GW&K Investment Management LLC trimmed its position in United Bankshares, Inc. (NASDAQ:UBSI) by 21.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 603,881 shares of the financial services provider’s stock after selling 164,723 shares during the quarter. GW&K Investment Management LLC owned 0.58% of United Bankshares worth $20,985,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of UBSI. JPMorgan Chase & Co. raised its stake in United Bankshares by 19,508.5% in the second quarter. JPMorgan Chase & Co. now owns 110,592 shares of the financial services provider’s stock valued at $4,335,000 after buying an additional 110,028 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of United Bankshares in the second quarter valued at about $607,000. Wells Fargo & Company MN increased its holdings in shares of United Bankshares by 19.6% in the second quarter. Wells Fargo & Company MN now owns 342,254 shares of the financial services provider’s stock valued at $13,416,000 after purchasing an additional 56,007 shares during the period. Alliancebernstein L.P. increased its holdings in shares of United Bankshares by 45.3% in the second quarter. Alliancebernstein L.P. now owns 153,876 shares of the financial services provider’s stock valued at $6,032,000 after purchasing an additional 48,006 shares during the period. Finally, Riverhead Capital Management LLC increased its holdings in shares of United Bankshares by 102.8% in the second quarter. Riverhead Capital Management LLC now owns 5,678 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 2,878 shares during the period. Institutional investors and hedge funds own 65.81% of the company’s stock.
A number of research analysts have recently weighed in on UBSI shares. Zacks Investment Research raised United Bankshares from a “hold” rating to a “strong-buy” rating and set a $41.00 price objective on the stock in a report on Thursday, December 28th. BidaskClub lowered United Bankshares from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. Boenning Scattergood reissued a “hold” rating on shares of United Bankshares in a report on Friday, October 27th. Finally, Sandler O’Neill set a $38.00 price objective on United Bankshares and gave the company a “hold” rating in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a strong buy rating to the stock. United Bankshares has an average rating of “Hold” and a consensus price target of $42.25.
Shares of United Bankshares, Inc. (NASDAQ UBSI) traded up $0.70 during trading on Monday, reaching $35.15. The company had a trading volume of 980,548 shares, compared to its average volume of 726,777. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.02 and a current ratio of 1.04. The stock has a market capitalization of $3,690.00, a P/E ratio of 22.53, a price-to-earnings-growth ratio of 1.73 and a beta of 1.05. United Bankshares, Inc. has a 52-week low of $31.70 and a 52-week high of $46.35.
United Bankshares (NASDAQ:UBSI) last posted its earnings results on Tuesday, January 30th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. United Bankshares had a return on equity of 6.28% and a net margin of 19.93%. The company had revenue of $187.62 million during the quarter, compared to analysts’ expectations of $182.94 million. During the same quarter last year, the firm earned $0.51 earnings per share. equities analysts predict that United Bankshares, Inc. will post 2.49 EPS for the current fiscal year.
In other news, Director Michael P. Fitzgerald sold 27,000 shares of United Bankshares stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $37.05, for a total value of $1,000,350.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.23% 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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