New York State Common Retirement Fund Sells 2,277 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

New York State Common Retirement Fund reduced its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 639,329 shares of the financial services provider’s stock after selling 2,277 shares during the quarter. New York State Common Retirement Fund owned approximately 0.47% of United Bankshares worth $24,007,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB lifted its stake in shares of United Bankshares by 1,921.1% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 1,364 shares during the last quarter. Principal Securities Inc. lifted its stake 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 worth $117,000 after purchasing an additional 285 shares during the last quarter. Milestone Asset Management LLC purchased a new stake in shares of United Bankshares during the 4th quarter worth $201,000. Choreo LLC purchased a new stake in shares of United Bankshares during the 4th quarter worth $206,000. Finally, Quest Partners LLC lifted 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 last quarter. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on UBSI. Keefe, Bruyette & Woods decreased their price target on 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. Stephens reiterated an “equal weight” rating and issued a $43.00 price target on shares of United Bankshares in a research note on Monday, January 27th. Finally, StockNews.com cut United Bankshares from a “hold” rating to a “sell” rating in a research note on Monday, January 27th.

Insider Buying and Selling at United Bankshares

In other news, Director Mark R. Nesselroad sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $39.16, for a total value of $234,960.00. Following the transaction, the director now owns 35,424 shares in the company, valued at $1,387,203.84. This trade represents a 14.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director J Paul Mcnamara sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $42.86, for a total value of $107,150.00. Following the completion of the transaction, the director now owns 63,409 shares in the company, valued at approximately $2,717,709.74. This trade represents a 3.79 % decrease in their position. The disclosure for this sale can be found here. 3.66% of the stock is owned by corporate insiders.

United Bankshares Stock Down 3.4 %

Shares of UBSI stock opened at $35.53 on Friday. The stock’s 50-day simple moving average is $38.00 and its 200-day simple moving average is $38.35. 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 firm has a market capitalization of $4.80 billion, a PE ratio of 12.97 and a beta of 1.02. United Bankshares, Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $44.43.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Friday, January 24th. The financial services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. During the same quarter last year, the business earned $0.59 EPS. Equities analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

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.