United Bankshares, Inc. (UBSI) Shares Sold by Edgemoor Investment Advisors Inc.
Edgemoor Investment Advisors Inc. reduced its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 81.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,511 shares of the financial services provider’s stock after selling 29,201 shares during the quarter. Edgemoor Investment Advisors Inc.’s holdings in United Bankshares were worth $238,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. UBS Asset Management Americas Inc. raised its holdings in United Bankshares by 26.1% in the second quarter. UBS Asset Management Americas Inc. now owns 61,518 shares of the financial services provider’s stock worth $2,412,000 after purchasing an additional 12,726 shares during the period. FMR LLC raised its holdings in United Bankshares by 87.7% in the second quarter. FMR LLC now owns 8,963 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 4,189 shares during the period. California Public Employees Retirement System raised its holdings in United Bankshares by 42.1% in the second quarter. California Public Employees Retirement System now owns 164,214 shares of the financial services provider’s stock worth $6,437,000 after purchasing an additional 48,614 shares during the period. Voya Investment Management LLC raised its holdings in United Bankshares by 30.4% in the second quarter. Voya Investment Management LLC now owns 42,918 shares of the financial services provider’s stock worth $1,682,000 after purchasing an additional 10,005 shares during the period. Finally, HighTower Advisors LLC raised its holdings in United Bankshares by 30.5% in the second quarter. HighTower Advisors LLC now owns 7,895 shares of the financial services provider’s stock worth $310,000 after purchasing an additional 1,845 shares during the period. Institutional investors and hedge funds own 65.81% of the company’s stock.
In related news, Director Michael P. Fitzgerald sold 27,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $37.05, for a total transaction of $1,000,350.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.23% of the company’s stock.
United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. United Bankshares had a net margin of 19.93% and a return on equity of 6.28%. The business had revenue of $187.62 million for the quarter, compared to analyst estimates of $182.94 million. During the same period last year, the business posted $0.51 earnings per share. analysts predict that United Bankshares, Inc. will post 2.49 EPS for the current year.
UBSI has been the topic of several analyst reports. Zacks Investment Research upgraded shares of United Bankshares from a “hold” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a report on Saturday, January 13th. Boenning Scattergood reiterated a “hold” rating on shares of United Bankshares in a report on Friday, October 27th. BidaskClub lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Finally, Sandler O’Neill set a $38.00 target price on shares of United Bankshares and gave the stock a “hold” rating in a report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $42.25.
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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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