United Bankshares, Inc. (NASDAQ:UBSI) Director Peter A. Converse sold 22,500 shares of United Bankshares stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $37.74, for a total value of $849,150.00. Following the completion of the sale, the director now owns 491,810 shares of the company’s stock, valued at approximately $18,560,909.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
United Bankshares, Inc. (UBSI) traded up $0.25 during trading hours on Thursday, reaching $37.20. The company had a trading volume of 486,108 shares, compared to its average volume of 706,474. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.47. United Bankshares, Inc. has a 52-week low of $31.70 and a 52-week high of $44.58. The firm has a market capitalization of $3,907.55, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 1.87 and a beta of 1.05.
United Bankshares (NASDAQ:UBSI) last issued its earnings results on Tuesday, January 30th. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. The company had revenue of $187.62 million for the quarter, compared to analyst estimates of $182.94 million. United Bankshares had a return on equity of 6.28% and a net margin of 19.93%. During the same period in the prior year, the firm posted $0.51 EPS. sell-side analysts anticipate that United Bankshares, Inc. will post 2.49 earnings per share for the current year.
A number of large investors have recently made changes to their positions in UBSI. Fuller & Thaler Asset Management Inc. bought a new stake in United Bankshares during the 3rd quarter valued at approximately $46,969,000. Earnest Partners LLC boosted its stake in United Bankshares by 46.9% during the 4th quarter. Earnest Partners LLC now owns 2,158,093 shares of the financial services provider’s stock valued at $74,994,000 after purchasing an additional 689,187 shares during the period. Nuance Investments LLC lifted its position in shares of United Bankshares by 669.2% in the 4th quarter. Nuance Investments LLC now owns 763,214 shares of the financial services provider’s stock worth $26,522,000 after acquiring an additional 663,997 shares during the period. Citadel Advisors LLC lifted its position in shares of United Bankshares by 87.8% in the 3rd quarter. Citadel Advisors LLC now owns 513,277 shares of the financial services provider’s stock worth $19,068,000 after acquiring an additional 239,894 shares during the period. Finally, Heartland Advisors Inc. lifted its position in shares of United Bankshares by 73.0% in the 4th quarter. Heartland Advisors Inc. now owns 564,286 shares of the financial services provider’s stock worth $19,609,000 after acquiring an additional 238,101 shares during the period. Hedge funds and other institutional investors own 69.81% of the company’s stock.
A number of equities analysts have issued reports on UBSI shares. TheStreet raised United Bankshares from a “c+” rating to a “b-” rating in a research report on Wednesday, February 21st. BidaskClub upgraded United Bankshares from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. Zacks Investment Research lowered United Bankshares from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Finally, Sandler O’Neill set a $38.00 price objective on United Bankshares and gave the company a “hold” rating in a report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $41.33.
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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