Crestline Management LP Increases Stake in United Bankshares, Inc. (NASDAQ:UBSI)

Crestline Management LP grew its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 64.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 102,000 shares of the financial services provider’s stock after purchasing an additional 40,000 shares during the quarter. United Bankshares makes up approximately 0.5% of Crestline Management LP’s holdings, making the stock its 25th biggest holding. Crestline Management LP owned about 0.10% of United Bankshares worth $3,789,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new position in shares of United Bankshares during the 2nd quarter worth about $135,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of United Bankshares by 62.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,053 shares of the financial services provider’s stock worth $159,000 after acquiring an additional 1,563 shares during the period. Riverhead Capital Management LLC lifted its holdings in shares of United Bankshares by 102.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,678 shares of the financial services provider’s stock worth $223,000 after acquiring an additional 2,878 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of United Bankshares during the 2nd quarter worth about $248,000. Finally, Engineers Gate Manager LP bought a new position in shares of United Bankshares during the 3rd quarter worth about $241,000. 65.51% of the stock is owned by institutional investors.

Shares of United Bankshares, Inc. (NASDAQ UBSI) traded up $0.10 during midday trading on Tuesday, reaching $34.85. 651,356 shares of the company were exchanged, compared to its average volume of 707,700. The firm has a market capitalization of $3,648.49, a PE ratio of 18.34, a P/E/G ratio of 1.83 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.06. United Bankshares, Inc. has a 52-week low of $31.70 and a 52-week high of $47.30.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.01). The company had revenue of $188.51 million during the quarter, compared to analyst estimates of $193.87 million. United Bankshares had a net margin of 24.94% and a return on equity of 6.25%. The firm’s quarterly revenue was up 44.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 EPS. analysts forecast that United Bankshares, Inc. will post 1.9 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Thursday, December 7th. This is a positive change from United Bankshares’s previous quarterly dividend of $0.33. United Bankshares’s payout ratio is currently 71.58%.

UBSI has been the subject of several analyst reports. Zacks Investment Research raised shares of United Bankshares from a “hold” rating to a “strong-buy” rating and set a $41.00 price target for the company in a report on Thursday, December 28th. BidaskClub cut shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of United Bankshares in a research report on Friday, October 27th. Six investment analysts have rated the stock with a hold rating, United Bankshares has a consensus rating of “Hold” and an average price target of $43.33.

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About United Bankshares

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.

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

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