BNP Paribas Financial Markets Sells 24,596 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

BNP Paribas Financial Markets cut its stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 48.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,357 shares of the financial services provider's stock after selling 24,596 shares during the period. BNP Paribas Financial Markets' holdings in United Bankshares were worth $990,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new stake in United Bankshares during the 4th quarter valued at $26,000. Jones Financial Companies Lllp grew 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 valued at $33,000 after acquiring an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of United Bankshares by 1,921.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 1,364 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in United Bankshares by 37.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider's stock worth $56,000 after purchasing an additional 400 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in United Bankshares in the fourth quarter valued at approximately $85,000. 70.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

UBSI has been the topic of a number of recent analyst reports. Wall Street Zen cut United Bankshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Keefe, Bruyette & Woods dropped their price target 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. Piper Sandler reiterated a "neutral" rating and set a $38.50 price objective on shares of United Bankshares in a research report on Wednesday, March 12th. Finally, Stephens restated an "equal weight" rating and set a $43.00 price target on shares of United Bankshares in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $40.63.

United Bankshares Stock Down 0.3%

NASDAQ:UBSI traded down $0.12 during trading hours on Monday, reaching $36.01. The company's stock had a trading volume of 539,687 shares, compared to its average volume of 630,846. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 13.14 and a beta of 0.74. United Bankshares, Inc. has a one year low of $30.51 and a one year high of $44.43. The business's 50-day moving average is $34.51 and its 200-day moving average is $37.11. 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 (NASDAQ:UBSI - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.07). The firm had revenue of $289.61 million for the quarter, compared to the consensus estimate of $279.02 million. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. The firm's revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the company earned $0.64 earnings per share. Equities research analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend is Friday, June 13th. United Bankshares's dividend payout ratio is 55.02%.

Insiders Place Their Bets

In other news, Director Sara Dumond acquired 2,600 shares of the company's stock in a transaction dated Monday, March 24th. The stock was bought at an average price of $35.01 per share, with a total value of $91,026.00. Following the completion of the acquisition, the director now owns 5,054 shares in the company, valued at approximately $176,940.54. This represents a 105.95% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate 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.