United Bankshares Inc. (UBSI) Sees Large Volume Increase
United Bankshares Inc. (NASDAQ:UBSI) shares saw strong trading volume on Wednesday . 279,804 shares traded hands during mid-day trading, an increase of 1% from the previous session’s volume of 277,225 shares.The stock last traded at $39.08 and had previously closed at $39.00.
Separately, Zacks Investment Research raised United Bankshares from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Thursday, June 2nd.
The stock’s 50-day moving average price is $38.27 and its 200 day moving average price is $37.21. The firm has a market cap of $2.97 billion and a P/E ratio of 20.27.
United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.50 by $0.06. During the same period in the previous year, the company earned $0.50 EPS. On average, analysts predict that United Bankshares Inc. will post $2.00 earnings per share for the current fiscal year.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. State of Tennessee Treasury Department purchased a new position in United Bankshares during the fourth quarter worth approximately $1,868,000. Principal Financial Group Inc. boosted its position in United Bankshares by 3.5% in the fourth quarter. Principal Financial Group Inc. now owns 436,333 shares of the financial services provider’s stock worth $16,140,000 after buying an additional 14,796 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in United Bankshares by 0.3% in the fourth quarter. Bank of Montreal Can now owns 69,308 shares of the financial services provider’s stock worth $2,564,000 after buying an additional 220 shares in the last quarter.
United Bankshares, Inc (United) is a bank holding company. The Company has approximately two banking subsidiaries (the Banking Subsidiaries) doing business under the name of United Bank, one operating under the laws of West Virginia referred to as United Bank (WV) and the other operating under the laws of Virginia referred to as United Bank (VA).
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