LPL Financial LLC Trims Stock Position in United Bankshares, Inc. $UBSI

LPL Financial LLC lessened its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 0.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 68,432 shares of the financial services provider’s stock after selling 325 shares during the quarter. LPL Financial LLC’s holdings in United Bankshares were worth $2,373,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of UBSI. Raymond James Financial Inc. purchased a new position in United Bankshares in the 4th quarter valued at about $14,948,000. Northern Trust Corp raised its holdings in shares of United Bankshares by 13.7% during the fourth quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider’s stock valued at $66,614,000 after acquiring an additional 213,441 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of United Bankshares by 52.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 381,062 shares of the financial services provider’s stock valued at $14,309,000 after acquiring an additional 130,444 shares in the last quarter. Dover Advisors LLC acquired a new stake in shares of United Bankshares in the first quarter worth approximately $3,015,000. Finally, GAMMA Investing LLC boosted its stake in shares of United Bankshares by 3,462.3% in the first quarter. GAMMA Investing LLC now owns 81,683 shares of the financial services provider’s stock worth $2,832,000 after acquiring an additional 79,390 shares during the last quarter. Hedge funds and other institutional investors own 70.80% of the company’s stock.

United Bankshares Price Performance

NASDAQ:UBSI opened at $37.21 on Tuesday. The stock has a 50 day moving average price of $36.60 and a 200 day moving average price of $35.80. The stock has a market cap of $5.27 billion, a PE ratio of 13.15 and a beta of 0.79. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. United Bankshares, Inc. has a one year low of $30.50 and a one year high of $44.43.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.08. The business had revenue of $306.00 million during the quarter, compared to the consensus estimate of $297.98 million. United Bankshares had a return on equity of 7.65% and a net margin of 23.14%. During the same period last year, the company earned $0.71 EPS. Equities research analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

Analysts Set New Price Targets

UBSI has been the subject of several recent research reports. Keefe, Bruyette & Woods reduced their price objective on United Bankshares from $42.00 to $40.00 and set a “market perform” rating for the company in a research note on Monday, April 28th. Wall Street Zen lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Finally, Zacks Research raised shares of United Bankshares to a “hold” rating in a research note on Friday, August 8th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, United Bankshares has an average rating of “Hold” and an average target price of $40.50.

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.