Balyasny Asset Management L.P. Invests $2.52 Million in United Bankshares, Inc. (NASDAQ:UBSI)

Balyasny Asset Management L.P. acquired a new stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 67,040 shares of the financial services provider's stock, valued at approximately $2,517,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in United Bankshares in the 4th quarter worth $26,000. Jones Financial Companies Lllp increased its stake in shares of United Bankshares by 55.8% during the fourth quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider's stock worth $33,000 after purchasing an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of United Bankshares by 1,921.1% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider's stock worth $54,000 after purchasing an additional 1,364 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in United Bankshares by 37.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider's stock valued at $56,000 after buying an additional 400 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in United Bankshares in the 4th quarter worth about $85,000. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

United Bankshares Trading Down 0.3%

United Bankshares stock traded down $0.10 during trading on Friday, reaching $37.22. 568,690 shares of the company were exchanged, compared to its average volume of 623,481. The stock's 50 day simple moving average is $34.23 and its two-hundred day simple moving average is $37.27. The company has a market capitalization of $5.34 billion, a P/E ratio of 13.58 and a beta of 0.74. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. United Bankshares, Inc. has a 52-week low of $30.51 and a 52-week high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.59 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.07). United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. The company had revenue of $289.61 million for the quarter, compared to analysts' expectations of $279.02 million. During the same quarter in the prior year, the firm earned $0.64 EPS. The firm's revenue was up 13.7% on a year-over-year basis. On average, equities research analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.98%. United Bankshares's dividend payout ratio is currently 55.02%.

Analyst Upgrades and Downgrades

UBSI has been the subject of a number of research analyst reports. Piper Sandler reissued a "neutral" rating and set a $38.50 target price on shares of United Bankshares in a report on Wednesday, March 12th. Keefe, Bruyette & Woods decreased their price objective on United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. StockNews.com raised shares of United Bankshares from a "sell" rating to a "hold" rating in a report on Tuesday. Finally, Stephens reiterated an "equal weight" rating and issued a $43.00 target price on shares of United Bankshares in a research report on Monday, January 27th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, United Bankshares has a consensus rating of "Hold" and an average target price of $40.63.

Insider Activity

In other United Bankshares news, Director Sara Dumond acquired 2,600 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was bought at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the completion of the transaction, the director now owns 5,054 shares of the company's stock, valued at approximately $176,940.54. The trade was a 105.95% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.46% of the company's stock.

United Bankshares 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.