Profund Advisors LLC cut its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 20.4% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 18,698 shares of the financial services provider’s stock after selling 4,790 shares during the period. Profund Advisors LLC’s holdings in United Bankshares were worth $790,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Tyers Asset Management LLC bought a new position in shares of United Bankshares during the fourth quarter worth about $102,000. Advisor Group Inc. boosted its position in shares of United Bankshares by 1.6% in the third quarter. Advisor Group Inc. now owns 2,625 shares of the financial services provider’s stock worth $100,000 after buying an additional 42 shares during the last quarter. Elkfork Partners LLC bought a new position in shares of United Bankshares during the fourth quarter worth about $140,000. SNS Financial Group LLC bought a new position in shares of United Bankshares during the fourth quarter worth about $204,000. Finally, Koch Industries Inc. bought a new position in shares of United Bankshares during the fourth quarter worth about $216,000. 54.82% of the stock is owned by hedge funds and other institutional investors.
United Bankshares, Inc. (NASDAQ:UBSI) opened at 38.25 on Friday. United Bankshares, Inc. has a 12 month low of $34.50 and a 12 month high of $49.35. The firm has a 50-day moving average price of $40.17 and a 200-day moving average price of $43.37. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 19.43 and a beta of 1.04.
United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.48 earnings per share for the quarter, hitting the consensus estimate of $0.48. United Bankshares had a net margin of 27.22% and a return on equity of 7.34%. The company had revenue of $127.77 million for the quarter, compared to analysts’ expectations of $127.70 million. During the same quarter in the previous year, the firm posted $0.50 earnings per share. On average, equities analysts anticipate that United Bankshares, Inc. will post $2.07 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on the company. DA Davidson assumed coverage on United Bankshares in a report on Monday, March 6th. They set a “neutral” rating and a $45.00 price target for the company. Stephens assumed coverage on United Bankshares in a report on Friday, March 3rd. They set an “equal weight” rating for the company. Keefe, Bruyette & Woods set a $44.00 price target on United Bankshares and gave the company a “hold” rating in a report on Thursday, April 6th. Zacks Investment Research cut United Bankshares from a “buy” rating to a “hold” rating in a report on Thursday, April 6th. Finally, Boenning Scattergood raised United Bankshares from an “underperform” rating to a “neutral” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average target price of $44.88.
In other United Bankshares news, Director Michael P. Fitzgerald sold 13,100 shares of the company’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $38.28, for a total transaction of $501,468.00. Following the sale, the director now owns 245,273 shares of the company’s stock, valued at $9,389,050.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bernard H. Clineburg sold 1,183 shares of the stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $39.71, for a total transaction of $46,976.93. Following the transaction, the director now directly owns 174,765 shares in the company, valued at approximately $6,939,918.15. The disclosure for this sale can be found here. Insiders own 7.50% of the company’s stock.
United Bankshares Company Profile
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.
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