17,276 Shares in United Bankshares, Inc. (UBSI) Acquired by Stoneridge Investment Partners LLC
Stoneridge Investment Partners LLC purchased a new stake in United Bankshares, Inc. (NASDAQ:UBSI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,276 shares of the financial services provider’s stock, valued at approximately $677,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of UBSI. Sigma Planning Corp increased its position in United Bankshares by 3.5% in the first quarter. Sigma Planning Corp now owns 9,130 shares of the financial services provider’s stock worth $386,000 after buying an additional 307 shares in the last quarter. State of Alaska Department of Revenue increased its position in United Bankshares by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 8,980 shares of the financial services provider’s stock worth $379,000 after buying an additional 220 shares in the last quarter. Huntington National Bank increased its position in United Bankshares by 40.3% in the first quarter. Huntington National Bank now owns 42,174 shares of the financial services provider’s stock worth $1,782,000 after buying an additional 12,124 shares in the last quarter. City Holding Co. increased its position in United Bankshares by 0.8% in the first quarter. City Holding Co. now owns 24,191 shares of the financial services provider’s stock worth $1,022,000 after buying an additional 200 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in United Bankshares by 0.9% in the first quarter. Nisa Investment Advisors LLC now owns 48,600 shares of the financial services provider’s stock worth $2,053,000 after buying an additional 450 shares in the last quarter. Institutional investors and hedge funds own 51.86% of the company’s stock.
United Bankshares, Inc. (NASDAQ:UBSI) opened at 32.35 on Friday. United Bankshares, Inc. has a 52-week low of $32.20 and a 52-week high of $49.35. The company has a market capitalization of $3.40 billion, a P/E ratio of 17.31 and a beta of 1.05. The stock’s 50 day moving average price is $37.03 and its 200-day moving average price is $40.49.
United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.14. The firm had revenue of $176.75 million during the quarter, compared to analyst estimates of $164.09 million. United Bankshares had a return on equity of 6.42% and a net margin of 25.20%. During the same period in the prior year, the firm earned $0.44 earnings per share. Analysts predict that United Bankshares, Inc. will post $1.92 earnings per share for the current fiscal year.
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A number of research firms have recently commented on UBSI. Zacks Investment Research downgraded United Bankshares from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. BidaskClub downgraded United Bankshares from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. Finally, Boenning Scattergood upgraded United Bankshares from an “underperform” rating to a “neutral” rating in a research report on Thursday, May 18th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The company presently has an average rating of “Hold” and an average target price of $42.63.
In other news, Director Michael P. Fitzgerald sold 13,038 shares of United Bankshares stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $40.04, for a total value of $522,041.52. Following the sale, the director now directly owns 12,738 shares of the company’s stock, valued at $510,029.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.50% of the company’s stock.
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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