United Bankshares, Inc. (UBSI) Shares Sold by Stoneridge Investment Partners LLC
Stoneridge Investment Partners LLC lessened its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 33.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,454 shares of the financial services provider’s stock after selling 5,822 shares during the quarter. Stoneridge Investment Partners LLC’s holdings in United Bankshares were worth $426,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in UBSI. State Street Corp grew its stake in United Bankshares by 31.2% during the 2nd quarter. State Street Corp now owns 10,855,612 shares of the financial services provider’s stock valued at $425,538,000 after acquiring an additional 2,578,520 shares in the last quarter. Vanguard Group Inc. grew its stake in United Bankshares by 20.7% during the 2nd quarter. Vanguard Group Inc. now owns 8,674,789 shares of the financial services provider’s stock valued at $340,052,000 after acquiring an additional 1,488,580 shares in the last quarter. BlackRock Inc. grew its stake in United Bankshares by 9.2% during the 2nd quarter. BlackRock Inc. now owns 13,701,878 shares of the financial services provider’s stock valued at $537,113,000 after acquiring an additional 1,150,017 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of United Bankshares by 60.3% during the 2nd quarter. Northern Trust Corp now owns 2,939,523 shares of the financial services provider’s stock valued at $115,229,000 after buying an additional 1,105,697 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of United Bankshares by 52.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,877,091 shares of the financial services provider’s stock valued at $112,787,000 after buying an additional 989,666 shares during the last quarter. 62.49% of the stock is currently owned by institutional investors.
Shares of United Bankshares, Inc. (NASDAQ:UBSI) opened at $34.40 on Thursday. The stock has a market capitalization of $3,648.16, a PE ratio of 18.29, a PEG ratio of 1.81 and a beta of 1.03. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.03 and a current ratio of 1.05. United Bankshares, Inc. has a 1-year low of $31.70 and a 1-year high of $49.35.
United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.01). The firm had revenue of $188.51 million for the quarter, compared to analyst estimates of $193.87 million. United Bankshares had a net margin of 24.94% and a return on equity of 6.25%. The firm’s quarterly revenue was up 44.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 earnings per share. sell-side analysts anticipate that United Bankshares, Inc. will post 1.92 earnings per share for the current year.
United Bankshares announced that its board has authorized a stock buyback program on Monday, August 28th that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.
Several equities research analysts have recently issued reports on UBSI shares. Boenning Scattergood reiterated a “hold” rating on shares of United Bankshares in a report on Friday, October 27th. Zacks Investment Research upgraded United Bankshares from a “sell” rating to a “hold” rating in a report on Thursday, September 28th. Finally, BidaskClub lowered United Bankshares from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. United Bankshares has an average rating of “Hold” and a consensus target price of $42.50.
In related news, Director Gary G. White bought 1,000 shares of United Bankshares stock in a transaction that occurred on Monday, September 11th. The stock was purchased at an average cost of $33.33 per share, for a total transaction of $33,330.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Peter A. Converse bought 3,000 shares of United Bankshares stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average price of $33.15 per share, with a total value of $99,450.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 15,247 shares of company stock valued at $510,526. 6.23% of the stock is owned by corporate insiders.
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United Bankshares Profile
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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