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

United Bankshares, Inc. (NASDAQ:UBSI) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 2,820,000 shares, a growth of 19.0% from the November 30th total of 2,370,000 shares. Based on an average daily volume of 520,100 shares, the days-to-cover ratio is currently 5.4 days. Approximately 2.1% of the shares of the company are short sold.

United Bankshares Price Performance

Shares of United Bankshares stock traded down $0.23 on Monday, hitting $37.64. 301,657 shares of the company traded hands, compared to its average volume of 524,808. United Bankshares has a 12-month low of $30.68 and a 12-month high of $44.43. 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 company has a market cap of $5.09 billion, a P/E ratio of 14.26 and a beta of 1.01. The firm’s 50-day simple moving average is $40.21 and its 200 day simple moving average is $37.40.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. United Bankshares had a return on equity of 7.58% and a net margin of 22.05%. The business had revenue of $414.67 million for the quarter, compared to the consensus estimate of $260.30 million. During the same quarter last year, the business posted $0.71 earnings per share. Analysts expect that United Bankshares will post 2.73 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 Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Friday, December 13th. United Bankshares’s payout ratio is currently 56.06%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, Director J Paul Mcnamara sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $42.86, for a total transaction of $107,150.00. Following the sale, the director now owns 63,409 shares of the company’s stock, valued at approximately $2,717,709.74. This represents a 3.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark R. Nesselroad sold 6,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $39.16, for a total transaction of $234,960.00. Following the completion of the transaction, the director now directly owns 35,424 shares of the company’s stock, valued at approximately $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. Insiders sold 13,500 shares of company stock worth $542,110 over the last quarter. 3.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On United Bankshares

A number of hedge funds have recently made changes to their positions in UBSI. UMB Bank n.a. grew its holdings in shares of United Bankshares by 237.6% during the 3rd quarter. UMB Bank n.a. now owns 844 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 594 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of United Bankshares by 34.6% in the third quarter. GAMMA Investing LLC now owns 2,079 shares of the financial services provider’s stock worth $77,000 after buying an additional 534 shares during the period. Marathon Strategic Advisors LLC bought a new stake in shares of United Bankshares in the 3rd quarter valued at about $206,000. Quest Partners LLC lifted its stake in shares of United Bankshares by 377.2% in the 3rd quarter. Quest Partners LLC now owns 5,641 shares of the financial services provider’s stock valued at $209,000 after acquiring an additional 4,459 shares during the last quarter. Finally, Centiva Capital LP purchased a new stake in United Bankshares during the 3rd quarter valued at about $213,000. 70.80% of the stock is currently owned by institutional investors.

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.