Blue Trust Inc. Trims Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Blue Trust Inc. lessened its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 35.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,052 shares of the financial services provider’s stock after selling 1,127 shares during the period. Blue Trust Inc.’s holdings in United Bankshares were worth $77,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB boosted its position in 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 valued at $54,000 after acquiring an additional 1,364 shares in the last quarter. Milestone Asset Management LLC bought a new stake in United Bankshares during the 4th quarter valued at approximately $201,000. Choreo LLC bought a new stake in United Bankshares during the 4th quarter valued at approximately $206,000. Quest Partners LLC boosted its position in United Bankshares by 377.2% during the 3rd quarter. Quest Partners LLC now owns 5,641 shares of the financial services provider’s stock valued at $209,000 after acquiring an additional 4,459 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in United Bankshares by 12.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,656 shares of the financial services provider’s stock valued at $214,000 after acquiring an additional 608 shares in the last quarter. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at United Bankshares

In related news, Director J Paul Mcnamara sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $42.86, for a total value of $107,150.00. Following the transaction, the director now directly owns 63,409 shares of the company’s stock, valued at approximately $2,717,709.74. This represents a 3.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark R. Nesselroad sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $39.16, for a total value 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 trade represents a 14.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.66% of the company’s stock.

United Bankshares Stock Performance

Shares of UBSI opened at $35.53 on Monday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average price is $38.00 and its 200-day moving average price is $38.39. United Bankshares, Inc. has a 52 week low of $30.68 and a 52 week high of $44.43. The stock has a market cap of $4.80 billion, a P/E ratio of 12.97 and a beta of 1.02.

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

United Bankshares 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.