United Bankshares (NASDAQ:UBSI) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of United Bankshares, Inc. (NASDAQ:UBSI) saw strong trading volume on Wednesday . 1,392,976 shares changed hands during mid-day trading, an increase of 120% from the previous session’s volume of 631,983 shares.The stock last traded at $35.14 and had previously closed at $35.39.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. StockNews.com cut United Bankshares from a “hold” rating to a “sell” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods dropped their price objective on shares of United Bankshares from $46.00 to $45.00 and set a “market perform” rating on the stock in a research note on Monday, January 27th. Finally, Stephens reiterated an “equal weight” rating and set a $43.00 price objective on shares of United Bankshares in a research note on Monday, January 27th.

United Bankshares Stock Performance

The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $4.74 billion, a PE ratio of 12.78 and a beta of 1.02. The stock’s 50 day moving average price is $37.79 and its two-hundred day moving average price is $38.38.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. During the same quarter in the previous year, the company earned $0.59 earnings per share. On average, equities analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.22%. The ex-dividend date is Friday, March 14th. United Bankshares’s payout ratio is presently 54.01%.

Insiders Place Their Bets

In other United Bankshares news, Director Mark R. Nesselroad sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $39.16, for a total value of $234,960.00. Following the sale, the director now owns 35,424 shares of the company’s stock, valued at $1,387,203.84. This trade represents a 14.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in United Bankshares during the 4th quarter valued at about $26,000. Jones Financial Companies Lllp increased its holdings in shares of United Bankshares by 55.8% during the 4th quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider’s stock worth $33,000 after buying an additional 310 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in United Bankshares by 1,921.1% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider’s stock valued at $54,000 after buying an additional 1,364 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in United Bankshares by 37.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider’s stock worth $56,000 after buying an additional 400 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in United Bankshares in the fourth quarter worth $85,000. Institutional investors own 70.80% of the company’s stock.

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.