Kestra Investment Management LLC Takes $469,000 Position in United Bankshares, Inc. (NASDAQ:UBSI)

Kestra Investment Management LLC bought a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 12,488 shares of the financial services provider’s stock, valued at approximately $469,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Integrated Investment Consultants LLC increased its holdings in United Bankshares by 2.2% in the fourth quarter. Integrated Investment Consultants LLC now owns 12,537 shares of the financial services provider’s stock valued at $471,000 after buying an additional 270 shares in the last quarter. Principal Securities Inc. increased its stake in shares of United Bankshares by 10.1% in the 4th quarter. Principal Securities Inc. now owns 3,115 shares of the financial services provider’s stock valued at $117,000 after purchasing an additional 285 shares in the last quarter. HighTower Advisors LLC raised its holdings in United Bankshares by 1.7% in the 3rd quarter. HighTower Advisors LLC now owns 19,542 shares of the financial services provider’s stock worth $730,000 after purchasing an additional 332 shares during the period. Daiwa Securities Group Inc. boosted its position in United Bankshares by 3.6% during the third quarter. Daiwa Securities Group Inc. now owns 12,328 shares of the financial services provider’s stock worth $457,000 after purchasing an additional 427 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of United Bankshares by 2.2% in the fourth quarter. Pacer Advisors Inc. now owns 20,108 shares of the financial services provider’s stock valued at $755,000 after buying an additional 432 shares in the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on UBSI. Keefe, Bruyette & Woods cut their price target on shares of United Bankshares from $46.00 to $45.00 and set a “market perform” rating for the company in a report on Monday, January 27th. StockNews.com downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Monday, January 27th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $43.00 price target on shares of United Bankshares in a research note on Monday, January 27th.

United Bankshares Trading Down 1.1 %

Shares of UBSI opened at $37.75 on Thursday. 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 $5.10 billion, a PE ratio of 13.78 and a beta of 1.02. The firm’s fifty day moving average is $38.19 and its two-hundred day moving average is $38.36. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11.

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

Insiders Place Their Bets

In related news, Director Mark R. Nesselroad sold 6,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 35,424 shares of the company’s stock, valued at approximately $1,387,203.84. This represents a 14.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director J Paul Mcnamara sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.86, for a total transaction of $107,150.00. Following the sale, the director now owns 63,409 shares of the company’s stock, valued at approximately $2,717,709.74. The trade was a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.66% of the company’s stock.

About United Bankshares

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.