State Street Corp. Updates Passive Stake in United Bankshares
Ticker: UBSI · Form: SC 13G/A · Filed: Jan 24, 2024 · CIK: 729986
| Field | Detail |
|---|---|
| Company | United Bankshares Inc/Wv (UBSI) |
| Form Type | SC 13G/A |
| Filed Date | Jan 24, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amended-filing, passive-investment
TL;DR
**State Street still owns a chunk of United Bankshares, good sign for stability.**
AI Summary
State Street Corporation, a major financial institution, filed an amended SC 13G/A on January 24, 2024, indicating its ownership of Common Stock in United Bankshares Inc/WV as of December 31, 2023. This filing is an update to their previous disclosures, confirming their continued significant, though passive, stake in the bank. For investors, this means a large institutional player maintains confidence in United Bankshares, which can be a positive signal for the stock's stability and long-term outlook.
Why It Matters
This filing confirms State Street Corporation's ongoing significant, passive investment in United Bankshares, signaling institutional confidence in the company's stability.
Risk Assessment
Risk Level: low — This filing is a routine update from a passive institutional investor and does not indicate any immediate risks or significant changes in strategy.
Analyst Insight
An investor should view this as a routine update confirming a large institutional holder's passive stake, suggesting stability rather than an immediate catalyst for buying or selling. It reinforces that United Bankshares is on the radar of major financial players.
Key Players & Entities
- State Street Corporation (company) — the reporting person and institutional investor
- United Bankshares Inc/WV (company) — the issuer of the securities
- Common Stock (other) — the class of securities owned by State Street Corporation
- December 31, 2023 (date) — the date of the event requiring the filing
- January 24, 2024 (date) — the filing date of the SC 13G/A
FAQ
What type of filing is this document and what does 'A' signify?
This document is an SC 13G/A filing. The 'A' signifies that it is an 'AMENDED FILING,' meaning it's an update to a previously filed Schedule 13G.
Who is the 'Reporting Person' in this SC 13G/A filing?
The 'Reporting Person' is STATE STREET CORPORATION, as explicitly stated on page 2 of 5 of the filing.
What is the 'Issuer' of the securities mentioned in this filing?
The 'Issuer' of the securities is UNITED BANKSHARES INC/WV, as identified in the 'NAME OF ISSUER' section of the filing.
What is the 'Date of Event Which Requires Filing of This Statement'?
The 'DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT' is 12/31/2023, as stated on the cover page of the filing.
Which rule under the Securities Exchange Act of 1934 is this Schedule 13G filed pursuant to?
This Schedule 13G is filed pursuant to RULE 13D-1 (B), as indicated by the 'X' in the appropriate box on the cover page.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 24, 2024 regarding UNITED BANKSHARES INC/WV (UBSI).