Balyasny Asset Management L.P. Takes Position in United Bankshares, Inc. (NASDAQ:UBSI)

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

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. bought a new position in United Bankshares in the 4th quarter valued at about $7,383,000. Truist Financial Corp lifted its position in United Bankshares by 69.8% in the 4th quarter. Truist Financial Corp now owns 22,916 shares of the financial services provider's stock valued at $860,000 after acquiring an additional 9,418 shares in the last quarter. Barclays PLC lifted its position in United Bankshares by 89.5% in the 3rd quarter. Barclays PLC now owns 269,852 shares of the financial services provider's stock valued at $10,012,000 after acquiring an additional 127,486 shares in the last quarter. JPMorgan Chase & Co. lifted its position in United Bankshares by 39.7% in the 4th quarter. JPMorgan Chase & Co. now owns 830,774 shares of the financial services provider's stock valued at $31,196,000 after acquiring an additional 235,955 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in United Bankshares by 12.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,656 shares of the financial services provider's stock valued at $214,000 after acquiring an additional 608 shares in the last quarter. Institutional investors own 70.80% of the company's stock.

Wall Street Analysts Forecast Growth

UBSI has been the topic of several recent analyst reports. StockNews.com raised shares of United Bankshares from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Stephens reaffirmed an "equal weight" rating and set a $43.00 price target on shares of United Bankshares in a research report on Monday, January 27th. Piper Sandler reaffirmed a "neutral" rating and set a $38.50 price target on shares of United Bankshares in a research report on Wednesday, March 12th. Finally, Keefe, Bruyette & Woods decreased their price target on United Bankshares from $42.00 to $40.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, United Bankshares currently has an average rating of "Hold" and a consensus price target of $40.63.

United Bankshares Stock Performance

NASDAQ UBSI traded down $0.10 on Friday, hitting $37.22. 568,690 shares of the stock traded hands, compared to its average volume of 625,994. The business's fifty day moving average is $34.29 and its two-hundred day moving average is $37.25. United Bankshares, Inc. has a 12 month low of $30.51 and a 12 month high of $44.43. The firm has a market capitalization of $5.29 billion, a price-to-earnings ratio of 13.58 and a beta of 0.74. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98.

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

United Bankshares Dividend Announcement

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

Insider Buying and Selling at United Bankshares

In other United Bankshares news, Director Sara Dumond bought 2,600 shares of the stock in a transaction on Monday, March 24th. The shares were acquired at an average price of $35.01 per share, with a total value of $91,026.00. Following the acquisition, the director now directly owns 5,054 shares of the company's stock, valued at $176,940.54. The trade was a 105.95% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.46% of the company's stock.

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.