Kestra Private Wealth Services LLC Purchases New Position in United Bankshares, Inc. (NASDAQ:UBSI)

Kestra Private Wealth Services LLC purchased a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) in the 4th quarter, Holdings Channel reports. The fund purchased 11,161 shares of the financial services provider’s stock, valued at approximately $419,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. boosted its holdings in United Bankshares by 16.7% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,558,081 shares of the financial services provider’s stock worth $57,805,000 after purchasing an additional 223,150 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in United Bankshares in the fourth quarter worth approximately $7,383,000. Point72 Asset Management L.P. purchased a new stake in United Bankshares in the third quarter worth approximately $6,186,000. Barclays PLC boosted its holdings in United Bankshares by 89.5% in the third quarter. Barclays PLC now owns 269,852 shares of the financial services provider’s stock worth $10,012,000 after purchasing an additional 127,486 shares during the last quarter. Finally, Systematic Financial Management LP boosted its holdings in United Bankshares by 40.1% in the third quarter. Systematic Financial Management LP now owns 391,028 shares of the financial services provider’s stock worth $14,507,000 after purchasing an additional 111,989 shares during the last quarter. Institutional investors own 70.80% of the company’s stock.

United Bankshares Trading Down 0.9 %

Shares of United Bankshares stock opened at $37.93 on Monday. The company’s fifty day simple moving average is $38.39 and its 200-day simple moving average is $38.35. The stock has a market capitalization of $5.13 billion, a PE ratio of 13.84 and a beta of 1.02. United Bankshares, Inc. has a 1-year low of $30.68 and a 1-year high of $44.43. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. During the same quarter in the previous year, the firm posted $0.59 EPS. As a group, equities analysts anticipate that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on UBSI. StockNews.com cut shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Monday, January 27th. Stephens restated an “equal weight” rating and issued a $43.00 target price on shares of United Bankshares in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of United Bankshares from $46.00 to $45.00 and set a “market perform” rating on the stock in a research note on Monday, January 27th.

Insider Activity at United Bankshares

In related news, Director Mark R. Nesselroad sold 6,000 shares of United Bankshares stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $39.16, for a total transaction of $234,960.00. Following the transaction, the director now owns 35,424 shares in the company, valued at approximately $1,387,203.84. The trade was a 14.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J Paul Mcnamara sold 2,500 shares of United Bankshares stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.86, for a total transaction of $107,150.00. Following the transaction, the director now owns 63,409 shares in the company, valued at approximately $2,717,709.74. This trade represents a 3.79 % decrease in their position. The disclosure for this sale can be found here. 3.66% of the stock is owned by corporate insiders.

United Bankshares Profile

United Bankshares, Inc, through its subsidiaries, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts.