New York State Common Retirement Fund Decreases Stock Position in United Bankshares, Inc. (NASDAQ:UBSI)

New York State Common Retirement Fund lessened its position in United Bankshares, Inc. (NASDAQ:UBSI) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 639,329 shares of the financial services provider’s stock after selling 2,277 shares during the quarter. New York State Common Retirement Fund’s holdings in United Bankshares were worth $24,007,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in UBSI. Kestra Investment Management LLC purchased a new position in United Bankshares during the fourth quarter worth approximately $469,000. Truist Financial Corp lifted its position in United Bankshares by 69.8% during the fourth quarter. Truist Financial Corp now owns 22,916 shares of the financial services provider’s stock worth $860,000 after buying an additional 9,418 shares in the last quarter. Principal Securities Inc. lifted its position in United Bankshares by 10.1% during the fourth quarter. Principal Securities Inc. now owns 3,115 shares of the financial services provider’s stock worth $117,000 after buying an additional 285 shares in the last quarter. Rhumbline Advisers lifted its position in United Bankshares by 1.3% during the fourth quarter. Rhumbline Advisers now owns 455,157 shares of the financial services provider’s stock worth $17,091,000 after buying an additional 6,002 shares in the last quarter. Finally, Kestra Private Wealth Services LLC purchased a new position in United Bankshares during the fourth quarter worth approximately $419,000. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Insider Activity

In other news, Director J Paul Mcnamara sold 2,500 shares of United Bankshares stock in a transaction 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 completion of the sale, the director now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark R. Nesselroad sold 6,000 shares of United Bankshares stock in a transaction 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 sale, the director now directly owns 35,424 shares of the company’s stock, valued at $1,387,203.84. The trade was 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 Price Performance

NASDAQ:UBSI opened at $35.53 on Friday. United Bankshares, Inc. has a 52 week low of $30.68 and a 52 week high of $44.43. 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 company has a market capitalization of $4.80 billion, a P/E ratio of 12.97 and a beta of 1.02. The stock’s fifty day moving average is $38.00 and its two-hundred day moving average is $38.35.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Friday, January 24th. The financial services provider reported $0.69 EPS for the quarter, beating 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 prior year, the company earned $0.59 EPS. Equities analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on UBSI. Stephens reiterated an “equal weight” rating and set a $43.00 price objective on shares of United Bankshares in a research report on Monday, January 27th. Keefe, Bruyette & Woods reduced 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. Finally, StockNews.com downgraded United Bankshares from a “hold” rating to a “sell” rating in a research report on Monday, January 27th.

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.