Bbva Compass Bancshares Inc. Acquires Shares of 7,237 United Bankshares, Inc. (NASDAQ:UBSI)

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.

WARNING: “Bbva Compass Bancshares Inc. Acquires Shares of 7,237 United Bankshares, Inc. (NASDAQ:UBSI)” was first reported by BNB Daily and is the sole property of of BNB Daily. If you are viewing this piece of content on another publication, it was illegally stolen and reposted in violation of United States & international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.baseball-news-blog.com/2017/08/19/7237-shares-in-united-bankshares-inc-nasdaqubsi-acquired-by-bbva-compass-bancshares-inc-updated.html.

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.

Institutional Ownership by Quarter for United Bankshares (NASDAQ:UBSI)

Receive News & Ratings for United Bankshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Bankshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply