Verition Fund Management LLC Has $494,000 Position in United Bankshares, Inc. (UBSI)
Verition Fund Management LLC cut its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 74.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,203 shares of the financial services provider’s stock after selling 40,805 shares during the quarter. Verition Fund Management LLC’s holdings in United Bankshares were worth $494,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in United Bankshares by 42.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,765 shares of the financial services provider’s stock valued at $200,000 after acquiring an additional 1,712 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in United Bankshares in the 3rd quarter valued at approximately $216,000. Engineers Gate Manager LP bought a new position in United Bankshares in the 3rd quarter valued at approximately $241,000. Tyers Asset Management LLC raised its stake in United Bankshares by 32.8% during the 4th quarter. Tyers Asset Management LLC now owns 7,248 shares of the financial services provider’s stock valued at $252,000 after buying an additional 1,792 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in United Bankshares during the 4th quarter valued at $264,000. 68.82% of the stock is currently owned by institutional investors and hedge funds.
Shares of United Bankshares, Inc. (UBSI) opened at $35.65 on Friday. The firm has a market cap of $3,860.29, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 1.84 and a beta of 1.05. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.02 and a current ratio of 1.04. United Bankshares, Inc. has a 12 month low of $31.70 and a 12 month high of $42.85.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be paid a $0.34 dividend. The ex-dividend date is Thursday, March 8th. This represents a $1.36 annualized dividend and a dividend yield of 3.81%. United Bankshares’s dividend payout ratio (DPR) is 87.18%.
A number of equities research analysts have weighed in on the stock. BidaskClub lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Friday, March 2nd. Sandler O’Neill set a $38.00 target price on shares of United Bankshares and gave the company a “hold” rating in a research note on Thursday, January 4th. Zacks Investment Research lowered shares of United Bankshares from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Finally, TheStreet upgraded shares of United Bankshares from a “c+” rating to a “b-” rating in a research note on Wednesday, February 21st. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $41.33.
In other news, Director Peter A. Converse sold 69,020 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $37.03, for a total value of $2,555,810.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael P. Fitzgerald sold 27,000 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $37.05, for a total value of $1,000,350.00. The disclosure for this sale can be found here. Insiders sold a total of 118,520 shares of company stock valued at $4,405,311 over the last 90 days. 6.23% of the stock is currently owned by company insiders.
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United Bankshares Profile
United Bankshares, Inc (United) is a bank holding company. The Company operates through community banking segment. United’s Banking Subsidiaries offer a range of commercial and retail banking services and products. United, through its subsidiaries, engages in community banking and offers banking products and services permitted by law and regulation.
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