United Bankshares, Inc. (NASDAQ:UBSI) President Richard M. Adams, Jr. acquired 2,342 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were purchased at an average cost of $33.25 per share, with a total value of $77,871.50. Following the completion of the acquisition, the president now owns 51,867 shares in the company, valued at approximately $1,724,577.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of United Bankshares, Inc. (NASDAQ UBSI) traded up 1.20% during mid-day trading on Tuesday, reaching $33.75. 523,486 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $36.69 and its 200-day moving average is $40.26. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 18.06 and a beta of 1.05. United Bankshares, Inc. has a 52-week low of $31.71 and a 52-week high of $49.35.

United Bankshares (NASDAQ:UBSI) last released 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 net margin of 25.20% and a return on equity of 6.42%. The company had revenue of $176.75 million during the quarter, compared to analyst estimates of $164.09 million. During the same quarter in the prior year, the firm earned $0.44 earnings per share. On average, equities analysts expect that United Bankshares, Inc. will post $1.92 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This story was published by Watch List News and is the property of of Watch List News. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright law. The original version of this story can be read at https://www.watchlistnews.com/richard-m-adams-jr-buys-2342-shares-of-united-bankshares-inc-ubsi-stock/1491464.html.

Institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its position in United Bankshares by 19.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 393,654 shares of the financial services provider’s stock valued at $16,632,000 after buying an additional 65,406 shares in the last quarter. Northstar Asset Management LLC increased its position in United Bankshares by 69.9% in the second quarter. Northstar Asset Management LLC now owns 17,258 shares of the financial services provider’s stock valued at $677,000 after buying an additional 7,100 shares in the last quarter. First National Bank of Omaha increased its position in United Bankshares by 33.3% in the first quarter. First National Bank of Omaha now owns 28,022 shares of the financial services provider’s stock valued at $1,184,000 after buying an additional 7,000 shares in the last quarter. State of Tennessee Treasury Department increased its position in United Bankshares by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 75,783 shares of the financial services provider’s stock valued at $3,202,000 after buying an additional 11,437 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in United Bankshares by 6.8% in the first quarter. Bank of New York Mellon Corp now owns 1,103,749 shares of the financial services provider’s stock valued at $46,633,000 after buying an additional 70,392 shares in the last quarter. Hedge funds and other institutional investors own 52.25% of the company’s stock.

UBSI has been the subject of several recent analyst reports. BidaskClub downgraded shares of United Bankshares from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. Zacks Investment Research downgraded shares of United Bankshares from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Finally, Boenning Scattergood raised shares of United Bankshares from an “underperform” rating to a “neutral” rating in a 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 stock. The company currently has an average rating of “Hold” and an average target price of $42.63.

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.

Insider Buying and Selling 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 Analyst Ratings Network's FREE daily email newsletter.