United Bankshares, Inc. (NASDAQ:UBSI) Short Interest Up 33.0% in May

United Bankshares, Inc. (NASDAQ:UBSIGet Rating) was the recipient of a large growth in short interest in May. As of May 15th, there was short interest totalling 4,470,000 shares, a growth of 33.0% from the April 30th total of 3,360,000 shares. Approximately 3.4% of the shares of the company are sold short. Based on an average daily volume of 806,600 shares, the short-interest ratio is currently 5.5 days.

In related news, Chairman Richard M. Sr Adams, Sr. acquired 7,776 shares of United Bankshares stock in a transaction dated Friday, April 29th. The stock was purchased at an average cost of $33.60 per share, for a total transaction of $261,273.60. Following the purchase, the chairman now directly owns 20,557 shares of the company’s stock, valued at approximately $690,715.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.22% of the company’s stock.

Several large investors have recently modified their holdings of the company. State Street Corp boosted its stake in shares of United Bankshares by 24.5% during the first quarter. State Street Corp now owns 14,156,275 shares of the financial services provider’s stock valued at $498,550,000 after purchasing an additional 2,782,694 shares in the last quarter. River Oaks Capital LLC acquired a new stake in United Bankshares in the fourth quarter valued at approximately $2,569,000. JPMorgan Chase & Co. boosted its stake in United Bankshares by 572.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,820,632 shares of the financial services provider’s stock valued at $66,052,000 after acquiring an additional 1,549,906 shares in the last quarter. BlackRock Inc. boosted its stake in United Bankshares by 7.0% in the fourth quarter. BlackRock Inc. now owns 18,379,026 shares of the financial services provider’s stock valued at $666,792,000 after acquiring an additional 1,202,647 shares in the last quarter. Finally, Norges Bank acquired a new stake in United Bankshares in the fourth quarter valued at approximately $38,248,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently weighed in on the stock. Zacks Investment Research raised shares of United Bankshares from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Wednesday, May 25th. StockNews.com downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, March 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $39.33.

Shares of NASDAQ:UBSI opened at $37.36 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.18. United Bankshares has a 12 month low of $31.74 and a 12 month high of $42.00. The company has a 50-day moving average price of $34.88 and a 200 day moving average price of $35.96. The company has a market cap of $5.05 billion, a price-to-earnings ratio of 14.37 and a beta of 1.13.

United Bankshares (NASDAQ:UBSIGet Rating) last posted its quarterly earnings data on Tuesday, April 26th. The financial services provider reported $0.60 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.60. United Bankshares had a net margin of 33.45% and a return on equity of 7.55%. The company had revenue of $237.53 million for the quarter, compared to analyst estimates of $244.47 million. During the same period in the prior year, the company posted $0.40 EPS. The firm’s revenue for the quarter was up 1483.5% on a year-over-year basis. As a group, equities analysts forecast that United Bankshares will post 2.61 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 10th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend is Thursday, June 9th. United Bankshares’s dividend payout ratio (DPR) is presently 55.38%.

United Bankshares Company Profile (Get Rating)

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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