Voloridge Investment Management LLC Sells 67,478 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Voloridge Investment Management LLC lowered its holdings in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 64.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,945 shares of the financial services provider's stock after selling 67,478 shares during the period. Voloridge Investment Management LLC's holdings in United Bankshares were worth $1,425,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Systematic Financial Management LP lifted its holdings in United Bankshares by 2.2% during the 4th quarter. Systematic Financial Management LP now owns 399,732 shares of the financial services provider's stock worth $15,010,000 after buying an additional 8,704 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in United Bankshares during the 4th quarter worth approximately $93,000. ProShare Advisors LLC lifted its holdings in United Bankshares by 3.9% during the 4th quarter. ProShare Advisors LLC now owns 1,123,987 shares of the financial services provider's stock worth $42,206,000 after buying an additional 41,819 shares during the last quarter. Nomura Holdings Inc. bought a new position in United Bankshares during the 4th quarter worth approximately $671,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 buying an additional 11,711 shares during the last quarter. Hedge funds and other institutional investors own 70.80% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wall Street Zen downgraded United Bankshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Piper Sandler reiterated a "neutral" rating and set a $38.50 price target on shares of United Bankshares in a report on Wednesday, March 12th. Finally, Keefe, Bruyette & Woods lowered their target price 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. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, United Bankshares presently has an average rating of "Hold" and a consensus target price of $40.63.

Insider Buying and Selling at United Bankshares

In related 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 cost of $35.01 per share, for a total transaction of $91,026.00. Following the purchase, the director now owns 5,054 shares in the company, valued at approximately $176,940.54. This trade represents a 105.95% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.66% of the company's stock.

United Bankshares Stock Down 0.4%

NASDAQ UBSI traded down $0.13 on Friday, reaching $36.25. The stock had a trading volume of 764,629 shares, compared to its average volume of 632,731. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of 13.23 and a beta of 0.74. The business has a 50 day moving average price of $34.64 and a 200 day moving average price of $37.02. United Bankshares, Inc. has a 1 year low of $30.51 and a 1 year high of $44.43. 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 (NASDAQ:UBSI - Get Free Report) last released 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 company had revenue of $289.61 million for 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%. The business's revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 EPS. On average, analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.48 annualized dividend and a dividend yield of 4.08%. United Bankshares's dividend payout ratio is presently 55.02%.

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.