Investors Buy Shares of United Bankshares Inc. (UBSI) on Weakness
Traders purchased shares of United Bankshares Inc. (NASDAQ:UBSI) on weakness during trading hours on Friday. $21.74 million flowed into the stock on the tick-up and $5.77 million flowed out of the stock on the tick-down, for a money net flow of $15.97 million into the stock. Of all equities tracked, United Bankshares had the 27th highest net in-flow for the day. United Bankshares traded down ($0.29) for the day and closed at $38.71
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 $38.38 and its 200-day moving average price is $37.26. The firm has a market cap of $2.96 billion and a PE ratio of 20.16.
United Bankshares (NASDAQ:UBSI) last posted its earnings results on Thursday, July 28th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by $0.06. During the same quarter in the previous year, the business earned $0.50 earnings per share. On average, equities research analysts forecast that United Bankshares Inc. will post $2.01 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in United Bankshares stock. Bank of Montreal Can raised its position in shares of United Bankshares Inc. (NASDAQ:UBSI) by 0.3% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 69,308 shares of the financial services provider’s stock after buying an additional 220 shares during the period. Bank of Montreal Can owned about 0.10% of United Bankshares worth $2,564,000 at the end of the most recent reporting period.
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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