United Bankshares, Inc. (NASDAQ:UBSI) Position Reduced by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC decreased its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 28.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,918 shares of the financial services provider’s stock after selling 20,497 shares during the period. Cubist Systematic Strategies LLC’s holdings in United Bankshares were worth $1,950,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in United Bankshares in the 4th quarter valued at about $54,712,000. Raymond James Financial Inc. acquired a new stake in United Bankshares in the 4th quarter valued at about $14,948,000. JPMorgan Chase & Co. lifted its holdings in United Bankshares by 39.7% in the 4th quarter. JPMorgan Chase & Co. now owns 830,774 shares of the financial services provider’s stock valued at $31,196,000 after acquiring an additional 235,955 shares during the last quarter. Northern Trust Corp lifted its holdings in United Bankshares by 13.7% in the 4th quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider’s stock valued at $66,614,000 after acquiring an additional 213,441 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in United Bankshares in the 4th quarter valued at about $7,383,000. Institutional investors own 70.80% of the company’s stock.

Insider Activity at United Bankshares

In other United Bankshares news, Director Sara Dumond purchased 2,600 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were purchased at an average cost of $35.01 per share, with a total value of $91,026.00. Following the completion of the transaction, the director now owns 5,054 shares of the company’s stock, valued at approximately $176,940.54. This represents a 105.95% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.46% of the stock is owned by insiders.

United Bankshares Stock Performance

United Bankshares stock opened at $35.52 on Monday. The firm’s 50 day simple moving average is $34.06 and its 200-day simple moving average is $37.28. The company has a market cap of $5.10 billion, a P/E ratio of 12.96 and a beta of 0.74. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. United Bankshares, Inc. has a fifty-two week low of $30.51 and a fifty-two week high of $44.43.

United Bankshares (NASDAQ:UBSI) last released its earnings results 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 firm had revenue of $289.61 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business earned $0.64 earnings per share. As a group, equities research 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 was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.17%. The ex-dividend date was Friday, March 14th. United Bankshares’s payout ratio is 55.02%.

Analysts Set New Price Targets

A number of brokerages have weighed in on UBSI. Stephens reissued an “equal weight” rating and issued a $43.00 price target on shares of United Bankshares in a report on Monday, January 27th. StockNews.com lowered United Bankshares from a “hold” rating to a “sell” rating in a research note on Monday, January 27th. Piper Sandler reissued a “neutral” rating and set a $38.50 price objective on shares of United Bankshares in a research note on Wednesday, March 12th. Finally, Keefe, Bruyette & Woods reduced their price objective 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. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, United Bankshares currently has a consensus rating of “Hold” and an average price target 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.