United Bankshares, Inc. (UBSI) Position Cut by Evermay Wealth Management LLC
Evermay Wealth Management LLC cut its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 16.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,116 shares of the financial services provider’s stock after selling 2,363 shares during the period. Evermay Wealth Management LLC’s holdings in United Bankshares were worth $475,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Stoneridge Investment Partners LLC purchased a new stake in shares of United Bankshares during the second quarter valued at about $677,000. TD Asset Management Inc. increased its stake in shares of United Bankshares by 1.4% in the second quarter. TD Asset Management Inc. now owns 21,635 shares of the financial services provider’s stock valued at $848,000 after buying an additional 300 shares during the period. Palladium Partners LLC increased its stake in shares of United Bankshares by 5.8% in the second quarter. Palladium Partners LLC now owns 17,271 shares of the financial services provider’s stock valued at $677,000 after buying an additional 947 shares during the period. Retirement Systems of Alabama purchased a new stake in shares of United Bankshares during the second quarter valued at about $5,298,000. Finally, Smithfield Trust Co. purchased a new stake in shares of United Bankshares during the second quarter valued at about $727,000. Institutional investors and hedge funds own 51.86% of the company’s stock.
Shares of United Bankshares, Inc. (NASDAQ UBSI) opened at 33.30 on Thursday. The company has a 50-day moving average of $37.22 and a 200 day moving average of $40.55. The firm has a market capitalization of $3.49 billion, a P/E ratio of 17.82 and a beta of 1.05. United Bankshares, Inc. has a 52 week low of $33.05 and a 52 week high of $49.35.
United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.51 by $0.14. United Bankshares had a return on equity of 6.42% and a net margin of 25.20%. The firm had revenue of $176.75 million for the quarter, compared to analysts’ expectations of $164.09 million. During the same quarter last year, the firm posted $0.44 earnings per share. Equities research analysts anticipate that United Bankshares, Inc. will post $1.92 earnings per share for the current year.
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Several equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. BidaskClub downgraded shares of United Bankshares from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. Finally, Boenning Scattergood upgraded shares of United Bankshares from an “underperform” rating to a “neutral” rating in a research note on Thursday, May 18th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $42.63.
In other United Bankshares news, Director Michael P. Fitzgerald sold 13,038 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $40.04, for a total value of $522,041.52. Following the transaction, the director now directly owns 12,738 shares in the company, valued at $510,029.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael P. Fitzgerald sold 13,100 shares of the business’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $38.28, for a total transaction of $501,468.00. Following the completion of the transaction, the director now owns 245,273 shares in the company, valued at $9,389,050.44. The disclosure for this sale can be found here. 7.50% of the stock is currently owned by insiders.
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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