Los Angeles Capital Management LLC Has $401,000 Stock Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Los Angeles Capital Management LLC grew its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 23.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,813 shares of the financial services provider’s stock after buying an additional 2,051 shares during the quarter. Los Angeles Capital Management LLC’s holdings in United Bankshares were worth $401,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Atria Investments Inc raised its stake in shares of United Bankshares by 6.2% in the 3rd quarter. Atria Investments Inc now owns 36,819 shares of the financial services provider’s stock valued at $1,366,000 after buying an additional 2,163 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in shares of United Bankshares in the 3rd quarter worth about $461,000. Goldstone Financial Group LLC bought a new stake in shares of United Bankshares in the 3rd quarter worth about $266,000. State of Alaska Department of Revenue grew its holdings in shares of United Bankshares by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 15,634 shares of the financial services provider’s stock worth $580,000 after purchasing an additional 1,060 shares during the last quarter. Finally, Nicholson Wealth Management Group LLC bought a new stake in shares of United Bankshares in the 3rd quarter worth about $2,849,000. Institutional investors and hedge funds own 70.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on UBSI. StockNews.com raised shares of United Bankshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. DA Davidson upped their target price on shares of United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Stephens upped their target price on shares of United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods upped their target price on shares of United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, United Bankshares has a consensus rating of “Hold” and a consensus price target of $40.25.

United Bankshares Stock Down 0.2 %

Shares of NASDAQ:UBSI opened at $42.22 on Monday. United Bankshares, Inc. has a 12 month low of $30.68 and a 12 month high of $43.77. The company’s 50-day moving average price is $37.92 and its two-hundred day moving average price is $35.78. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The firm has a market cap of $5.71 billion, a P/E ratio of 15.99 and a beta of 0.98.

United Bankshares (NASDAQ:UBSI) last issued its earnings results 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 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. As a group, research analysts forecast that United Bankshares, Inc. will post 2.73 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The firm 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 $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Friday, December 13th. United Bankshares’s dividend payout ratio (DPR) is presently 56.06%.

Insider Activity

In related news, Director Peter A. Converse sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $40.00, for a total value of $200,000.00. Following the sale, 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 SEC, which is available at this link. Insiders own 3.66% of the company’s stock.

United Bankshares 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.