1,656K shares changed hands by the end of trading on Tuesday. Volume was up 213.03% over the stocks average daily volume.
Short traders are more bullish on the company lately if you watch the downtick in short interest. The company realized a fall in short interest of -4.33% between September 29, 2017 and October 13, 2017. Short shares decreased 284,170 over that period. Days to cover increased from 9.0 to 12.0 and the percentage of shorted shares was 0.06% on October 13.
There has been some buying insider activity on United Bankshares, Inc. (NASDAQ:UBSI) recently. Richard M. Sr Adams, Chairman disclosed the purchase of 1,137 shares of UBSI stock. The shares were bought on August 15th for an average price of $33.98. The Chairman now owns $21,645 of the stock according to the SEC filing.
These funds have shifted positions in (UBSI). As of the end of the quarter Parkside Financial Bank & Trust had sold a total of 43 shares trimming its holdings by 22.2%. The value in dollars went from $8,000 to $6,000 a change of 25.0% for the reporting period. Raymond James Financial Services Advisors, Inc. grew its stake by buying 4,068 shares an increase of 26.2% from 06/30/2017 to 09/30/2017. Raymond James Financial Services Advisors, Inc. now controls 19,573 shares worth $727,000. The total value of its holdings increased 19.6%.
Aperio Group, LLC added to its position by buying 16,626 shares an increase of 47.8% as of 09/30/2017. Aperio Group, LLC controls 51,395 shares with a value of $1,909,000. The value of the position overall is up by 40.1%. As of quarter end Mckinley Carter Wealth Services, Inc. had acquired 1,882 shares growing its position 11.5%. The value of the company’s investment in United Bankshares, Inc. increased from $644,000 to $680,000 a change of $36,000 since the last quarter.
The company is now up since yesterday’s close of $35.95. The company also announced a dividend for shareholders that was paid on Monday the 2nd of October 2017. The dividend was $0.330 per share for the quarter which comes to $1.32 on an annualized basis. This dividend amount represented a yield of $3.53. The ex-dividend date was Thursday the 7th of September 2017.
Company shares last traded at $35.95 a bit lower than $36.49, the stock’s 50 day moving average and which is a tad under the 200 day moving average of $37.18. The 50 day moving average went down $-0.54 or -1.48% and the 200 day average moved down $-1.23.
United Bankshares, Inc. currently has a P/E ratio of 19.23 and the market value is 3.77B. As of the last earnings report the EPS was $1.87 and is projected to be $1.92 for the current year with 104,961,000 shares currently outstanding. Next quarter’s EPS is forecasted at $0.53 with next year’s EPS projected to be $2.20.
United Bankshares, Inc. (United), launched on March 26, 1982, 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. Included among the banking services offered are the acceptance of deposits in checking, savings, time and money market accounts; the making and servicing of personal, commercial, floor plan and student loans, and the making of construction and real estate loans. Also offered are individual retirement accounts, safe deposit boxes, wire transfers and other standard banking products and services. As part of its lending function, the Banking Subsidiaries offer credit card services..Advertisement