Jane Street Group LLC Has $1.03 Million Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Jane Street Group LLC lessened its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 83.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,489 shares of the financial services provider’s stock after selling 134,000 shares during the period. Jane Street Group LLC’s holdings in United Bankshares were worth $1,032,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Truist Financial Corp increased its stake in United Bankshares by 69.8% in the fourth quarter. Truist Financial Corp now owns 22,916 shares of the financial services provider’s stock valued at $860,000 after purchasing an additional 9,418 shares in the last quarter. Barclays PLC boosted its stake in United Bankshares by 89.5% in the third quarter. Barclays PLC now owns 269,852 shares of the financial services provider’s stock valued at $10,012,000 after acquiring an additional 127,486 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in United Bankshares by 39.7% in the fourth quarter. JPMorgan Chase & Co. now owns 830,774 shares of the financial services provider’s stock valued at $31,196,000 after acquiring an additional 235,955 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of United Bankshares by 12.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,656 shares of the financial services provider’s stock valued at $214,000 after buying an additional 608 shares in the last quarter. Finally, Alpha Omega Wealth Management LLC purchased a new stake in shares of United Bankshares during the 4th quarter valued at approximately $250,000. Institutional investors own 70.80% of the company’s stock.

Insider Activity

In related news, Director Sara Dumond bought 2,600 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was bought at an average cost of $35.01 per share, with a total value of $91,026.00. Following the completion of the purchase, the director now owns 5,054 shares of the company’s stock, valued at approximately $176,940.54. The trade was a 105.95% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.46% of the company’s stock.

United Bankshares Trading Up 0.2%

NASDAQ:UBSI opened at $36.13 on Friday. The company’s 50 day moving average price is $34.48 and its 200-day moving average price is $37.23. United Bankshares, Inc. has a 52 week low of $30.51 and a 52 week high of $44.43. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 13.19 and a beta of 0.74.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.07). The company had revenue of $289.61 million for the quarter, compared to the consensus estimate of $279.02 million. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the company earned $0.64 EPS. On average, equities research analysts forecast that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.48 annualized dividend and a yield of 4.10%. United Bankshares’s payout ratio is presently 55.02%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Stephens restated an “equal weight” rating and set a $43.00 price target on shares of United Bankshares in a research report on Monday, January 27th. Keefe, Bruyette & Woods lowered their price target on shares of United Bankshares from $42.00 to $40.00 and set a “market perform” rating for the company in a research note on Monday, April 28th. Piper Sandler reaffirmed a “neutral” rating and set a $38.50 price objective on shares of United Bankshares in a research note on Wednesday, March 12th. Finally, Wall Street Zen downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $40.63.

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.