Commonwealth Financial Services LLC Sells 647 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Commonwealth Financial Services LLC cut its position in United Bankshares, Inc. (NASDAQ:UBSI) by 7.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,588 shares of the financial services provider’s stock after selling 647 shares during the period. Commonwealth Financial Services LLC’s holdings in United Bankshares were worth $322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its stake in United Bankshares by 237.6% during the 3rd quarter. UMB Bank n.a. now owns 844 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 594 shares during the period. GAMMA Investing LLC grew its holdings in shares of United Bankshares by 34.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,079 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 534 shares in the last quarter. Milestone Asset Management LLC bought a new position in shares of United Bankshares in the fourth quarter worth $201,000. Marathon Strategic Advisors LLC acquired a new position in United Bankshares in the third quarter valued at about $206,000. Finally, Quest Partners LLC lifted its position in United Bankshares by 377.2% during the third quarter. Quest Partners LLC now owns 5,641 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 4,459 shares during the period. 70.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other United Bankshares news, Director Mark R. Nesselroad sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $39.16, for a total value of $234,960.00. Following the transaction, the director now directly owns 35,424 shares of the company’s stock, valued at approximately $1,387,203.84. The trade was a 14.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter A. Converse sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $40.00, for a total value of $200,000.00. Following the transaction, the director now owns 434,769 shares in the company, valued at $17,390,760. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,500 shares of company stock valued at $542,110 in the last three months. Insiders own 3.66% of the company’s stock.

United Bankshares Stock Performance

Shares of UBSI stock opened at $37.59 on Tuesday. The firm has a market capitalization of $5.08 billion, a price-to-earnings ratio of 13.72 and a beta of 1.02. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The business’s 50-day moving average price is $39.04 and its 200-day moving average price is $38.33. United Bankshares, Inc. has a 12 month low of $30.68 and a 12 month high of $44.43.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Friday, January 24th. The financial services provider reported $0.69 EPS 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 quarter in the prior year, the firm posted $0.59 EPS. Equities research analysts forecast that United Bankshares, Inc. will post 2.82 EPS for the current year.

United Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were issued a $0.37 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.48 dividend on an annualized basis and a yield of 3.94%. United Bankshares’s payout ratio is 54.01%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. StockNews.com lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods decreased their price objective on shares of United Bankshares from $46.00 to $45.00 and set a “market perform” rating on the stock in a research note on Monday, January 27th. Finally, Stephens restated an “equal weight” rating and set a $43.00 price objective on shares of United Bankshares in a research report on Monday, January 27th.

United Bankshares Company 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.