United Bankshares, Inc. (UBSI) President Purchases $77,871.50 in Stock
United Bankshares, Inc. (NASDAQ:UBSI) President Richard M. Adams, Jr. bought 2,342 shares of the stock in a transaction on Monday, August 14th. The stock was purchased at an average cost of $33.25 per share, with a total value of $77,871.50. Following the completion of the purchase, the president now directly owns 51,867 shares in the company, valued at approximately $1,724,577.75. The purchase was disclosed in a legal 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, hitting $33.75. 523,486 shares of the 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 50-day moving average of $36.69 and a 200-day moving average of $40.26. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 18.06 and a beta of 1.05.
United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results 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 business had revenue of $176.75 million for the quarter, compared to analyst estimates of $164.09 million. During the same quarter last year, the company earned $0.44 EPS. Analysts anticipate that United Bankshares, Inc. will post $1.92 EPS for the current year.
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Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC raised its position in shares of United Bankshares by 3.0% in the fourth quarter. FMR LLC now owns 6,136 shares of the financial services provider’s stock valued at $284,000 after buying an additional 181 shares during the period. Teachers Advisors LLC raised its position in shares of United Bankshares by 3.1% in the fourth quarter. Teachers Advisors LLC now owns 125,644 shares of the financial services provider’s stock valued at $5,811,000 after buying an additional 3,807 shares during the period. Bank of Montreal Can raised its position in shares of United Bankshares by 1.6% in the first quarter. Bank of Montreal Can now owns 26,921 shares of the financial services provider’s stock valued at $1,138,000 after buying an additional 424 shares during the period. First National Bank of Omaha raised its position in shares of 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 during the period. Finally, Capstone Asset Management Co. raised its position in shares of United Bankshares by 4.5% in the first quarter. Capstone Asset Management Co. now owns 15,352 shares of the financial services provider’s stock valued at $649,000 after buying an additional 660 shares during the period. Institutional investors own 52.25% of the company’s stock.
Several research firms have commented on UBSI. Zacks Investment Research cut shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. BidaskClub raised shares of United Bankshares from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. 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 equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. United Bankshares currently has a consensus rating of “Hold” and an average price target 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.
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