River Oaks Capital LLC Has $2.07 Million Stock Position in United Bankshares, Inc. (NASDAQ:UBSI)

River Oaks Capital LLC lowered its position in shares of United Bankshares, Inc. (NASDAQ:UBSI – Get Rating) by 16.4% during the first quarter, HoldingsChannel reports. The fund owned 59,200 shares of the financial services provider’s stock after selling 11,600 shares during the quarter. United Bankshares comprises about 2.0% of River Oaks Capital LLC’s portfolio, making the stock its 21st largest holding. River Oaks Capital LLC’s holdings in United Bankshares were worth $2,065,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of UBSI. Tudor Investment Corp Et Al bought a new stake in shares of United Bankshares in the 3rd quarter valued at about $1,264,000. LPL Financial LLC raised its stake in shares of United Bankshares by 6.8% in the third quarter. LPL Financial LLC now owns 76,881 shares of the financial services provider’s stock worth $2,797,000 after purchasing an additional 4,926 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of United Bankshares in the third quarter worth approximately $299,000. Cetera Advisors LLC raised its stake in shares of United Bankshares by 15.4% in the third quarter. Cetera Advisors LLC now owns 6,494 shares of the financial services provider’s stock worth $236,000 after purchasing an additional 866 shares during the last quarter. Finally, Balyasny Asset Management LLC bought a new position in shares of United Bankshares in the third quarter valued at approximately $1,313,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

NASDAQ:UBSI traded up $0.56 during mid-day trading on Monday, reaching $35.63. 21,531 shares of the company’s stock traded hands, compared to its average volume of 714,192. United Bankshares, Inc. has a 12-month low of $31.74 and a 12-month high of $39.79. The company has a 50 day moving average price of $35.36 and a 200-day moving average price of $35.73. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.90 and a quick ratio of 0.89. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 13.70 and a beta of 1.09.

United Bankshares (NASDAQ:UBSI – Get Rating) last posted its quarterly earnings results on Tuesday, April 26th. The financial services provider reported $0.60 earnings per share for the quarter, hitting the consensus estimate of $0.60. The company had revenue of $237.53 million for the quarter, compared to the consensus estimate of $244.47 million. United Bankshares had a return on equity of 7.55% and a net margin of 33.45%. The firm’s quarterly revenue was up 1483.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 EPS. As a group, analysts forecast that United Bankshares, Inc. will post 2.6 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Friday, June 10th were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, June 9th. This represents a $1.44 dividend on an annualized basis and a yield of 4.04%. United Bankshares’s dividend payout ratio is currently 55.38%.

In other United Bankshares news, Chairman Richard M. Sr Adams, Sr. purchased 7,776 shares of the business’s stock in a transaction on Friday, April 29th. The stock was acquired at an average price of $33.60 per share, for a total transaction of $261,273.60. Following the purchase, the chairman now owns 20,557 shares of the company’s stock, valued at approximately $690,715.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.22% of the stock is currently owned by company insiders.

Separately, StockNews.com lowered United Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, March 30th.

About United Bankshares (Get Rating)

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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