Jane Street Group LLC Has $1.03 Million Stock Position in United Bankshares, Inc. (NASDAQ:UBSI)

Jane Street Group LLC lessened its stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 83.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,489 shares of the financial services provider's stock after selling 134,000 shares during the quarter. Jane Street Group LLC's holdings in United Bankshares were worth $1,032,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Principal Securities Inc. boosted its position in shares of United Bankshares by 10.1% during the fourth quarter. Principal Securities Inc. now owns 3,115 shares of the financial services provider's stock worth $117,000 after purchasing an additional 285 shares in the last quarter. Arizona State Retirement System raised its stake in United Bankshares by 0.8% during the 4th quarter. Arizona State Retirement System now owns 39,225 shares of the financial services provider's stock worth $1,473,000 after buying an additional 296 shares during the period. Jones Financial Companies Lllp raised its stake in United Bankshares by 55.8% during the 4th quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider's stock worth $33,000 after buying an additional 310 shares during the period. Tower Research Capital LLC TRC lifted its holdings in United Bankshares by 2.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 12,432 shares of the financial services provider's stock worth $467,000 after acquiring an additional 327 shares in the last quarter. Finally, 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 valued at $56,000 after acquiring an additional 400 shares during the period. Institutional investors and hedge funds own 70.80% of the company's stock.

Insider Transactions at United Bankshares

In other United Bankshares news, Director Sara Dumond acquired 2,600 shares of United Bankshares stock in a transaction dated Monday, March 24th. The stock was bought at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the purchase, the director now directly owns 5,054 shares in the company, valued at approximately $176,940.54. This represents a 105.95% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 3.66% of the company's stock.

Analysts Set New Price Targets

UBSI has been the topic of a number of research analyst reports. 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 research report on Monday, April 28th. Piper Sandler reissued a "neutral" rating and set a $38.50 target price on shares of United Bankshares in a research note on Wednesday, March 12th. Finally, Wall Street Zen downgraded shares of United Bankshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, United Bankshares has an average rating of "Hold" and a consensus price target of $40.63.

United Bankshares Stock Down 2.0%

UBSI stock traded down $0.74 during trading hours on Wednesday, reaching $36.09. 489,894 shares of the stock were exchanged, compared to its average volume of 630,914. The firm's 50-day moving average is $34.59 and its 200-day moving average is $37.11. United Bankshares, Inc. has a 12 month low of $30.51 and a 12 month high of $44.43. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 13.17 and a beta of 0.74. 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 posted its quarterly earnings data 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). United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. The firm had revenue of $289.61 million for the quarter, compared to the consensus estimate of $279.02 million. During the same quarter in the previous year, the business posted $0.64 earnings per share. The firm's quarterly revenue was up 13.7% compared to the same quarter last year. On average, equities research analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, June 13th. This represents a $1.48 annualized dividend and a dividend yield of 4.10%. United Bankshares's dividend payout ratio is currently 55.02%.

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.