Millennium Management LLC Has $914,000 Stock Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Millennium Management LLC decreased its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 65.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,348 shares of the financial services provider's stock after selling 45,131 shares during the quarter. Millennium Management LLC's holdings in United Bankshares were worth $914,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in UBSI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in United Bankshares by 10.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 124,709 shares of the financial services provider's stock worth $4,683,000 after purchasing an additional 11,711 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of United Bankshares by 5.3% during the fourth quarter. Janus Henderson Group PLC now owns 61,534 shares of the financial services provider's stock worth $2,310,000 after buying an additional 3,100 shares during the last quarter. Graham Capital Management L.P. increased its holdings in shares of United Bankshares by 64.2% during the fourth quarter. Graham Capital Management L.P. now owns 47,183 shares of the financial services provider's stock worth $1,772,000 after buying an additional 18,447 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of United Bankshares by 48.9% during the fourth quarter. Deutsche Bank AG now owns 113,800 shares of the financial services provider's stock worth $4,273,000 after buying an additional 37,372 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of United Bankshares by 9.6% in the 4th quarter. Cetera Investment Advisers now owns 11,433 shares of the financial services provider's stock valued at $429,000 after acquiring an additional 1,003 shares during the last quarter. Institutional investors 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 the company's stock in a transaction dated Monday, March 24th. The shares were bought at an average cost of $35.01 per share, with a total value of $91,026.00. Following the purchase, the director now directly owns 5,054 shares of the company's stock, valued at $176,940.54. This trade represents a 105.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.46% of the company's stock.

United Bankshares Trading Up 2.0%

UBSI traded up $0.71 during midday trading on Friday, hitting $36.36. 503,262 shares of the company were exchanged, compared to its average volume of 633,329. The firm's 50 day moving average price is $34.77 and its 200-day moving average price is $36.77. United Bankshares, Inc. has a 1-year low of $30.51 and a 1-year high of $44.43. The firm has a market capitalization of $5.17 billion, a P/E ratio of 13.27 and a beta of 0.76. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued 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 company had revenue of $289.61 million for the quarter, compared to the consensus estimate of $279.02 million. During the same quarter last year, the business earned $0.64 earnings per share. United Bankshares's revenue was up 13.7% compared to the same quarter last year. As a group, equities 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 Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.37 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.07%. United Bankshares's dividend payout ratio (DPR) is currently 55.02%.

Analyst Upgrades and Downgrades

UBSI has been the topic of a number of research reports. Piper Sandler restated a "neutral" rating and set a $38.50 price objective on shares of United Bankshares in a research report on Wednesday, March 12th. Keefe, Bruyette & Woods cut their price target on United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Finally, Wall Street Zen cut United Bankshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. Based on data from MarketBeat, United Bankshares presently has a consensus rating of "Hold" and a consensus target price of $40.63.

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.