Heartland Advisors Inc. Sells 247,396 Shares of United Bankshares, Inc. (UBSI)

Heartland Advisors Inc. lessened its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 35.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 445,395 shares of the financial services provider’s stock after selling 247,396 shares during the period. United Bankshares makes up 1.1% of Heartland Advisors Inc.’s holdings, making the stock its 13th biggest holding. Heartland Advisors Inc.’s holdings in United Bankshares were worth $16,190,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. IFP Advisors Inc boosted its holdings in United Bankshares by 103.3% in the third quarter. IFP Advisors Inc now owns 3,675 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 1,867 shares in the last quarter. MML Investors Services LLC acquired a new stake in United Bankshares in the third quarter worth about $218,000. Ridgewood Investments LLC acquired a new stake in United Bankshares in the second quarter worth about $224,000. OppenheimerFunds Inc. boosted its holdings in United Bankshares by 22.8% in the second quarter. OppenheimerFunds Inc. now owns 7,317 shares of the financial services provider’s stock worth $266,000 after acquiring an additional 1,358 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new stake in United Bankshares in the second quarter worth about $269,000. 72.06% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ UBSI opened at $35.46 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.02 and a quick ratio of 1.01. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 1.76 and a beta of 1.11. United Bankshares, Inc. has a fifty-two week low of $31.01 and a fifty-two week high of $39.95.

United Bankshares (NASDAQ:UBSI) last released its earnings results on Thursday, October 25th. The financial services provider reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.01). United Bankshares had a return on equity of 7.64% and a net margin of 25.09%. The firm had revenue of $180.46 million for the quarter, compared to analyst estimates of $189.56 million. On average, equities analysts anticipate that United Bankshares, Inc. will post 2.46 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, December 14th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.84%. United Bankshares’s dividend payout ratio (DPR) is 71.58%.

In related news, Director Peter A. Converse sold 2,500 shares of United Bankshares stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $39.50, for a total transaction of $98,750.00. Following the completion of the sale, the director now owns 471,810 shares of the company’s stock, valued at $18,636,495. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.15% of the company’s stock.

Several equities research analysts have weighed in on UBSI shares. BidaskClub raised United Bankshares from a “hold” rating to a “buy” rating in a report on Saturday, September 8th. Zacks Investment Research raised United Bankshares from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a report on Tuesday, July 31st. ValuEngine raised United Bankshares from a “sell” rating to a “hold” rating in a report on Friday. Finally, Boenning Scattergood reissued a “hold” rating on shares of United Bankshares in a report on Friday, October 26th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $39.33.

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About United Bankshares

United Bankshares, Inc, a financial holding company, 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.

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Want to see what other hedge funds are holding UBSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Bankshares, Inc. (NASDAQ:UBSI).

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

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