Security National Trust Co. increased its position in United Bankshares, Inc. (NASDAQ:UBSI) by 7.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,801 shares of the financial services provider’s stock after purchasing an additional 1,600 shares during the period. Security National Trust Co.’s holdings in United Bankshares were worth $865,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. MetLife Investment Advisors LLC lifted its holdings in shares of United Bankshares by 2.7% in the 2nd quarter. MetLife Investment Advisors LLC now owns 112,294 shares of the financial services provider’s stock worth $4,088,000 after purchasing an additional 2,910 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in shares of United Bankshares by 10.1% in the 2nd quarter. Macquarie Group Ltd. now owns 828,670 shares of the financial services provider’s stock worth $30,168,000 after purchasing an additional 75,724 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of United Bankshares by 35.1% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 32,382 shares of the financial services provider’s stock worth $1,179,000 after purchasing an additional 8,408 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of United Bankshares by 3.3% in the 2nd quarter. Sterling Capital Management LLC now owns 466,243 shares of the financial services provider’s stock worth $16,971,000 after purchasing an additional 14,993 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of United Bankshares by 4.6% in the 2nd quarter. First Trust Advisors LP now owns 284,557 shares of the financial services provider’s stock worth $10,358,000 after purchasing an additional 12,481 shares in the last quarter. Institutional investors own 72.28% of the company’s stock.
In other news, Director Peter A. Converse sold 2,500 shares of the firm’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $39.50, for a total transaction of $98,750.00. Following the completion of the sale, the director now directly owns 471,810 shares of the company’s stock, valued at approximately $18,636,495. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Peter A. Converse sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $39.00, for a total value of $195,000.00. Following the sale, the director now directly owns 474,310 shares of the company’s stock, valued at $18,498,090. The disclosure for this sale can be found here. Corporate insiders own 5.15% of the company’s stock.
A number of equities analysts recently issued reports on the company. Boenning Scattergood reiterated a “hold” rating on shares of United Bankshares in a report on Friday, October 26th. ValuEngine upgraded United Bankshares from a “sell” rating to a “hold” rating in a report on Monday, July 30th. BidaskClub raised United Bankshares from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Finally, Zacks Investment Research raised United Bankshares from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Tuesday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $39.33.
NASDAQ UBSI opened at $35.00 on Tuesday. The firm has a market capitalization of $3.58 billion, a P/E ratio of 18.42, a P/E/G ratio of 1.75 and a beta of 1.11. United Bankshares, Inc. has a 12 month low of $31.01 and a 12 month high of $39.95. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.41.
United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01). The company had revenue of $180.46 million during the quarter, compared to analysts’ expectations of $189.56 million. United Bankshares had a net margin of 25.09% and a return on equity of 7.64%. Equities analysts expect that United Bankshares, Inc. will post 2.46 EPS for the current year.
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United Bankshares Profile
United Bankshares, Inc, a financial holding company, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts.
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