Bbva Compass Bancshares Inc. purchased a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) during the second quarter, according to its most recent filing with the SEC. The institutional investor purchased 7,237 shares of the financial services provider’s stock, valued at approximately $284,000.
Several other institutional investors have also added to or reduced their stakes in UBSI. Tyers Asset Management LLC increased its position in United Bankshares by 14.5% in the first quarter. Tyers Asset Management LLC now owns 2,528 shares of the financial services provider’s stock valued at $107,000 after buying an additional 320 shares during the last quarter. LS Investment Advisors LLC increased its position in shares of United Bankshares by 9.7% in the first quarter. LS Investment Advisors LLC now owns 2,766 shares of the financial services provider’s stock worth $117,000 after buying an additional 244 shares in the last quarter. FTB Advisors Inc. increased its position in shares of United Bankshares by 321.8% in the first quarter. FTB Advisors Inc. now owns 3,058 shares of the financial services provider’s stock worth $121,000 after buying an additional 2,333 shares in the last quarter. Elkfork Partners LLC increased its position in shares of United Bankshares by 14.5% in the first quarter. Elkfork Partners LLC now owns 3,476 shares of the financial services provider’s stock worth $147,000 after buying an additional 440 shares in the last quarter. Finally, Meadow Creek Investment Management LLC increased its position in shares of United Bankshares by 14.5% in the first quarter. Meadow Creek Investment Management LLC now owns 4,424 shares of the financial services provider’s stock worth $187,000 after buying an additional 560 shares in the last quarter. 52.25% of the stock is owned by hedge funds and other institutional investors.
United Bankshares, Inc. (NASDAQ:UBSI) traded down 1.21% during midday trading on Friday, reaching $32.75. 1,147,827 shares of the company’s stock traded hands. United Bankshares, Inc. has a 52-week low of $31.71 and a 52-week high of $49.35. The stock has a market cap of $3.44 billion, a P/E ratio of 17.52 and a beta of 1.05. The company’s 50-day moving average price is $35.97 and its 200-day moving average price is $39.99.
United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.14. United Bankshares had a return on equity of 6.42% and a net margin of 25.20%. The company had revenue of $176.75 million during the quarter, compared to the consensus estimate of $164.09 million. During the same quarter last year, the company posted $0.44 earnings per share. On average, equities analysts predict that United Bankshares, Inc. will post $1.92 EPS for the current fiscal year.
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UBSI has been the subject of a number of analyst reports. BidaskClub downgraded shares of United Bankshares from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research downgraded shares of United Bankshares from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Finally, Boenning Scattergood raised shares of United Bankshares from an “underperform” rating to a “neutral” rating in a research note on Thursday, May 18th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $42.63.
In other United Bankshares news, insider William Mark Tatterson purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average cost of $32.30 per share, for a total transaction of $32,300.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Richard M. Sr Adams, Sr. acquired 7,405 shares of United Bankshares stock in a transaction on Tuesday, August 15th. The shares were purchased at an average price of $33.85 per share, with a total value of $250,659.25. Following the completion of the purchase, the chairman now owns 631,170 shares in the company, valued at approximately $21,365,104.50. The disclosure for this purchase can be found here. Insiders acquired a total of 13,747 shares of company stock valued at $460,281 over the last 90 days. Company insiders own 7.50% of the company’s stock.
About United Bankshares
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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