HighTower Advisors LLC bought a new position in United Bankshares, Inc. (NASDAQ:UBSI) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 6,050 shares of the financial services provider’s stock, valued at approximately $254,000.

Other hedge funds also recently bought and sold shares of the company. FMR LLC boosted its stake in United Bankshares by 3.0% in the fourth quarter. FMR LLC now owns 6,136 shares of the financial services provider’s stock worth $284,000 after buying an additional 181 shares during the last quarter. City Holding Co. boosted its stake in United Bankshares by 0.8% in the first quarter. City Holding Co. now owns 24,191 shares of the financial services provider’s stock worth $1,022,000 after buying an additional 200 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in United Bankshares by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 8,980 shares of the financial services provider’s stock worth $379,000 after buying an additional 220 shares during the last quarter. LS Investment Advisors LLC boosted its stake in United Bankshares by 9.7% in the first quarter. LS Investment Advisors LLC now owns 2,766 shares of the financial services provider’s stock worth $117,000 after buying an additional 244 shares during the last quarter. Finally, Sigma Planning Corp boosted its stake in United Bankshares by 3.5% in the first quarter. Sigma Planning Corp now owns 9,130 shares of the financial services provider’s stock worth $386,000 after buying an additional 307 shares during the last quarter. 50.07% of the stock is currently owned by hedge funds and other institutional investors.

Shares of United Bankshares, Inc. (UBSI) opened at 37.15 on Friday. The company has a market cap of $3.90 billion, a PE ratio of 18.87 and a beta of 1.07. United Bankshares, Inc. has a 1-year low of $36.53 and a 1-year high of $49.35. The firm’s 50 day moving average is $38.83 and its 200-day moving average is $41.49.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.48 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. The firm had revenue of $127.77 million for the quarter, compared to analysts’ expectations of $127.70 million. United Bankshares had a net margin of 27.17% and a return on equity of 7.09%. During the same quarter last year, the company posted $0.50 EPS. Equities analysts expect that United Bankshares, Inc. will post $2.07 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Friday, June 9th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Wednesday, June 7th. United Bankshares’s dividend payout ratio (DPR) is currently 67.01%.

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A number of research firms have weighed in on UBSI. BidaskClub cut shares of United Bankshares from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Zacks Investment Research cut shares of United Bankshares from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Keefe, Bruyette & Woods set a $44.00 target price on shares of United Bankshares and gave the stock a “hold” rating in a research note on Thursday, April 6th. Finally, Boenning Scattergood raised shares of United Bankshares from an “underperform” rating to a “neutral” rating in a research note on Thursday, May 18th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $42.63.

In other news, Director Michael P. Fitzgerald sold 13,100 shares of the firm’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $38.28, for a total transaction of $501,468.00. Following the sale, the director now owns 245,273 shares in the company, valued at approximately $9,389,050.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Bernard H. Clineburg sold 1,183 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $39.71, for a total transaction of $46,976.93. Following the sale, the director now owns 174,765 shares in the company, valued at approximately $6,939,918.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,321 shares of company stock worth $1,070,486. Corporate insiders own 7.50% of the company’s stock.

About United Bankshares

United Bankshares, Inc (United) is a bank holding company. The Company operates through community banking segment. United’s Banking Subsidiaries offer a range of commercial and retail banking services and products. United, through its subsidiaries, engages in community banking and offers banking products and services permitted by law and regulation.

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Institutional Ownership by Quarter for United Bankshares (NASDAQ:UBSI)

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