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

Commonwealth Financial Services LLC cut its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 7.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,588 shares of the financial services provider’s stock after selling 647 shares during the quarter. Commonwealth Financial Services LLC’s holdings in United Bankshares were worth $322,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on UBSI. StockNews.com cut United Bankshares from a “hold” rating to a “sell” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods cut their price target 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 report on Monday, January 27th.

United Bankshares Stock Down 2.4 %

NASDAQ:UBSI opened at $37.59 on Tuesday. The company has a market cap of $5.08 billion, a PE ratio of 13.72 and a beta of 1.02. The stock has a 50-day simple moving average of $39.04 and a 200 day simple moving average of $38.33. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. United Bankshares, Inc. has a 52-week low of $30.68 and a 52-week high of $44.43.

United Bankshares (NASDAQ:UBSI) last issued 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 quarter in the previous year, the company posted $0.59 earnings per share. On average, sell-side analysts expect that United Bankshares, Inc. will post 2.82 EPS for the current fiscal year.

United Bankshares Dividend Announcement

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

Insider Activity

In other United Bankshares news, Director J Paul Mcnamara sold 2,500 shares of the stock in a transaction on Tuesday, November 26th. The shares were 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 owns 63,409 shares in the company, valued at $2,717,709.74. This trade represents a 3.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Peter A. Converse sold 5,000 shares of United Bankshares stock in a transaction dated 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 of the company’s stock, valued at $17,390,760. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,500 shares of company stock worth $542,110 in the last quarter. 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.