United Bankshares (UBSI) Trading Down 5.1% After Insider Selling

United Bankshares, Inc. (NASDAQ:UBSI) dropped 5.1% during trading on Monday following insider selling activity. The stock traded as low as $34.35 and last traded at $34.45. Approximately 1,129,983 shares were traded during trading, an increase of 57% from the average daily volume of 720,695 shares. The stock had previously closed at $36.30.

Specifically, Director Michael P. Fitzgerald sold 27,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $37.05, for a total transaction of $1,000,350.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 6.23% of the company’s stock.

UBSI has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of United Bankshares from a “hold” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a research note on Saturday, January 13th. Boenning Scattergood reiterated a “hold” rating on shares of United Bankshares in a research note on Friday, October 27th. BidaskClub lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Finally, Sandler O’Neill set a $38.00 price objective on shares of United Bankshares and gave the stock a “hold” rating in a research note on Thursday, January 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $42.25.

The firm has a market capitalization of $3,620.00, a P/E ratio of 22.08, a price-to-earnings-growth ratio of 1.82 and a beta of 1.05. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.04 and a quick ratio of 1.02.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.01. The firm had revenue of $187.62 million for the quarter, compared to analyst estimates of $182.94 million. United Bankshares had a net margin of 19.93% and a return on equity of 6.28%. During the same quarter in the prior year, the business earned $0.51 earnings per share. analysts expect that United Bankshares, Inc. will post 2.49 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in UBSI. State Street Corp increased its stake in shares of United Bankshares by 31.2% in the second quarter. State Street Corp now owns 10,855,612 shares of the financial services provider’s stock worth $425,538,000 after acquiring an additional 2,578,520 shares during the period. Vanguard Group Inc. increased its stake in shares of United Bankshares by 20.7% in the second quarter. Vanguard Group Inc. now owns 8,674,789 shares of the financial services provider’s stock worth $340,052,000 after acquiring an additional 1,488,580 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new stake in United Bankshares during the third quarter valued at $46,969,000. Macquarie Group Ltd. acquired a new stake in United Bankshares during the second quarter valued at $22,884,000. Finally, Heartland Advisors Inc. acquired a new stake in United Bankshares during the third quarter valued at $12,118,000. Hedge funds and other institutional investors own 65.44% of the company’s stock.

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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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