United Bankshares (UBSI) Downgraded to “Sell” at BidaskClub
United Bankshares (NASDAQ:UBSI) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
Several other research analysts have also commented on UBSI. Zacks Investment Research lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. Boenning Scattergood restated a “hold” rating on shares of United Bankshares in a report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. United Bankshares has a consensus rating of “Hold” and an average price target of $44.50.
Shares of United Bankshares (NASDAQ:UBSI) traded down $0.30 during mid-day trading on Thursday, hitting $35.70. 542,495 shares of the stock traded hands, compared to its average volume of 764,751. The stock has a market cap of $3,811.22, a price-to-earnings ratio of 19.10, a P/E/G ratio of 1.90 and a beta of 1.05. United Bankshares has a 1-year low of $31.70 and a 1-year high of $49.35. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.06.
United Bankshares declared that its board has approved a stock buyback plan on Monday, August 28th that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
In other United Bankshares news, Director Gary G. White purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were purchased at an average price of $33.33 per share, for a total transaction of $33,330.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.23% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Viking Fund Management LLC grew its position in United Bankshares by 7.7% in the third quarter. Viking Fund Management LLC now owns 84,000 shares of the financial services provider’s stock valued at $3,121,000 after acquiring an additional 6,000 shares in the last quarter. Swiss National Bank grew its position in United Bankshares by 22.3% in the second quarter. Swiss National Bank now owns 164,582 shares of the financial services provider’s stock valued at $6,452,000 after acquiring an additional 30,001 shares in the last quarter. Bank of New York Mellon Corp grew its position in United Bankshares by 23.0% in the second quarter. Bank of New York Mellon Corp now owns 1,358,100 shares of the financial services provider’s stock valued at $53,238,000 after acquiring an additional 254,351 shares in the last quarter. Wesbanco Bank Inc. grew its position in United Bankshares by 2.2% in the third quarter. Wesbanco Bank Inc. now owns 178,728 shares of the financial services provider’s stock valued at $6,640,000 after acquiring an additional 3,850 shares in the last quarter. Finally, NTV Asset Management LLC grew its position in United Bankshares by 3.6% in the second quarter. NTV Asset Management LLC now owns 69,506 shares of the financial services provider’s stock valued at $2,725,000 after acquiring an additional 2,389 shares in the last quarter. Hedge funds and other institutional investors own 65.56% of the company’s stock.
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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