Kestra Investment Management LLC Purchases New Stake in United Bankshares, Inc. (NASDAQ:UBSI)

Kestra Investment Management LLC bought a new position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 12,488 shares of the financial services provider's stock, valued at approximately $469,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB raised its stake in United Bankshares by 1,921.1% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider's stock worth $54,000 after buying an additional 1,364 shares in the last quarter. Principal Securities Inc. raised its position in shares of United Bankshares by 10.1% during the 4th quarter. Principal Securities Inc. now owns 3,115 shares of the financial services provider's stock valued at $117,000 after purchasing an additional 285 shares during the period. Milestone Asset Management LLC bought a new stake in United Bankshares in the 4th quarter valued at $201,000. Choreo LLC purchased a new position in shares of United Bankshares in the 4th quarter worth $206,000. Finally, Quest Partners LLC boosted its stake in shares of United Bankshares by 377.2% during the 3rd quarter. Quest Partners LLC now owns 5,641 shares of the financial services provider's stock worth $209,000 after purchasing an additional 4,459 shares during the period. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UBSI has been the subject of several research reports. StockNews.com cut shares of United Bankshares from a "hold" rating to a "sell" rating in a research report on Monday, January 27th. Stephens restated an "equal weight" rating and issued a $43.00 price target on shares of United Bankshares in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of United Bankshares from $46.00 to $45.00 and set a "market perform" rating for the company in a report on Monday, January 27th.

United Bankshares Price Performance

Shares of NASDAQ:UBSI traded down $1.14 during midday trading on Friday, hitting $35.63. The company's stock had a trading volume of 779,516 shares, compared to its average volume of 568,442. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. The business's 50 day simple moving average is $38.10 and its 200 day simple moving average is $38.35. United Bankshares, Inc. has a 12-month low of $30.68 and a 12-month high of $44.43. The company has a market cap of $4.82 billion, a P/E ratio of 13.00 and a beta of 1.02.

United Bankshares (NASDAQ:UBSI - Get Free Report) last announced its quarterly earnings data on Friday, January 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.01. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. During the same period in the previous year, the company earned $0.59 earnings per share. On average, analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current year.

Insider Transactions at United Bankshares

In related news, Director Mark R. Nesselroad sold 6,000 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $39.16, for a total value of $234,960.00. Following the sale, the director now directly owns 35,424 shares of the company's stock, valued at approximately $1,387,203.84. This represents a 14.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J Paul Mcnamara sold 2,500 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.86, for a total transaction of $107,150.00. Following the completion of the sale, the director now directly owns 63,409 shares in the company, valued at approximately $2,717,709.74. The trade was a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.66% of the company's stock.

United Bankshares Company Profile

United Bankshares, Inc, through its subsidiaries, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts.