United Bankshares, Inc. (NASDAQ:UBSI) Sees Significant Increase in Short Interest

United Bankshares, Inc. (NASDAQ:UBSI) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 9,679,000 shares, a growth of 7.0% from the May 15th total of 9,049,800 shares. Approximately 9.7% of the company’s stock are short sold. Based on an average daily volume of 425,500 shares, the days-to-cover ratio is currently 22.7 days.

Shares of UBSI traded up $0.31 during midday trading on Friday, reaching $36.59. The stock had a trading volume of 253,977 shares, compared to its average volume of 382,025. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.02 and a current ratio of 1.04. The business has a fifty day moving average price of $36.76. The firm has a market capitalization of $3.74 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 1.81 and a beta of 1.23. United Bankshares has a 1-year low of $29.13 and a 1-year high of $39.95.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.01. United Bankshares had a net margin of 29.74% and a return on equity of 7.93%. The company had revenue of $176.38 million for the quarter, compared to the consensus estimate of $174.76 million. During the same period last year, the firm posted $0.59 EPS. United Bankshares’s revenue for the quarter was up .0% on a year-over-year basis. Research analysts expect that United Bankshares will post 2.53 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Thursday, June 13th. United Bankshares’s dividend payout ratio (DPR) is 55.51%.

A number of brokerages have weighed in on UBSI. Zacks Investment Research upgraded shares of Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Friday. Boenning Scattergood reaffirmed an “outperform” rating and set a $47.75 price objective on shares of WSFS Financial in a research note on Thursday, June 20th. Finally, BidaskClub cut shares of Xilinx from a “buy” rating to a “hold” rating in a research note on Saturday, June 15th.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Navellier & Associates Inc lifted its holdings in United Bankshares by 21.2% in the 2nd quarter. Navellier & Associates Inc now owns 18,711 shares of the financial services provider’s stock valued at $694,000 after acquiring an additional 3,269 shares during the last quarter. Toth Financial Advisory Corp lifted its holdings in United Bankshares by 912.8% in the 2nd quarter. Toth Financial Advisory Corp now owns 11,738 shares of the financial services provider’s stock valued at $435,000 after acquiring an additional 10,579 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in United Bankshares by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 42,108 shares of the financial services provider’s stock valued at $1,562,000 after acquiring an additional 584 shares during the last quarter. Ridgewood Investments LLC lifted its stake in United Bankshares by 13.4% during the second quarter. Ridgewood Investments LLC now owns 7,933 shares of the financial services provider’s stock valued at $294,000 after buying an additional 938 shares in the last quarter. Finally, First National Bank of Omaha lifted its stake in United Bankshares by 0.3% during the second quarter. First National Bank of Omaha now owns 136,051 shares of the financial services provider’s stock valued at $5,046,000 after buying an additional 459 shares in the last quarter. Hedge funds and other institutional investors own 72.75% of the company’s stock.

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, and NOW accounts.

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