United Bankshares, Inc. (NASDAQ:UBSI) Downgraded to “Strong Sell” at BidaskClub
United Bankshares, Inc. (NASDAQ:UBSI) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Wednesday.
UBSI has been the subject of several other reports. Zacks Investment Research downgraded United Bankshares from a “buy” rating to a “hold” rating in a research note on Thursday, April 6th. Boenning Scattergood raised United Bankshares from an “underperform” rating to a “neutral” rating in a research note on Thursday, May 18th. Finally, Keefe, Bruyette & Woods set a $44.00 price objective on United Bankshares and gave the company a “hold” rating in a research note on Thursday, April 6th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $42.63.
United Bankshares (UBSI) traded up 0.13% during mid-day trading on Wednesday, hitting $37.50. The stock had a trading volume of 430,859 shares. The stock has a 50-day moving average price of $38.88 and a 200 day moving average price of $41.55. The firm has a market cap of $3.93 billion, a P/E ratio of 19.05 and a beta of 1.07. United Bankshares has a 12-month low of $36.53 and a 12-month high of $49.35.
United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.48 earnings per share for the quarter, meeting the consensus estimate of $0.48. United Bankshares had a return on equity of 7.09% and a net margin of 27.17%. The firm had revenue of $127.77 million during the quarter, compared to the consensus estimate of $127.70 million. During the same period last year, the business posted $0.50 EPS. Equities analysts anticipate that United Bankshares will post $2.07 EPS for the current fiscal year.
In other United Bankshares news, Director Michael P. Fitzgerald sold 13,038 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $40.04, for a total transaction of $522,041.52. Following the completion of the transaction, the director now owns 12,738 shares of the company’s stock, valued at $510,029.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael P. Fitzgerald sold 13,100 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $38.28, for a total value of $501,468.00. Following the transaction, the director now directly owns 245,273 shares of the company’s stock, valued at approximately $9,389,050.44. The disclosure for this sale can be found here. Insiders have sold 27,321 shares of company stock valued at $1,070,486 in the last three months. 7.50% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of United Bankshares by 9,877.0% in the first quarter. BlackRock Inc. now owns 12,551,861 shares of the financial services provider’s stock worth $530,316,000 after buying an additional 12,426,053 shares in the last quarter. State Street Corp increased its stake in shares of United Bankshares by 35.4% in the first quarter. State Street Corp now owns 8,277,092 shares of the financial services provider’s stock worth $349,708,000 after buying an additional 2,163,599 shares in the last quarter. Norges Bank acquired a new stake in shares of United Bankshares during the fourth quarter worth approximately $23,278,000. GW&K Investment Management LLC increased its stake in shares of United Bankshares by 101.0% in the first quarter. GW&K Investment Management LLC now owns 788,673 shares of the financial services provider’s stock worth $33,321,000 after buying an additional 396,249 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of United Bankshares by 5.8% in the first quarter. Vanguard Group Inc. now owns 7,186,209 shares of the financial services provider’s stock worth $303,616,000 after buying an additional 394,932 shares in the last quarter. 50.07% of the stock is owned by institutional investors and hedge funds.
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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