United Bankshares, Inc. (NASDAQ:UBSI) Shares Bought by Rhumbline Advisers

Rhumbline Advisers raised its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 1.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 455,157 shares of the financial services provider’s stock after buying an additional 6,002 shares during the quarter. Rhumbline Advisers’ holdings in United Bankshares were worth $17,091,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of UBSI. Vaughan Nelson Investment Management L.P. grew its holdings in shares of United Bankshares by 16.7% in the 3rd 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 acquiring an additional 223,150 shares during the period. Assenagon Asset Management S.A. purchased a new stake in United Bankshares during the fourth quarter worth $7,383,000. Point72 Asset Management L.P. acquired a new stake in United Bankshares in the third quarter valued at $6,186,000. Barclays PLC grew 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 valued at $10,012,000 after purchasing an additional 127,486 shares during the last quarter. Finally, Systematic Financial Management LP increased its position in shares of 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 valued at $14,507,000 after buying an additional 111,989 shares in the last quarter. 70.80% of the stock is currently owned by institutional investors and hedge funds.

United Bankshares Stock Down 3.4 %

UBSI opened at $35.53 on Friday. The firm has a market cap of $4.80 billion, a P/E ratio of 12.97 and a beta of 1.02. The business’s fifty day simple moving average is $38.00 and its 200 day simple moving average is $38.35. United Bankshares, Inc. has a 52 week low of $30.68 and a 52 week high of $44.43. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11.

United Bankshares (NASDAQ:UBSI) last released its earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the business posted $0.59 EPS. As a group, equities research analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of United Bankshares from $46.00 to $45.00 and set a “market perform” rating on the stock in a research report on Monday, January 27th. Stephens restated an “equal weight” rating and set a $43.00 target price on shares of United Bankshares in a research report on Monday, January 27th. Finally, StockNews.com lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Monday, January 27th.

Insider Activity at United Bankshares

In other United Bankshares news, Director Mark R. Nesselroad sold 6,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $39.16, for a total value of $234,960.00. Following the completion of the transaction, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director J Paul Mcnamara sold 2,500 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.86, for a total value of $107,150.00. Following the sale, the director now owns 63,409 shares in the company, valued at $2,717,709.74. This trade represents a 3.79 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.66% of the company’s stock.

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.