United Bankshares, Inc. (NASDAQ:UBSI) Stock Position Decreased by Voloridge Investment Management LLC

Voloridge Investment Management LLC trimmed its stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 64.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 37,945 shares of the financial services provider's stock after selling 67,478 shares during the quarter. Voloridge Investment Management LLC's holdings in United Bankshares were worth $1,425,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in UBSI. SBI Securities Co. Ltd. acquired a new stake in shares of United Bankshares in the 4th quarter worth about $26,000. Jones Financial Companies Lllp grew 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 last quarter. Wilmington Savings Fund Society FSB grew its position in United Bankshares by 1,921.1% in the 4th 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. increased its stake 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 valued at $56,000 after purchasing an additional 400 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of United Bankshares during the fourth quarter valued at approximately $85,000. 70.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Piper Sandler reissued a "neutral" rating and issued a $38.50 price objective on shares of United Bankshares in a report on Wednesday, March 12th. Keefe, Bruyette & Woods decreased their price target 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. Finally, Wall Street Zen cut shares of United Bankshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $40.63.

Insider Buying and Selling at United Bankshares

In other United Bankshares news, Director Sara Dumond acquired 2,600 shares of the stock in a transaction dated Monday, March 24th. The shares were bought at an average price 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 approximately $176,940.54. This trade represents a 105.95% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.46% of the stock is owned by corporate insiders.

United Bankshares Price Performance

NASDAQ:UBSI traded down $0.29 during midday trading on Monday, hitting $35.85. 452,884 shares of the stock were exchanged, compared to its average volume of 631,603. The company has a market capitalization of $5.09 billion, a price-to-earnings ratio of 13.08 and a beta of 0.74. 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. The business has a 50-day moving average price of $34.65 and a two-hundred day moving average price of $36.90.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.07). The firm had revenue of $289.61 million for the quarter, compared to analyst estimates of $279.02 million. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. The firm's revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 earnings per share. Sell-side analysts predict 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. Shareholders of record on Friday, June 13th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Friday, June 13th. United Bankshares's dividend payout ratio (DPR) is presently 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.