Headlands Technologies LLC Increases Stock Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Key Points

• Headlands Technologies LLC has increased its holdings in United Bankshares, Inc. by 342.8%, acquiring an additional 7,736 shares in the first quarter, bringing its total ownership to 9,993 shares valued at approximately $346,000.
• During the same period, multiple institutional investors such as Farther Finance Advisors LLC and CWM LLC made significant increases in their stakes in United Bankshares, showing growing interest from the institutional investment community.
• Analysts have recently downgraded United Bankshares’ stock rating, with Wall Street Zen lowering it from "hold" to "sell" and Keefe, Bruyette & Woods reducing their price target from $42.00 to $40.00.

Headlands Technologies LLC lifted its position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 342.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,993 shares of the financial services provider's stock after purchasing an additional 7,736 shares during the quarter. Headlands Technologies LLC's holdings in United Bankshares were worth $346,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its position in United Bankshares by 726.5% in the first quarter. Farther Finance Advisors LLC now owns 967 shares of the financial services provider's stock valued at $33,000 after buying an additional 850 shares during the last quarter. Meeder Asset Management Inc. lifted its position in United Bankshares by 144.2% in the first quarter. Meeder Asset Management Inc. now owns 1,155 shares of the financial services provider's stock valued at $40,000 after buying an additional 682 shares during the last quarter. CWM LLC lifted its position in shares of United Bankshares by 226.9% during the first quarter. CWM LLC now owns 1,651 shares of the financial services provider's stock worth $57,000 after purchasing an additional 1,146 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of United Bankshares by 44.4% during the first quarter. Fifth Third Bancorp now owns 1,699 shares of the financial services provider's stock worth $59,000 after purchasing an additional 522 shares in the last quarter. Finally, Hughes Financial Services LLC acquired a new stake in shares of United Bankshares during the first quarter worth about $60,000. Hedge funds and other institutional investors own 70.80% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wall Street Zen cut shares of United Bankshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods reduced their price target on shares of United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th.

United Bankshares Stock Down 1.0%

NASDAQ:UBSI traded down $0.37 during mid-day trading on Thursday, hitting $37.48. The stock had a trading volume of 173,558 shares, compared to its average volume of 789,801. The stock has a 50-day simple moving average of $36.53 and a two-hundred day simple moving average of $35.86. The company has a market capitalization of $5.31 billion, a PE ratio of 13.24 and a beta of 0.79. United Bankshares, Inc. has a twelve month low of $30.50 and a twelve month high of $44.43. 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 (NASDAQ:UBSI - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.08. The firm had revenue of $306.00 million for the quarter, compared to analysts' expectations of $297.98 million. United Bankshares had a net margin of 23.14% and a return on equity of 7.65%. During the same quarter last year, the company earned $0.71 earnings per share. On average, equities research analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current year.

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.