AlphaQuest LLC Raises Position in United Bankshares, Inc. (NASDAQ:UBSI)

AlphaQuest LLC boosted its stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 1,343.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 81,407 shares of the financial services provider's stock after buying an additional 75,766 shares during the period. United Bankshares accounts for approximately 0.4% of AlphaQuest LLC's portfolio, making the stock its 13th largest position. AlphaQuest LLC owned 0.06% of United Bankshares worth $3,057,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jane Street Group LLC lifted its holdings in United Bankshares by 27.2% in the third quarter. Jane Street Group LLC now owns 161,489 shares of the financial services provider's stock worth $5,991,000 after buying an additional 34,526 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in United Bankshares by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,673,056 shares of the financial services provider's stock worth $62,070,000 after buying an additional 83,503 shares during the period. BNP Paribas Financial Markets lifted its holdings in United Bankshares by 73.1% in the third quarter. BNP Paribas Financial Markets now owns 50,953 shares of the financial services provider's stock worth $1,890,000 after buying an additional 21,520 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of United Bankshares by 3.6% during the third quarter. Daiwa Securities Group Inc. now owns 12,328 shares of the financial services provider's stock valued at $457,000 after purchasing an additional 427 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of United Bankshares by 9.8% during the third quarter. JPMorgan Chase & Co. now owns 594,819 shares of the financial services provider's stock valued at $22,068,000 after purchasing an additional 52,949 shares in the last quarter. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In related news, Director Mark R. Nesselroad sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $39.16, for a total value of $234,960.00. Following the sale, the director now owns 35,424 shares in the company, valued at approximately $1,387,203.84. This trade represents a 14.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.66% of the stock is currently owned by corporate insiders.

United Bankshares Stock Up 0.5 %

Shares of UBSI traded up $0.18 on Wednesday, hitting $34.22. 803,230 shares of the stock traded hands, compared to its average volume of 522,523. The company has a market capitalization of $4.90 billion, a PE ratio of 12.49 and a beta of 0.98. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. The business has a 50 day simple moving average of $37.26 and a 200 day simple moving average of $38.30. United Bankshares, Inc. has a one year low of $30.68 and a one year high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued its earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. During the same period in the previous year, the company earned $0.59 EPS. As a group, equities analysts forecast that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.32%. The ex-dividend date is Friday, March 14th. United Bankshares's dividend payout ratio is currently 54.01%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on UBSI shares. StockNews.com downgraded shares of United Bankshares from a "hold" rating to a "sell" rating in a research note on Monday, January 27th. Stephens reaffirmed an "equal weight" rating and set a $43.00 target price on shares of United Bankshares in a research note on Monday, January 27th. Piper Sandler reissued a "neutral" rating and set a $38.50 price target on shares of United Bankshares in a research report on Wednesday. Finally, Keefe, Bruyette & Woods reduced their price target on shares of United Bankshares from $46.00 to $45.00 and set a "market perform" rating for the company in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $41.88.

United Bankshares Company Profile

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.