United Bankshares, Inc. (NASDAQ:UBSI – Get Free Report) was the recipient of a significant growth in short interest in July. As of July 31st, there was short interest totalling 7,640,000 shares, a growth of 31.5% from the July 15th total of 5,810,000 shares. Currently, 5.8% of the company’s stock are sold short. Based on an average daily trading volume, of 1,050,000 shares, the days-to-cover ratio is presently 7.3 days.
United Bankshares Trading Up 0.6 %
UBSI stock opened at $33.30 on Monday. The firm has a market cap of $4.49 billion, a P/E ratio of 11.44 and a beta of 1.02. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.47. United Bankshares has a 1-year low of $27.68 and a 1-year high of $44.15. The business’s 50 day moving average is $31.43 and its 200-day moving average is $34.03.
United Bankshares (NASDAQ:UBSI – Get Free Report) last issued its earnings results on Thursday, July 27th. The financial services provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.66 by $0.02. The company had revenue of $381.11 million during the quarter, compared to analysts’ expectations of $259.14 million. United Bankshares had a net margin of 28.52% and a return on equity of 8.64%. During the same quarter in the previous year, the company posted $0.71 EPS. Equities analysts anticipate that United Bankshares will post 2.68 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
View Our Latest Analysis on UBSI
Insider Buying and Selling at United Bankshares
In other news, Director Lacy I. Rice III acquired 10,000 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were purchased at an average price of $29.43 per share, for a total transaction of $294,300.00. Following the completion of the purchase, the director now directly owns 33,261 shares of the company’s stock, valued at approximately $978,871.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought 10,600 shares of company stock worth $312,711 over the last quarter. 4.37% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On United Bankshares
Several institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC bought a new stake in United Bankshares in the 2nd quarter valued at $921,000. Credit Suisse AG lifted its position in United Bankshares by 5.4% in the 2nd quarter. Credit Suisse AG now owns 170,433 shares of the financial services provider’s stock valued at $5,057,000 after acquiring an additional 8,720 shares in the last quarter. Kestra Advisory Services LLC increased its stake in United Bankshares by 60.5% in the 2nd quarter. Kestra Advisory Services LLC now owns 12,161 shares of the financial services provider’s stock valued at $361,000 after buying an additional 4,584 shares during the last quarter. Franklin Resources Inc. increased its stake in United Bankshares by 75.7% in the 2nd quarter. Franklin Resources Inc. now owns 156,374 shares of the financial services provider’s stock valued at $4,640,000 after buying an additional 67,351 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in United Bankshares in the 2nd quarter valued at $367,000. 69.61% of the stock is owned by institutional investors.
About United Bankshares
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, NOW accounts, and interest-bearing checking accounts.
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