Squarepoint Ops LLC increased its position in United Bankshares, Inc. (NASDAQ:UBSI) by 134.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,218 shares of the financial services provider’s stock after buying an additional 24,785 shares during the period. Squarepoint Ops LLC’s holdings in United Bankshares were worth $1,637,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in UBSI. FMR LLC boosted its position in United Bankshares by 213.3% during the first quarter. FMR LLC now owns 5,382 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 3,664 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of United Bankshares by 1.1% during the second quarter. Arizona State Retirement System now owns 74,115 shares of the financial services provider’s stock worth $2,749,000 after purchasing an additional 798 shares during the last quarter. Strs Ohio boosted its holdings in shares of United Bankshares by 2.6% during the second quarter. Strs Ohio now owns 11,700 shares of the financial services provider’s stock worth $433,000 after purchasing an additional 300 shares during the last quarter. Sandy Spring Bank grew its position in shares of United Bankshares by 24.2% in the second quarter. Sandy Spring Bank now owns 23,194 shares of the financial services provider’s stock valued at $860,000 after purchasing an additional 4,520 shares during the period. Finally, Swiss National Bank grew its position in shares of United Bankshares by 1.2% in the second quarter. Swiss National Bank now owns 190,382 shares of the financial services provider’s stock valued at $7,061,000 after purchasing an additional 2,300 shares during the period. 69.07% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently commented on the company. BidaskClub downgraded United Bankshares from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. DA Davidson lowered United Bankshares to a “hold” rating and set a $44.65 price target on the stock. in a research note on Tuesday, November 19th. ValuEngine cut United Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research raised shares of United Bankshares from a “sell” rating to a “hold” rating in a research note on Saturday, October 26th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The company presently has an average rating of “Hold” and an average target price of $42.83.
United Bankshares stock opened at $37.72 on Tuesday. United Bankshares, Inc. has a 1 year low of $29.13 and a 1 year high of $40.70. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.01 and a current ratio of 1.04. The firm has a 50 day moving average price of $38.97 and a 200 day moving average price of $37.53. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 15.40 and a beta of 1.19.
United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.02. The company had revenue of $185.06 million for the quarter, compared to the consensus estimate of $181.44 million. United Bankshares had a net margin of 28.68% and a return on equity of 7.89%. United Bankshares’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 earnings per share. Sell-side analysts predict that United Bankshares, Inc. will post 2.54 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, December 12th. This is a boost from United Bankshares’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a dividend yield of 3.71%. United Bankshares’s payout ratio is currently 55.51%.
United Bankshares Company Profile
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.
Featured Article: How is a Moving Average Calculated?
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).
Receive News & Ratings for United Bankshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Bankshares and related companies with MarketBeat.com's FREE daily email newsletter.