Viking Fund Management LLC Sells 55,000 Shares of United Bankshares, Inc. (UBSI)

Viking Fund Management LLC cut its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 65.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,000 shares of the financial services provider’s stock after selling 55,000 shares during the period. Viking Fund Management LLC’s holdings in United Bankshares were worth $1,008,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in UBSI. Tower Research Capital LLC TRC purchased a new stake in United Bankshares during the 2nd quarter worth about $135,000. Chicago Partners Investment Group LLC purchased a new stake in United Bankshares during the 3rd quarter worth about $216,000. Riverhead Capital Management LLC lifted its holdings in United Bankshares by 102.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,678 shares of the financial services provider’s stock worth $223,000 after buying an additional 2,878 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in United Bankshares during the 3rd quarter worth about $241,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in United Bankshares during the 2nd quarter worth about $248,000. Hedge funds and other institutional investors own 65.44% of the company’s stock.

A number of brokerages have issued reports on UBSI. Sandler O’Neill set a $38.00 price target on United Bankshares and gave the stock a “hold” rating in a report on Thursday, January 4th. Zacks Investment Research downgraded United Bankshares from a “strong-buy” rating to a “hold” rating in a report on Saturday, December 30th. BidaskClub raised United Bankshares from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Finally, Boenning Scattergood reissued a “hold” rating on shares of United Bankshares in a report on Friday, October 27th. One research 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 stock. United Bankshares currently has a consensus rating of “Hold” and an average target price of $42.25.

In related news, Director Michael P. Fitzgerald sold 27,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $37.05, for a total value of $1,000,350.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 6.23% of the company’s stock.

United Bankshares, Inc. (UBSI) traded up $0.80 during trading on Friday, hitting $34.45. The stock had a trading volume of 1,021,164 shares, compared to its average volume of 764,661. United Bankshares, Inc. has a fifty-two week low of $31.70 and a fifty-two week high of $46.35. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.04 and a quick ratio of 1.02. The stock has a market cap of $3,616.97, a P/E ratio of 17.94, a P/E/G ratio of 1.73 and a beta of 1.05.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Tuesday, January 30th. The financial services provider reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The business had revenue of $187.62 million during the quarter, compared to the consensus estimate of $182.94 million. United Bankshares had a return on equity of 6.28% and a net margin of 19.93%. During the same period in the previous year, the business earned $0.51 EPS. sell-side analysts forecast that United Bankshares, Inc. will post 2.49 earnings per share for the current year.

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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.

Institutional Ownership by Quarter for United Bankshares (NASDAQ:UBSI)

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