United Bankshares, Inc. (NASDAQ:UBSI) Shares Sold by NORTHSTAR ASSET MANAGEMENT Co LLC

NORTHSTAR ASSET MANAGEMENT Co LLC cut its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 28.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,068 shares of the financial services provider’s stock after selling 4,000 shares during the period. NORTHSTAR ASSET MANAGEMENT Co LLC’s holdings in United Bankshares were worth $378,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. UMB Bank n.a. increased its stake in United Bankshares by 237.6% during the 3rd quarter. UMB Bank n.a. now owns 844 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 594 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in shares of United Bankshares by 1,921.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider’s stock valued at $54,000 after buying an additional 1,364 shares during the last quarter. GAMMA Investing LLC increased its position in shares of United Bankshares by 34.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,079 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 534 shares during the period. Milestone Asset Management LLC purchased a new position in United Bankshares in the 4th quarter worth $201,000. Finally, Choreo LLC acquired a new stake in United Bankshares during the 4th quarter worth about $206,000. Hedge funds and other institutional investors own 70.80% of the company’s stock.

United Bankshares Price Performance

NASDAQ:UBSI opened at $38.60 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The company has a 50 day moving average price of $38.74 and a 200-day moving average price of $38.37. United Bankshares, Inc. has a 1-year low of $30.68 and a 1-year high of $44.43. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 14.09 and a beta of 1.02.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter last year, the company posted $0.59 EPS. Equities research analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current year.

Insiders Place Their Bets

In other news, Director J Paul Mcnamara sold 2,500 shares of the business’s 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 owns 63,409 shares of the company’s stock, valued at $2,717,709.74. The trade was a 3.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark R. Nesselroad sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $39.16, for a total transaction of $234,960.00. Following the completion of the transaction, the director now directly owns 35,424 shares in the company, valued at $1,387,203.84. This represents a 14.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

UBSI has been the topic of a number of research reports. Stephens reissued an “equal weight” rating and issued a $43.00 price objective on shares of United Bankshares in a report on Monday, January 27th. Keefe, Bruyette & Woods decreased their price objective on shares of United Bankshares from $46.00 to $45.00 and set a “market perform” rating for the company in a research note on Monday, January 27th. Finally, StockNews.com lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Monday, January 27th.

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.