Morgan Stanley reduced its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 35.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 185,768 shares of the financial services provider’s stock after selling 100,119 shares during the period. Morgan Stanley owned about 0.23% of United Bankshares worth $7,849,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in UBSI. FMR LLC boosted its position in shares of United Bankshares by 3.0% in the fourth quarter. FMR LLC now owns 6,136 shares of the financial services provider’s stock valued at $284,000 after buying an additional 181 shares during the last quarter. City Holding Co. boosted its stake in United Bankshares by 0.8% in the first quarter. City Holding Co. now owns 24,191 shares of the financial services provider’s stock valued at $1,022,000 after buying an additional 200 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in United Bankshares by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 8,980 shares of the financial services provider’s stock valued at $379,000 after buying an additional 220 shares during the last quarter. LS Investment Advisors LLC boosted its stake in United Bankshares by 9.7% in the first quarter. LS Investment Advisors LLC now owns 2,766 shares of the financial services provider’s stock valued at $117,000 after buying an additional 244 shares during the last quarter. Finally, Sigma Planning Corp boosted its stake in United Bankshares by 3.5% in the first quarter. Sigma Planning Corp now owns 9,130 shares of the financial services provider’s stock valued at $386,000 after buying an additional 307 shares during the last quarter. 52.25% of the stock is owned by institutional investors.
United Bankshares, Inc. (NASDAQ:UBSI) traded down 1.21% on Friday, hitting $32.75. The stock had a trading volume of 1,147,827 shares. The company’s 50 day moving average price is $35.97 and its 200-day moving average price is $39.99. United Bankshares, Inc. has a 12-month low of $31.71 and a 12-month high of $49.35. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 17.52 and a beta of 1.05.
United Bankshares (NASDAQ:UBSI) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.14. The firm had revenue of $176.75 million for the quarter, compared to the consensus estimate of $164.09 million. United Bankshares had a return on equity of 6.42% and a net margin of 25.20%. During the same quarter last year, the company posted $0.44 EPS. Equities research analysts anticipate that United Bankshares, Inc. will post $1.92 EPS for the current year.
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UBSI has been the subject of several recent analyst reports. BidaskClub cut United Bankshares from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research cut United Bankshares from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Finally, Boenning Scattergood upgraded United Bankshares from an “underperform” rating to a “neutral” rating in a research note on Thursday, May 18th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. United Bankshares currently has an average rating of “Hold” and a consensus target price of $42.63.
In related news, Chairman Richard M. Sr Adams, Sr. purchased 7,405 shares of the stock in a transaction on Tuesday, August 15th. The shares were purchased at an average cost of $33.85 per share, with a total value of $250,659.25. Following the acquisition, the chairman now directly owns 631,170 shares in the company, valued at $21,365,104.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Richard M. Adams, Jr. purchased 2,342 shares of the stock in a transaction on Monday, August 14th. The stock was bought at an average cost of $33.25 per share, for a total transaction of $77,871.50. Following the completion of the acquisition, the president now owns 51,867 shares in the company, valued at $1,724,577.75. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 13,747 shares of company stock valued at $460,281. Company insiders own 7.50% of the company’s stock.
United Bankshares Company 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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