AlphaQuest LLC Cuts Stake in United Bankshares, Inc. $UBSI

Key Points

• AlphaQuest LLC has reduced its stake in United Bankshares, Inc. by 11.4%, now holding approximately 72,105 shares valued at about $2.5 million as of the latest SEC filing.
• Other institutional investors, such as Brighton Jones LLC and MetLife Investment Management LLC, have increased their positions in United Bankshares during the fourth quarter, reflecting a growing interest in the stock.
• United Bankshares reported $0.85 earnings per share for the last quarter, exceeding analysts' expectations and highlighting a net margin of 23.14%.

AlphaQuest LLC lessened its position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 11.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,105 shares of the financial services provider's stock after selling 9,302 shares during the period. AlphaQuest LLC owned 0.05% of United Bankshares worth $2,500,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its holdings in United Bankshares by 726.5% in the 1st quarter. Farther Finance Advisors LLC now owns 967 shares of the financial services provider's stock worth $33,000 after acquiring an additional 850 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in United Bankshares by 144.2% in the 1st quarter. Meeder Asset Management Inc. now owns 1,155 shares of the financial services provider's stock worth $40,000 after acquiring an additional 682 shares during the last quarter. CWM LLC grew its holdings in United Bankshares by 226.9% in the 1st quarter. CWM LLC now owns 1,651 shares of the financial services provider's stock worth $57,000 after acquiring an additional 1,146 shares during the last quarter. Fifth Third Bancorp grew its holdings in United Bankshares by 44.4% in the 1st quarter. Fifth Third Bancorp now owns 1,699 shares of the financial services provider's stock worth $59,000 after acquiring an additional 522 shares during the last quarter. Finally, Hughes Financial Services LLC bought a new stake in United Bankshares in the 1st quarter worth $60,000. Institutional investors own 70.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on UBSI shares. Zacks Research raised shares of United Bankshares to a "hold" rating in a research report on Friday, August 8th. Keefe, Bruyette & Woods dropped their target price on shares of 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. Finally, Wall Street Zen cut shares of United Bankshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $40.50.

United Bankshares Stock Up 4.9%

NASDAQ UBSI traded up $1.82 during trading hours on Friday, reaching $38.73. 778,061 shares of the company's stock traded hands, compared to its average volume of 639,222. United Bankshares, Inc. has a 52-week low of $30.50 and a 52-week high of $44.43. The firm has a market cap of $5.49 billion, a PE ratio of 13.69 and a beta of 0.79. The firm has a 50-day simple moving average of $36.69 and a 200 day simple moving average of $35.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.08. United Bankshares had a net margin of 23.14% and a return on equity of 7.65%. The company had revenue of $306.00 million during the quarter, compared to analysts' expectations of $297.98 million. During the same period last year, the company posted $0.71 EPS. Sell-side analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

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.