Qube Research & Technologies Ltd Purchases New Position in United Bankshares, Inc. (NASDAQ:UBSI)

Qube Research & Technologies Ltd purchased a new stake in United Bankshares, Inc. (NASDAQ:UBSIFree Report) in the third quarter, HoldingsChannel reports. The institutional investor purchased 304,465 shares of the financial services provider’s stock, valued at approximately $8,400,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of UBSI. Synovus Financial Corp raised its holdings in shares of United Bankshares by 15.7% in the third quarter. Synovus Financial Corp now owns 16,061 shares of the financial services provider’s stock valued at $443,000 after buying an additional 2,184 shares during the last quarter. Trexquant Investment LP raised its holdings in shares of United Bankshares by 119.6% in the third quarter. Trexquant Investment LP now owns 27,142 shares of the financial services provider’s stock valued at $749,000 after buying an additional 14,785 shares during the last quarter. MQS Management LLC increased its stake in shares of United Bankshares by 33.6% during the third quarter. MQS Management LLC now owns 10,237 shares of the financial services provider’s stock worth $282,000 after acquiring an additional 2,573 shares during the period. Natixis Advisors L.P. increased its stake in shares of United Bankshares by 16.9% during the third quarter. Natixis Advisors L.P. now owns 120,049 shares of the financial services provider’s stock worth $3,313,000 after acquiring an additional 17,392 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of United Bankshares by 84.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 330,357 shares of the financial services provider’s stock worth $9,115,000 after acquiring an additional 151,391 shares during the period. 71.63% of the stock is owned by hedge funds and other institutional investors.

United Bankshares Stock Performance

UBSI stock opened at $33.87 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $4.57 billion, a P/E ratio of 12.50 and a beta of 1.00. The firm has a 50 day simple moving average of $36.04 and a 200 day simple moving average of $32.40. United Bankshares, Inc. has a 52 week low of $25.35 and a 52 week high of $40.38.

United Bankshares (NASDAQ:UBSIGet Free Report) last posted its earnings results on Friday, January 26th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. The firm had revenue of $402.85 million during the quarter, compared to analysts’ expectations of $258.98 million. United Bankshares had a net margin of 23.84% and a return on equity of 8.05%. During the same period in the previous year, the company earned $0.74 earnings per share. Research analysts anticipate that United Bankshares, Inc. will post 2.64 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 8th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date is Thursday, March 7th. United Bankshares’s payout ratio is 54.61%.

Analysts Set New Price Targets

Separately, Raymond James boosted their price target on shares of United Bankshares from $38.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $36.00.

Read Our Latest Stock Report on UBSI

United Bankshares Company Profile

(Free Report)

United Bankshares, Inc, a financial holding company, 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, NOW accounts, and interest-bearing checking accounts.

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Institutional Ownership by Quarter for United Bankshares (NASDAQ:UBSI)

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