AXQ Capital LP Takes Position in United Bankshares, Inc. $UBSI

AXQ Capital LP acquired a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 14,392 shares of the financial services provider’s stock, valued at approximately $553,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in United Bankshares by 4.6% during the 4th quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider’s stock valued at $634,000 after purchasing an additional 748 shares in the last quarter. Royal Bank of Canada raised its stake in shares of United Bankshares by 2.0% in the 1st quarter. Royal Bank of Canada now owns 66,649 shares of the financial services provider’s stock worth $2,310,000 after buying an additional 1,298 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of United Bankshares by 464.1% in the first quarter. Millennium Management LLC now owns 137,336 shares of the financial services provider’s stock valued at $4,761,000 after buying an additional 112,988 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of United Bankshares by 7.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 409,428 shares of the financial services provider’s stock valued at $14,195,000 after buying an additional 28,366 shares during the period. Finally, Jane Street Group LLC boosted its stake in United Bankshares by 564.0% during the first quarter. Jane Street Group LLC now owns 182,540 shares of the financial services provider’s stock valued at $6,329,000 after buying an additional 155,051 shares in the last quarter. Institutional investors own 70.80% of the company’s stock.

United Bankshares Stock Down 2.1%

Shares of United Bankshares stock opened at $42.58 on Thursday. United Bankshares, Inc. has a 12-month low of $34.10 and a 12-month high of $45.92. The firm has a market capitalization of $5.87 billion, a PE ratio of 11.93 and a beta of 0.71. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10. The stock’s fifty day moving average is $42.91 and its 200-day moving average is $41.27.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. The business had revenue of $316.58 million during the quarter, compared to analyst estimates of $315.15 million. United Bankshares had a return on equity of 9.26% and a net margin of 27.45%.During the same quarter last year, the company posted $0.59 EPS. Equities analysts anticipate that United Bankshares, Inc. will post 3.64 earnings per share for the current year.

United Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, June 12th. United Bankshares’s dividend payout ratio (DPR) is presently 42.58%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on UBSI shares. Weiss Ratings raised United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. Zacks Research downgraded shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Finally, Raymond James Financial restated an “outperform” rating and set a $49.00 price objective on shares of United Bankshares in a research report on Monday, April 27th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $45.75.

United Bankshares Company Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.