Nisa Investment Advisors LLC Sells 2,423 Shares of United Bankshares, Inc. $UBSI

Nisa Investment Advisors LLC decreased its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 42.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,240 shares of the financial services provider’s stock after selling 2,423 shares during the period. Nisa Investment Advisors LLC’s holdings in United Bankshares were worth $119,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in UBSI. Nuveen LLC bought a new position in shares of United Bankshares during the first quarter valued at approximately $28,526,000. Jacobs Levy Equity Management Inc. bought a new position in shares of United Bankshares during the first quarter valued at approximately $10,856,000. Jane Street Group LLC increased its stake in shares of United Bankshares by 564.0% during the first quarter. Jane Street Group LLC now owns 182,540 shares of the financial services provider’s stock valued at $6,329,000 after purchasing an additional 155,051 shares in the last quarter. Millennium Management LLC increased its stake in shares of United Bankshares by 464.1% during the first quarter. Millennium Management LLC now owns 137,336 shares of the financial services provider’s stock valued at $4,761,000 after purchasing an additional 112,988 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in shares of United Bankshares by 199.6% during the first quarter. Cubist Systematic Strategies LLC now owns 155,550 shares of the financial services provider’s stock valued at $5,393,000 after purchasing an additional 103,632 shares in the last quarter. Institutional investors own 70.80% of the company’s stock.

United Bankshares Price Performance

Shares of UBSI opened at $36.00 on Wednesday. The company has a market capitalization of $5.10 billion, a P/E ratio of 11.80 and a beta of 0.76. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $36.97 and a 200 day moving average of $36.55. United Bankshares, Inc. has a twelve month low of $30.50 and a twelve month high of $44.43.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.10. The company had revenue of $324.10 million during the quarter, compared to the consensus estimate of $307.78 million. United Bankshares had a net margin of 24.37% and a return on equity of 8.15%. During the same quarter last year, the firm earned $0.70 earnings per share. As a group, equities research analysts anticipate that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Friday, September 12th. United Bankshares’s payout ratio is 48.52%.

Analyst Ratings Changes

A number of brokerages have weighed in on UBSI. Piper Sandler set a $42.50 target price on shares of United Bankshares and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of United Bankshares in a research note on Thursday, October 30th. Finally, Zacks Research raised shares of United Bankshares to a “hold” rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $41.83.

United Bankshares 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.