Cubist Systematic Strategies LLC Has $1.95 Million Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Cubist Systematic Strategies LLC reduced its position in United Bankshares, Inc. (NASDAQ:UBSI) by 28.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 51,918 shares of the financial services provider’s stock after selling 20,497 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in United Bankshares were worth $1,950,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in United Bankshares by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 14,310,562 shares of the financial services provider’s stock worth $537,362,000 after purchasing an additional 115,681 shares during the last quarter. Earnest Partners LLC raised its holdings in shares of United Bankshares by 0.7% during the 4th quarter. Earnest Partners LLC now owns 4,199,136 shares of the financial services provider’s stock valued at $157,678,000 after purchasing an additional 29,898 shares in the last quarter. Northern Trust Corp raised its holdings in shares of United Bankshares by 13.7% during 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 purchasing an additional 213,441 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of United Bankshares by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,710,588 shares of the financial services provider’s stock valued at $64,233,000 after purchasing an additional 37,532 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in shares of United Bankshares by 3.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,612,170 shares of the financial services provider’s stock valued at $60,538,000 after purchasing an additional 54,089 shares in the last quarter. 70.80% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at United Bankshares

In other news, Director Sara Dumond purchased 2,600 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were purchased at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the completion of the purchase, the director now directly owns 5,054 shares of the company’s stock, valued at approximately $176,940.54. The trade was a 105.95% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.46% of the stock is currently owned by corporate insiders.

United Bankshares Stock Down 0.8%

UBSI stock opened at $35.52 on Monday. 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 52-week low of $30.51 and a 52-week high of $44.43. The company has a 50-day moving average of $34.06 and a two-hundred day moving average of $37.28. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 12.96 and a beta of 0.74.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $279.02 million. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. The company’s revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 EPS. As a group, equities research analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 4.17%. United Bankshares’s payout ratio is 55.02%.

Analysts Set New Price Targets

UBSI has been the topic of a number of recent research reports. StockNews.com downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods reduced their target price on United Bankshares from $42.00 to $40.00 and set a “market perform” rating for the company in a report on Monday, April 28th. Piper Sandler restated a “neutral” rating and issued a $38.50 target price on shares of United Bankshares in a report on Wednesday, March 12th. Finally, Stephens restated an “equal weight” rating and issued a $43.00 target price on shares of United Bankshares in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, United Bankshares has an average 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.