Jane Street Group LLC Buys New Shares in United Bankshares, Inc. (NASDAQ:UBSI)

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Jane Street Group LLC bought a new stake in United Bankshares, Inc. (NASDAQ:UBSI) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,392 shares of the financial services provider’s stock, valued at approximately $274,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Northern Trust Corp grew its position in shares of United Bankshares by 0.3% in the 1st quarter. Northern Trust Corp now owns 2,856,393 shares of the financial services provider’s stock valued at $103,516,000 after acquiring an additional 9,607 shares during the period. Bank of New York Mellon Corp grew its position in shares of United Bankshares by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,400,515 shares of the financial services provider’s stock valued at $51,944,000 after acquiring an additional 9,420 shares during the period. Silvercrest Asset Management Group LLC grew its position in shares of United Bankshares by 3.3% in the 2nd quarter. Silvercrest Asset Management Group LLC now owns 1,150,550 shares of the financial services provider’s stock valued at $42,674,000 after acquiring an additional 36,975 shares during the period. JPMorgan Chase & Co. grew its position in shares of United Bankshares by 46.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 956,448 shares of the financial services provider’s stock valued at $35,197,000 after acquiring an additional 303,402 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of United Bankshares by 5.7% in the 1st quarter. Wells Fargo & Company MN now owns 899,172 shares of the financial services provider’s stock valued at $32,586,000 after acquiring an additional 48,586 shares during the period. 70.02% of the stock is owned by institutional investors and hedge funds.

NASDAQ UBSI opened at $37.94 on Friday. The firm has a 50-day moving average of $37.50 and a 200-day moving average of $37.24. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.01 and a current ratio of 1.04. The stock has a market cap of $3.87 billion, a PE ratio of 15.49 and a beta of 1.23. United Bankshares, Inc. has a 52-week low of $29.13 and a 52-week high of $39.98.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The company had revenue of $190.35 million during the quarter, compared to analysts’ expectations of $183.29 million. United Bankshares had a net margin of 29.01% and a return on equity of 7.90%. During the same quarter last year, the company posted $0.63 EPS. As a group, analysts predict that United Bankshares, Inc. will post 2.53 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date was Thursday, September 12th. United Bankshares’s dividend payout ratio is presently 55.51%.

UBSI has been the subject of a number of analyst reports. Boenning Scattergood reissued a “neutral” rating on shares of United Bankshares in a research report on Thursday, June 20th. ValuEngine downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised shares of United Bankshares from a “sell” rating to a “hold” rating in a research report on Friday. Finally, BidaskClub downgraded shares of United Bankshares from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th.

In related news, Director Mary K. Weddle bought 2,300 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $35.19 per share, for a total transaction of $80,937.00. Following the purchase, the director now owns 11,776 shares in the company, valued at approximately $414,397.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.62% of the company’s stock.

United Bankshares Company Profile

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, and NOW accounts.

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Institutional Ownership by Quarter for United Bankshares (NASDAQ:UBSI)

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