United Bankshares, Inc. (NASDAQ:UBSI) Stock Position Lowered by NORTHSTAR ASSET MANAGEMENT Co LLC

NORTHSTAR ASSET MANAGEMENT Co LLC trimmed its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 18.5% during the second quarter, HoldingsChannel.com reports. The fund owned 14,068 shares of the financial services provider’s stock after selling 3,200 shares during the period. NORTHSTAR ASSET MANAGEMENT Co LLC’s holdings in United Bankshares were worth $456,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of United Bankshares by 253.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,545 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 1,108 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of United Bankshares by 449.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 1,345 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 1,100 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of United Bankshares in the 4th quarter worth $58,000. New Covenant Trust Company N.A. acquired a new position in shares of United Bankshares in the 1st quarter worth $79,000. Finally, Principal Securities Inc. acquired a new position in shares of United Bankshares in the 4th quarter worth $141,000. 70.80% of the stock is currently owned by institutional investors and hedge funds.

United Bankshares Stock Up 1.2 %

NASDAQ UBSI traded up $0.44 on Friday, reaching $36.63. The stock had a trading volume of 289,964 shares, compared to its average volume of 538,981. United Bankshares, Inc. has a 1 year low of $25.35 and a 1 year high of $39.93. The business has a 50 day moving average price of $34.38 and a 200 day moving average price of $34.17. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of 13.98 and a beta of 0.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.31.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. United Bankshares had a return on equity of 7.72% and a net margin of 22.44%. The company had revenue of $255.94 million during the quarter, compared to analysts’ expectations of $255.54 million. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, analysts forecast that United Bankshares, Inc. will post 2.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on UBSI. DA Davidson lifted their target price on United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods lifted their price target on United Bankshares from $38.00 to $40.00 and gave the company a “market perform” rating in a report on Friday, July 26th. StockNews.com upgraded United Bankshares from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Finally, Stephens lifted their price target on United Bankshares from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, United Bankshares currently has an average rating of “Hold” and a consensus target price of $40.25.

About United Bankshares

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.