Kingsview Wealth Management LLC Sells 279 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Kingsview Wealth Management LLC trimmed its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,697 shares of the financial services provider’s stock after selling 279 shares during the period. Kingsview Wealth Management LLC’s holdings in United Bankshares were worth $965,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. raised its stake in United Bankshares by 16.7% in the 3rd 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 during the period. Assenagon Asset Management S.A. purchased a new position in United Bankshares during the 4th quarter valued at about $7,383,000. Point72 Asset Management L.P. purchased a new position in United Bankshares during the 3rd quarter valued at about $6,186,000. Barclays PLC grew its holdings in United Bankshares by 89.5% during the 3rd quarter. Barclays PLC now owns 269,852 shares of the financial services provider’s stock valued at $10,012,000 after buying an additional 127,486 shares in the last quarter. Finally, Systematic Financial Management LP grew its holdings in United Bankshares by 40.1% during the 3rd quarter. Systematic Financial Management LP now owns 391,028 shares of the financial services provider’s stock valued at $14,507,000 after buying an additional 111,989 shares in the last quarter. 70.80% of the stock is currently owned by institutional investors.

United Bankshares Stock Performance

Shares of UBSI stock opened at $38.99 on Wednesday. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 14.23 and a beta of 1.02. The stock has a fifty day moving average of $38.62 and a 200 day moving average of $38.37. 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.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping 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 quarter in the prior year, the business posted $0.59 EPS. As a group, research analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

Insider Activity

In other news, Director Mark R. Nesselroad sold 6,000 shares of United Bankshares stock in a transaction that occurred 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 in the company, valued at $1,387,203.84. The trade was a 14.48 % 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 J Paul Mcnamara sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $42.86, for a total transaction of $107,150.00. Following the sale, the director now owns 63,409 shares of the company’s stock, valued at $2,717,709.74. This trade represents a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.66% of the company’s stock.

Analyst Ratings Changes

UBSI has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reduced their target price on United Bankshares from $46.00 to $45.00 and set a “market perform” rating for the company in a report on Monday, January 27th. StockNews.com lowered United Bankshares from a “hold” rating to a “sell” rating in a report on Monday, January 27th. Finally, Stephens reaffirmed an “equal weight” rating and set a $43.00 target price on shares of United Bankshares in a 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.