Pinnacle Financial Partners Inc Takes Position in United Bankshares, Inc. (NASDAQ:UBSI)

Pinnacle Financial Partners Inc bought a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 12,839 shares of the financial services provider’s stock, valued at approximately $476,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in shares of United Bankshares by 0.4% during the third quarter. Victory Capital Management Inc. now owns 3,997,311 shares of the financial services provider’s stock worth $148,300,000 after buying an additional 14,833 shares in the last quarter. Vestia Personal Wealth Advisors acquired a new stake in United Bankshares during the 3rd quarter valued at $219,000. Versor Investments LP acquired a new stake in United Bankshares during the 3rd quarter valued at $393,000. Los Angeles Capital Management LLC raised its position in United Bankshares by 23.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 10,813 shares of the financial services provider’s stock valued at $401,000 after purchasing an additional 2,051 shares during the last quarter. Finally, Atria Investments Inc boosted its stake in United Bankshares by 6.2% in the third quarter. Atria Investments Inc now owns 36,819 shares of the financial services provider’s stock worth $1,366,000 after purchasing an additional 2,163 shares in the last quarter. 70.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on UBSI. StockNews.com raised United Bankshares from a “sell” rating to a “hold” rating in a report on Wednesday. Keefe, Bruyette & Woods boosted their target price on shares of United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. DA Davidson increased their price target on shares of United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Stephens boosted their price objective on shares of United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, United Bankshares has an average rating of “Hold” and a consensus price target of $40.25.

Insider Buying and Selling

In related news, Director Peter A. Converse sold 5,000 shares of United Bankshares stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $40.00, for a total transaction of $200,000.00. Following the transaction, the director now owns 434,769 shares of the company’s stock, valued at $17,390,760. This trade represents a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.66% of the stock is owned by insiders.

United Bankshares Stock Performance

United Bankshares stock opened at $42.30 on Friday. The company has a market cap of $5.72 billion, a PE ratio of 16.02 and a beta of 0.98. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11. United Bankshares, Inc. has a 1 year low of $30.68 and a 1 year high of $43.77. The company’s 50-day moving average is $37.81 and its two-hundred day moving average is $35.67.

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

United Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a $0.37 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.48 annualized dividend and a dividend yield of 3.50%. United Bankshares’s dividend payout ratio is currently 56.06%.

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.