GAMMA Investing LLC Purchases 79,390 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

GAMMA Investing LLC boosted its position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 3,462.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,683 shares of the financial services provider's stock after purchasing an additional 79,390 shares during the period. GAMMA Investing LLC owned about 0.06% of United Bankshares worth $2,832,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in United Bankshares during the 4th quarter worth about $26,000. Jones Financial Companies Lllp lifted its position in shares of United Bankshares by 55.8% in the fourth quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider's stock worth $33,000 after purchasing an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position in shares of United Bankshares by 1,921.1% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider's stock worth $54,000 after purchasing an additional 1,364 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of 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 bought a new stake in shares of United Bankshares in the fourth quarter worth $85,000. Institutional investors own 70.80% of the company's stock.

Insider Buying and Selling

In other United Bankshares news, Director Sara Dumond purchased 2,600 shares of United Bankshares stock in a transaction that occurred on Monday, March 24th. The stock was acquired at an average price of $35.01 per share, for a total transaction of $91,026.00. Following the completion of the acquisition, the director now owns 5,054 shares of the company's stock, valued at approximately $176,940.54. This trade represents a 105.95% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 3.46% of the stock is currently owned by corporate insiders.

United Bankshares Stock Down 0.8%

Shares of NASDAQ UBSI traded down $0.27 during mid-day trading on Monday, hitting $34.96. The company had a trading volume of 792,632 shares, compared to its average volume of 635,657. The company has a market capitalization of $4.97 billion, a PE ratio of 12.76 and a beta of 0.76. The firm has a 50-day simple moving average of $35.23 and a two-hundred day simple moving average of $36.46. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. United Bankshares, Inc. has a one year low of $30.51 and a one year high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.07). The company had revenue of $289.61 million during 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%. United Bankshares's revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. On average, equities analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date is Friday, June 13th. United Bankshares's payout ratio is currently 55.02%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Piper Sandler reissued a "neutral" rating and issued a $38.50 price objective on shares of United Bankshares in a research report on Wednesday, March 12th. Keefe, Bruyette & Woods decreased their price objective on United Bankshares from $42.00 to $40.00 and set a "market perform" rating for the company in a report 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 equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $40.63.

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.