Pitcairn Co. bought a new position in United Bankshares, Inc. (NASDAQ:UBSI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,259 shares of the financial services provider’s stock, valued at approximately $324,000.

Several other institutional investors have also made changes to their positions in UBSI. Sigma Planning Corp raised its position in shares of United Bankshares by 98.7% in the second quarter. Sigma Planning Corp now owns 18,142 shares of the financial services provider’s stock worth $711,000 after buying an additional 9,012 shares during the period. Rhumbline Advisers raised its position in shares of United Bankshares by 35.6% in the second quarter. Rhumbline Advisers now owns 215,932 shares of the financial services provider’s stock worth $8,465,000 after buying an additional 56,654 shares during the period. Teacher Retirement System of Texas raised its position in shares of United Bankshares by 23.4% in the second quarter. Teacher Retirement System of Texas now owns 7,965 shares of the financial services provider’s stock worth $312,000 after buying an additional 1,509 shares during the period. First Trust Advisors LP raised its position in shares of United Bankshares by 13.0% in the second quarter. First Trust Advisors LP now owns 254,659 shares of the financial services provider’s stock worth $9,983,000 after buying an additional 29,320 shares during the period. Finally, Arizona State Retirement System raised its position in shares of United Bankshares by 4.6% in the second quarter. Arizona State Retirement System now owns 44,200 shares of the financial services provider’s stock worth $1,733,000 after buying an additional 1,952 shares during the period. Institutional investors and hedge funds own 52.25% of the company’s stock.

Shares of United Bankshares, Inc. (UBSI) opened at 33.25 on Wednesday. The firm’s 50 day moving average is $36.53 and its 200 day moving average is $40.17. United Bankshares, Inc. has a 12 month low of $31.71 and a 12 month high of $49.35. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 17.79 and a beta of 1.05.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, July 27th. The financial services provider reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.14. United Bankshares had a return on equity of 6.42% and a net margin of 25.20%. The company had revenue of $176.75 million during the quarter, compared to analyst estimates of $164.09 million. During the same period in the prior year, the business earned $0.44 earnings per share. On average, equities analysts predict that United Bankshares, Inc. will post $1.92 earnings per share for the current fiscal year.

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A number of equities analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. BidaskClub lowered shares of United Bankshares from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. Finally, Boenning Scattergood upgraded shares of United Bankshares from an “underperform” rating to a “neutral” rating in a research report on Thursday, May 18th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $42.63.

In other United Bankshares news, Chairman Richard M. Sr Adams, Sr. purchased 7,405 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was bought at an average price of $33.85 per share, with a total value of $250,659.25. Following the completion of the purchase, the chairman now owns 631,170 shares in the company, valued at approximately $21,365,104.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael P. Fitzgerald sold 13,038 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $40.04, for a total value of $522,041.52. Following the completion of the transaction, the director now directly owns 12,738 shares of the company’s stock, valued at approximately $510,029.52. The disclosure for this sale can be found here. In the last three months, insiders bought 13,747 shares of company stock valued at $460,281. Company insiders own 7.50% of the company’s stock.

About United Bankshares

United Bankshares, Inc (United) is a bank holding company. The Company operates through community banking segment. United’s Banking Subsidiaries offer a range of commercial and retail banking services and products. United, through its subsidiaries, engages in community banking and offers banking products and services permitted by law and regulation.

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

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