Milestone Asset Management LLC Purchases New Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Milestone Asset Management LLC acquired a new position in United Bankshares, Inc. (NASDAQ:UBSIFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,353 shares of the financial services provider’s stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds have also made changes to their positions in UBSI. Victory Capital Management Inc. boosted its position in shares of United Bankshares by 0.4% in the 3rd quarter. Victory Capital Management Inc. now owns 3,997,311 shares of the financial services provider’s stock worth $148,300,000 after purchasing an additional 14,833 shares in the last quarter. Geode Capital Management LLC boosted its holdings in United Bankshares by 1.7% in the third quarter. Geode Capital Management LLC now owns 3,306,542 shares of the financial services provider’s stock worth $122,695,000 after acquiring an additional 53,994 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of United Bankshares by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,673,056 shares of the financial services provider’s stock worth $62,070,000 after acquiring an additional 83,503 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of United Bankshares by 16.7% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,558,081 shares of the financial services provider’s stock valued at $57,805,000 after acquiring an additional 223,150 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of United Bankshares by 1.4% in the 3rd quarter. Fisher Asset Management LLC now owns 1,221,493 shares of the financial services provider’s stock worth $45,317,000 after purchasing an additional 16,782 shares during the last quarter. Institutional investors own 70.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on UBSI. Keefe, Bruyette & Woods reduced 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 research report on Monday. Stephens restated an “equal weight” rating and issued a $43.00 price target on shares of United Bankshares in a research note on Monday. Finally, StockNews.com downgraded United Bankshares from a “hold” rating to a “sell” rating in a report on Monday.

Get Our Latest Research Report on United Bankshares

Insider Activity

In other news, Director J Paul Mcnamara sold 2,500 shares of United Bankshares 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 transaction, the director now directly owns 63,409 shares of the company’s stock, valued at $2,717,709.74. The trade was a 3.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction of $200,000.00. Following the completion of the sale, the director now directly owns 434,769 shares of the company’s stock, valued at $17,390,760. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,500 shares of company stock valued at $542,110 in the last quarter. 3.66% of the stock is currently owned by insiders.

United Bankshares Stock Up 0.4 %

Shares of United Bankshares stock opened at $38.47 on Friday. United Bankshares, Inc. has a twelve month low of $30.68 and a twelve month high of $44.43. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The company’s 50 day moving average is $39.24 and its 200 day moving average is $38.29. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 14.04 and a beta of 1.03.

United Bankshares (NASDAQ:UBSIGet Free Report) last released its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the business posted $0.59 EPS. Research analysts anticipate that United Bankshares, Inc. will post 2.82 EPS for the current year.

United Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a dividend of $0.37 per share. The ex-dividend date was Friday, December 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.85%. United Bankshares’s dividend payout ratio is currently 54.01%.

United Bankshares Profile

(Free Report)

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.

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

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