United Bankshares Stock Performance

Shares of UBSI stock opened at $38.53 on Monday. United Bankshares, Inc. has a 52 week low of $30.68 and a 52 week high of $44.43. The firm’s 50-day simple moving average is $39.91 and its two-hundred day simple moving average is $37.99. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of 14.59 and a beta of 1.03. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.97.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.03. The firm had revenue of $414.67 million during the quarter, compared to the consensus estimate 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 company earned $0.71 earnings per share. As a group, equities analysts forecast that United Bankshares, Inc. will post 2.73 earnings per share for the current year.

United Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend was Friday, December 13th. United Bankshares’s dividend payout ratio is 56.06%.

Insider Buying and Selling

In other United Bankshares news, Director Mark R. Nesselroad sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $39.16, for a total transaction of $234,960.00. Following the sale, the director now owns 35,424 shares in the company, valued at $1,387,203.84. This trade represents a 14.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director J Paul Mcnamara sold 2,500 shares of the company’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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,500 shares of company stock worth $542,110 over the last ninety days. 3.66% of the stock is owned by corporate insiders.

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.