United Bankshares, Inc. (NASDAQ:UBSI) Short Interest Update

United Bankshares, Inc. (NASDAQ:UBSI) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 2,820,000 shares, an increase of 19.0% from the November 30th total of 2,370,000 shares. Currently, 2.1% of the shares of the company are sold short. Based on an average daily trading volume, of 520,100 shares, the short-interest ratio is currently 5.4 days.

United Bankshares Stock Performance

UBSI stock traded down $0.58 during trading on Friday, hitting $37.87. 380,682 shares of the company traded hands, compared to its average volume of 526,105. The company has a market cap of $5.12 billion, a PE ratio of 14.34 and a beta of 1.01. United Bankshares has a 1 year low of $30.68 and a 1 year high of $44.43. The stock’s 50-day simple moving average is $40.21 and its 200 day simple moving average is $37.36. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.96.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.03. The firm had revenue of $414.67 million during the quarter, compared to analysts’ expectations of $260.30 million. United Bankshares had a net margin of 22.05% and a return on equity of 7.58%. During the same period in the previous year, the business posted $0.71 EPS. On average, equities analysts expect that United Bankshares will post 2.73 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Friday, December 13th. United Bankshares’s dividend payout ratio (DPR) is presently 56.06%.

Insiders Place Their Bets

In related news, Director Peter A. Converse sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $40.00, for a total value of $200,000.00. Following the sale, the director now owns 434,769 shares in the company, valued at $17,390,760. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark R. Nesselroad sold 6,000 shares of United Bankshares stock in a transaction that occurred on Wednesday, December 18th. The shares were 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 of the company’s stock, valued at approximately $1,387,203.84. The trade was a 14.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,500 shares of company stock valued at $542,110. Insiders own 3.66% of the company’s stock.

Hedge Funds Weigh In On United Bankshares

Institutional investors and hedge funds have recently modified their holdings of the business. UMB Bank n.a. grew its holdings in United Bankshares by 237.6% in the third quarter. UMB Bank n.a. now owns 844 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 594 shares during the period. GAMMA Investing LLC lifted its position in shares of United Bankshares by 34.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,079 shares of the financial services provider’s stock valued at $77,000 after buying an additional 534 shares in the last quarter. Marathon Strategic Advisors LLC acquired a new stake in United Bankshares in the 3rd quarter valued at $206,000. Quest Partners LLC increased its holdings in United Bankshares by 377.2% in the 3rd quarter. Quest Partners LLC now owns 5,641 shares of the financial services provider’s stock worth $209,000 after acquiring an additional 4,459 shares in the last quarter. Finally, Centiva Capital LP acquired a new position in United Bankshares during the third quarter worth $213,000. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of United Bankshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $40.25.

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.