Janney Montgomery Scott LLC raised its position in United Bankshares, Inc. (NASDAQ:UBSI) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,371 shares of the financial services provider’s stock after buying an additional 1,028 shares during the period. Janney Montgomery Scott LLC’s holdings in United Bankshares were worth $3,111,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of UBSI. Tyers Asset Management LLC increased its position in shares of United Bankshares by 14.5% in the first quarter. Tyers Asset Management LLC now owns 2,528 shares of the financial services provider’s stock worth $107,000 after buying an additional 320 shares during the period. LS Investment Advisors LLC increased its position in shares of United Bankshares by 9.7% in the first quarter. LS Investment Advisors LLC now owns 2,766 shares of the financial services provider’s stock worth $117,000 after buying an additional 244 shares during the period. FTB Advisors Inc. increased its position in shares of United Bankshares by 321.8% in the first quarter. FTB Advisors Inc. now owns 3,058 shares of the financial services provider’s stock worth $121,000 after buying an additional 2,333 shares during the period. Elkfork Partners LLC increased its position in shares of United Bankshares by 14.5% in the first quarter. Elkfork Partners LLC now owns 3,476 shares of the financial services provider’s stock worth $147,000 after buying an additional 440 shares during the period. Finally, Meadow Creek Investment Management LLC increased its position in shares of United Bankshares by 14.5% in the first quarter. Meadow Creek Investment Management LLC now owns 4,424 shares of the financial services provider’s stock worth $187,000 after buying an additional 560 shares during the period. 51.56% of the stock is owned by institutional investors and hedge funds.

United Bankshares, Inc. (NASDAQ:UBSI) opened at 34.90 on Friday. United Bankshares, Inc. has a 1-year low of $34.17 and a 1-year high of $49.35. The company has a 50-day moving average price of $38.20 and a 200 day moving average price of $40.92. The stock has a market capitalization of $3.66 billion, a P/E ratio of 18.67 and a beta of 1.05.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.14. The business had revenue of $176.75 million for the quarter, compared to analyst estimates of $164.09 million. United Bankshares had a return on equity of 6.42% and a net margin of 25.20%. During the same quarter in the prior year, the firm posted $0.44 earnings per share. On average, equities analysts predict that United Bankshares, Inc. will post $1.92 EPS for the current year.

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A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded United Bankshares from a “hold” rating to a “sell” rating in a research note on Tuesday. BidaskClub raised United Bankshares from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Finally, Boenning Scattergood raised United Bankshares from an “underperform” rating to a “neutral” rating in a research note on Thursday, May 18th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $42.63.

In other United Bankshares news, Director Michael P. Fitzgerald sold 13,038 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $40.04, for a total value of $522,041.52. Following the completion of the sale, the director now directly owns 12,738 shares in the company, valued at $510,029.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael P. Fitzgerald sold 13,100 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $38.28, for a total value of $501,468.00. Following the completion of the sale, the director now owns 245,273 shares of the company’s stock, valued at $9,389,050.44. The disclosure for this sale can be found here. Insiders own 7.50% of the company’s stock.

About United Bankshares

United Bankshares, Inc (United) is a bank holding company. The Company operates through community banking segment. United’s Banking Subsidiaries offer a range of commercial and retail banking services and products. United, through its subsidiaries, engages in community banking and offers banking products and services permitted by law and regulation.

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Institutional Ownership by Quarter for United Bankshares (NASDAQ:UBSI)

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