Cubist Systematic Strategies LLC Buys 103,632 Shares of United Bankshares, Inc. $UBSI

Key Points

• Cubist Systematic Strategies LLC increased its ownership of United Bankshares, Inc. by 199.6% in Q1, acquiring an additional 103,632 shares, bringing its total to 155,550 shares valued at approximately $5.39 million.
• United Bankshares recently reported an earnings per share (EPS) of $0.85 for its last quarter, exceeding analysts' expectations of $0.77, with revenues reaching $306 million.
• The company declared a quarterly dividend of $0.37, which will be paid on October 1st, representing a 3.9% yield based on an annualized dividend of $1.48.

Cubist Systematic Strategies LLC grew its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 199.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 155,550 shares of the financial services provider's stock after acquiring an additional 103,632 shares during the period. Cubist Systematic Strategies LLC owned about 0.11% of United Bankshares worth $5,393,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of UBSI. Nuveen LLC bought a new stake in shares of United Bankshares during the first quarter valued at approximately $28,526,000. Northern Trust Corp raised its stake in shares of United Bankshares by 13.7% during the fourth quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider's stock valued at $66,614,000 after acquiring an additional 213,441 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of United Bankshares by 52.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 381,062 shares of the financial services provider's stock valued at $14,309,000 after acquiring an additional 130,444 shares in the last quarter. Dover Advisors LLC bought a new stake in shares of United Bankshares during the first quarter valued at approximately $3,015,000. Finally, Invesco Ltd. raised its stake in shares of United Bankshares by 8.9% during the first quarter. Invesco Ltd. now owns 980,553 shares of the financial services provider's stock valued at $33,996,000 after acquiring an additional 80,176 shares in the last quarter. Institutional investors own 70.80% of the company's stock.

United Bankshares Price Performance

NASDAQ UBSI opened at $38.05 on Thursday. The firm's fifty day simple moving average is $37.17 and its two-hundred day simple moving average is $35.80. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.10. United Bankshares, Inc. has a 12-month low of $30.50 and a 12-month high of $44.43. The firm has a market capitalization of $5.39 billion, a P/E ratio of 13.45 and a beta of 0.82.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.08. United Bankshares had a net margin of 23.14% and a return on equity of 7.65%. The business had revenue of $306.00 million for the quarter, compared to analyst estimates of $297.98 million. During the same period in the previous year, the company earned $0.71 earnings per share. Analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, September 12th. United Bankshares's payout ratio is currently 52.30%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of United Bankshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Zacks Research raised shares of United Bankshares to a "hold" rating in a research note on Friday, August 8th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, United Bankshares has an average rating of "Hold" and an average price target of $40.50.

About United Bankshares

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.

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