United Bankshares, Inc. $UBSI Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC decreased its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 49.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 138,716 shares of the financial services provider’s stock after selling 134,758 shares during the period. Squarepoint Ops LLC owned approximately 0.10% of United Bankshares worth $5,053,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameritas Advisory Services LLC bought a new position in shares of United Bankshares in the second quarter valued at approximately $25,000. Hantz Financial Services Inc. lifted its position in United Bankshares by 261.8% in the second quarter. Hantz Financial Services Inc. now owns 749 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 542 shares during the period. Signaturefd LLC lifted its position in United Bankshares by 2,281.0% in the second quarter. Signaturefd LLC now owns 1,000 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 958 shares during the period. EverSource Wealth Advisors LLC boosted its stake in United Bankshares by 528.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 988 shares in the last quarter. Finally, Allworth Financial LP increased its position in shares of United Bankshares by 394.1% during the 2nd quarter. Allworth Financial LP now owns 1,265 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 1,009 shares during the period. 70.80% of the stock is currently owned by institutional investors.

United Bankshares Price Performance

Shares of UBSI opened at $39.66 on Tuesday. The business’s 50-day moving average is $36.76 and its 200-day moving average is $36.90. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 13.00 and a beta of 0.81. United Bankshares, Inc. has a fifty-two week low of $30.50 and a fifty-two week high of $41.13.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.10. The firm had revenue of $280.90 million for the quarter, compared to analyst estimates of $307.78 million. United Bankshares had a net margin of 24.37% and a return on equity of 8.15%. During the same quarter in the prior year, the business earned $0.70 EPS. Equities research analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 12th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, December 12th. This is a positive change from United Bankshares’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a yield of 3.8%. United Bankshares’s payout ratio is 49.84%.

Analyst Ratings Changes

Several analysts have recently weighed in on UBSI shares. Weiss Ratings restated a “hold (c+)” rating on shares of United Bankshares in a report on Monday, December 8th. Zacks Research raised shares of United Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. Finally, Piper Sandler set a $42.50 target price on shares of United Bankshares and gave the stock an “overweight” rating in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, United Bankshares has an average rating of “Moderate Buy” and an average price target of $41.83.

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.