Brown Brothers Harriman & Co. Buys 2,307 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Brown Brothers Harriman & Co. raised its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 40.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,941 shares of the financial services provider’s stock after purchasing an additional 2,307 shares during the period. Brown Brothers Harriman & Co.’s holdings in United Bankshares were worth $295,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the business. UMB Bank n.a. raised its position in United Bankshares by 237.6% during the third quarter. UMB Bank n.a. now owns 844 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 594 shares during the period. GAMMA Investing LLC raised its holdings in United Bankshares by 253.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,545 shares of the financial services provider’s stock valued at $50,000 after buying an additional 1,108 shares during the period. Innealta Capital LLC bought a new stake in United Bankshares in the second quarter worth $116,000. Marathon Strategic Advisors LLC purchased a new position in United Bankshares during the third quarter worth $206,000. Finally, Quest Partners LLC increased its position in United Bankshares by 377.2% during the third quarter. Quest Partners LLC now owns 5,641 shares of the financial services provider’s stock valued at $209,000 after acquiring an additional 4,459 shares during the last quarter. Institutional investors own 70.80% of the company’s stock.

Insiders Place Their Bets

In other United Bankshares news, Director J Paul Mcnamara sold 2,500 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.86, for a total transaction of $107,150.00. Following the transaction, the director now directly owns 63,409 shares in the company, valued at $2,717,709.74. This trade represents a 3.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter A. Converse sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $40.00, for a total value of $200,000.00. Following the transaction, the director now owns 434,769 shares in the company, valued at $17,390,760. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a 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 company’s stock. Based on data from MarketBeat.com, United Bankshares has a consensus rating of “Hold” and an average price target of $40.25.

United Bankshares Stock Down 0.9 %

NASDAQ:UBSI opened at $42.49 on Thursday. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 16.09 and a beta of 0.98. United Bankshares, Inc. has a twelve month low of $30.68 and a twelve month high of $44.43. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $38.68 and a 200-day simple moving average of $36.18.

United Bankshares (NASDAQ:UBSI) last released 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 company had revenue of $414.67 million during the quarter, compared to analysts’ expectations of $260.30 million. United Bankshares had a net margin of 22.05% and a return on equity of 7.58%. During the same period in the previous year, the company earned $0.71 EPS. Analysts anticipate that United Bankshares, Inc. will post 2.73 EPS for the current year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, December 13th. This represents a $1.48 annualized dividend and a yield of 3.48%. United Bankshares’s payout ratio is currently 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.