Nuance Investments LLC lifted its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 669.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 763,214 shares of the financial services provider’s stock after purchasing an additional 663,997 shares during the quarter. United Bankshares accounts for 1.8% of Nuance Investments LLC’s portfolio, making the stock its 21st largest position. Nuance Investments LLC’s holdings in United Bankshares were worth $26,522,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Connable Office Inc. lifted its position in shares of United Bankshares by 31.0% in the fourth quarter. Connable Office Inc. now owns 9,342 shares of the financial services provider’s stock worth $325,000 after purchasing an additional 2,208 shares in the last quarter. Swiss National Bank lifted its position in shares of United Bankshares by 2.0% in the fourth quarter. Swiss National Bank now owns 169,882 shares of the financial services provider’s stock worth $5,903,000 after purchasing an additional 3,300 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of United Bankshares by 7.6% in the fourth quarter. California Public Employees Retirement System now owns 190,477 shares of the financial services provider’s stock worth $6,619,000 after purchasing an additional 13,448 shares in the last quarter. M&T Bank Corp lifted its position in shares of United Bankshares by 44.3% in the fourth quarter. M&T Bank Corp now owns 701,740 shares of the financial services provider’s stock worth $24,385,000 after purchasing an additional 215,543 shares in the last quarter. Finally, Anchor Capital Advisors LLC lifted its position in shares of United Bankshares by 27.9% in the fourth quarter. Anchor Capital Advisors LLC now owns 84,075 shares of the financial services provider’s stock worth $2,922,000 after purchasing an additional 18,351 shares in the last quarter. 65.81% of the stock is owned by institutional investors and hedge funds.

In related news, Director Michael P. Fitzgerald sold 27,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $37.05, for a total value of $1,000,350.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 6.23% of the company’s stock.

A number of research firms have recently issued reports on UBSI. Zacks Investment Research raised shares of United Bankshares from a “hold” rating to a “strong-buy” rating and set a $42.00 price target for the company in a research report on Saturday, January 13th. Sandler O’Neill set a $38.00 price target on shares of United Bankshares and gave the stock a “hold” rating in a research report on Thursday, January 4th. BidaskClub lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Finally, Boenning Scattergood reissued a “hold” rating on shares of United Bankshares in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $42.25.

United Bankshares, Inc. (NASDAQ UBSI) opened at $35.15 on Tuesday. United Bankshares, Inc. has a twelve month low of $31.70 and a twelve month high of $46.35. The company has a market capitalization of $3,616.99, a P/E ratio of 22.53, a P/E/G ratio of 1.73 and a beta of 1.05. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.42.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. United Bankshares had a return on equity of 6.28% and a net margin of 19.93%. The firm had revenue of $187.62 million for the quarter, compared to the consensus estimate of $182.94 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. analysts expect that United Bankshares, Inc. will post 2.49 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “United Bankshares, Inc. (UBSI) Shares Bought by Nuance Investments LLC” was first posted by Watch List News and is the property of of Watch List News. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international trademark & copyright law. The legal version of this piece of content can be read at https://www.watchlistnews.com/united-bankshares-inc-ubsi-shares-bought-by-nuance-investments-llc/1863487.html.

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.

Want to see what other hedge funds are holding UBSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Bankshares, Inc. (NASDAQ:UBSI).

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

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