Short Interest in United Bankshares, Inc. (NASDAQ:UBSI) Expands By 19.0%

United Bankshares, Inc. (NASDAQ:UBSI) saw a large 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. Based on an average daily trading volume, of 520,100 shares, the short-interest ratio is presently 5.4 days. Approximately 2.1% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

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

United Bankshares Trading Down 1.5 %

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

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

United Bankshares Dividend Announcement

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

Insider Buying and Selling

In other news, Director Peter A. Converse sold 5,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $40.00, for a total value of $200,000.00. Following the completion of the sale, the director now directly 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 link. Also, Director Mark R. Nesselroad sold 6,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $39.16, for a total transaction of $234,960.00. Following the transaction, the director now owns 35,424 shares in the company, valued at $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. In the last three months, insiders have sold 13,500 shares of company stock worth $542,110. Insiders own 3.66% of the company’s stock.

Hedge Funds Weigh In On United Bankshares

A number of hedge funds have recently modified their holdings of UBSI. ProShare Advisors LLC lifted its position in United Bankshares by 110.4% in the second quarter. ProShare Advisors LLC now owns 2,206,434 shares of the financial services provider’s stock valued at $71,577,000 after buying an additional 1,157,579 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of United Bankshares by 16.7% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,558,081 shares of the financial services provider’s stock valued at $57,805,000 after acquiring an additional 223,150 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of United Bankshares in the 3rd quarter worth approximately $6,186,000. Dimensional Fund Advisors LP lifted its holdings in shares of United Bankshares by 1.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,907,665 shares of the financial services provider’s stock worth $256,521,000 after acquiring an additional 142,545 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of United Bankshares by 89.5% during the 3rd quarter. Barclays PLC now owns 269,852 shares of the financial services provider’s stock worth $10,012,000 after purchasing an additional 127,486 shares during the period. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

United Bankshares Company 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.