GAMMA Investing LLC Raises Position in United Bankshares, Inc. (NASDAQ:UBSI)

GAMMA Investing LLC lifted its position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 3,462.3% in the first quarter, according to its most recent 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 quarter. GAMMA Investing LLC owned 0.06% of United Bankshares worth $2,832,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in United Bankshares in the fourth quarter worth approximately $26,000. Jones Financial Companies Lllp raised its position in United Bankshares by 55.8% in the 4th 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 during the period. Wilmington Savings Fund Society FSB lifted its stake in 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 during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in United Bankshares by 37.0% during 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 buying an additional 400 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in United Bankshares during the fourth quarter valued at about $85,000. 70.80% of the stock is currently owned by institutional investors.

United Bankshares Trading Down 3.0%

Shares of United Bankshares stock traded down $1.10 during trading on Friday, reaching $35.23. 551,101 shares of the stock were exchanged, compared to its average volume of 632,838. United Bankshares, Inc. has a 1 year low of $30.51 and a 1 year high of $44.43. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of 12.86 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. The stock's fifty day moving average is $35.09 and its 200 day moving average is $36.64.

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 for the quarter, missing analysts' consensus estimates of $0.66 by ($0.07). The business had revenue of $289.61 million during the quarter, compared to the consensus estimate of $279.02 million. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. United Bankshares's quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 earnings per share. As a group, equities research analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The company also recently announced 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. This represents a $1.48 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend is Friday, June 13th. United Bankshares's dividend payout ratio is currently 55.02%.

Insider Activity

In other news, Director Sara Dumond purchased 2,600 shares of United Bankshares stock in a transaction that occurred on 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 completion of the purchase, the director now directly owns 5,054 shares in the company, valued at approximately $176,940.54. This trade represents a 105.95% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.46% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods lowered their target price on United Bankshares from $42.00 to $40.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. Piper Sandler reaffirmed a "neutral" rating and issued a $38.50 price target on shares of United Bankshares in a research note on Wednesday, March 12th. Finally, Wall Street Zen lowered United Bankshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to MarketBeat.com, United Bankshares currently has an average rating of "Hold" and an average price target 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.