Short Interest in United Bankshares, Inc. (NASDAQ:UBSI) Declines By 17.1%

United Bankshares, Inc. (NASDAQ:UBSI) was the recipient of a large decrease in short interest during the month of February. As of February 15th, there was short interest totalling 2,180,000 shares, a decrease of 17.1% from the January 31st total of 2,630,000 shares. Based on an average trading volume of 595,400 shares, the short-interest ratio is currently 3.7 days. Currently, 1.7% of the shares of the stock are sold short.

Insider Activity at United Bankshares

In other United Bankshares news, Director Mark R. Nesselroad sold 6,000 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $39.16, for a total transaction of $234,960.00. Following the sale, the director now owns 35,424 shares in the company, valued at approximately $1,387,203.84. This represents a 14.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On United Bankshares

Large investors have recently modified their holdings of the stock. State of Alaska Department of Revenue raised its stake in United Bankshares by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 15,634 shares of the financial services provider’s stock valued at $580,000 after buying an additional 1,060 shares in the last quarter. CWA Asset Management Group LLC bought a new position in United Bankshares during the third quarter worth $461,000. Atria Investments Inc lifted its stake in United Bankshares by 6.2% during the third quarter. Atria Investments Inc now owns 36,819 shares of the financial services provider’s stock worth $1,366,000 after purchasing an additional 2,163 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in United Bankshares by 23.4% in the third quarter. Los Angeles Capital Management LLC now owns 10,813 shares of the financial services provider’s stock worth $401,000 after purchasing an additional 2,051 shares during the period. Finally, Versor Investments LP bought a new stake in United Bankshares during the third quarter valued at $393,000. Institutional investors own 70.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on UBSI shares. StockNews.com downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Monday, January 27th. Stephens reaffirmed an “equal weight” rating and issued a $43.00 price objective on shares of United Bankshares in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of United Bankshares from $46.00 to $45.00 and set a “market perform” rating on the stock in a research report on Monday, January 27th.

United Bankshares Stock Down 0.1 %

NASDAQ UBSI traded down $0.05 during mid-day trading on Wednesday, reaching $35.18. 231,623 shares of the company’s stock traded hands, compared to its average volume of 514,814. 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 has a 1-year low of $30.68 and a 1-year high of $44.43. The company has a fifty day simple moving average of $37.57 and a 200-day simple moving average of $38.38. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 12.80 and a beta of 1.02.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. During the same quarter in the prior year, the company earned $0.59 earnings per share. As a group, equities research analysts expect that United Bankshares will post 2.81 EPS for the current year.

United Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.21%. United Bankshares’s dividend payout ratio (DPR) is presently 54.01%.

About United Bankshares

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.