United Bankshares, Inc. (NASDAQ:UBSI) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Friday, June 30th.
UBSI has been the subject of a number of other research reports. DA Davidson began coverage on United Bankshares in a research report on Monday, March 6th. They issued a “neutral” rating and a $45.00 price objective for the company. Zacks Investment Research downgraded United Bankshares from a “buy” rating to a “hold” rating in a research report on Thursday, April 6th. Boenning Scattergood upgraded United Bankshares from an “underperform” rating to a “neutral” rating in a research report on Thursday, May 18th. Stephens started coverage on United Bankshares in a research report on Friday, March 3rd. They issued an “equal weight” rating for the company. Finally, Keefe, Bruyette & Woods set a $44.00 target price on United Bankshares and gave the stock a “hold” rating in a report on Thursday, April 6th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $42.63.
Shares of United Bankshares (NASDAQ:UBSI) traded down 4.16% during midday trading on Friday, hitting $34.55. The stock had a trading volume of 1,135,337 shares. United Bankshares has a 12-month low of $34.25 and a 12-month high of $49.35. The firm has a market cap of $3.62 billion, a PE ratio of 17.55 and a beta of 1.07. The firm has a 50-day moving average of $38.53 and a 200 day moving average of $41.13.
United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.37 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.14. United Bankshares had a return on equity of 7.09% and a net margin of 27.17%. The firm had revenue of $176.75 million during the quarter, compared to the consensus estimate of $164.09 million. During the same quarter in the prior year, the business posted $0.44 EPS. On average, analysts expect that United Bankshares will post $2.07 earnings per share for the current year.
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In related news, Director Michael P. Fitzgerald sold 13,038 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $40.04, for a total transaction of $522,041.52. Following the completion of the sale, the director now directly owns 12,738 shares of the company’s stock, valued at approximately $510,029.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael P. Fitzgerald sold 13,100 shares of the firm’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $38.28, for a total value of $501,468.00. Following the sale, the director now directly owns 245,273 shares of the company’s stock, valued at $9,389,050.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,321 shares of company stock valued at $1,070,486. 7.50% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. GW&K Investment Management LLC boosted its stake in United Bankshares by 101.0% in the first quarter. GW&K Investment Management LLC now owns 788,673 shares of the financial services provider’s stock worth $33,321,000 after buying an additional 396,249 shares in the last quarter. Creative Planning boosted its stake in United Bankshares by 12.2% in the first quarter. Creative Planning now owns 105,167 shares of the financial services provider’s stock worth $4,443,000 after buying an additional 11,461 shares in the last quarter. Teachers Advisors LLC boosted its stake in United Bankshares by 3.1% in the fourth quarter. Teachers Advisors LLC now owns 125,644 shares of the financial services provider’s stock worth $5,811,000 after buying an additional 3,807 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in United Bankshares during the fourth quarter worth $1,277,000. Finally, Norges Bank acquired a new stake in United Bankshares during the fourth quarter worth $23,278,000. 50.10% of the stock is owned by hedge funds and other institutional investors.
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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