DAVENPORT & Co LLC Sells 517 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

On February 8, 2025, it was reported that DAVENPORT & Co LLC has decreased its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 3.1% during the fourth quarter of last year. According to the latest Form 13F filed with the Securities and Exchange Commission, the firm now holds 15,945 shares after selling 517 shares in the quarter. The remaining investment in United Bankshares is valued at approximately $599,000.

Additionally, other institutional investors and hedge funds have made changes to their positions in United Bankshares. Notably, UMB Bank n.a. increased its holding by a significant 237.6% in the third quarter, now owning 844 shares worth about $31,000 after buying 594 additional shares. GAMMA Investing LLC also reported a 34.6% rise in shares, bringing its total to 2,079 shares, now valued at $77,000, following a purchase of 534 shares.

Moreover, Milestone Asset Management LLC established a new stake valued at around $201,000 during the fourth quarter, while Quest Partners LLC increased its investment by 377.2%, securing 5,641 shares worth $209,000 after acquiring 4,459 shares in the third quarter. Lastly, Centiva Capital LP initiated a new position in United Bankshares worth approximately $213,000. Presently, institutional investors and hedge funds hold about 70.80% of the company’s stock.

Insider Trading Activity

In terms of insider transactions, Mark R. Nesselroad, a director at United Bankshares, sold 6,000 shares on December 18, which totaled about $234,960 at an average price of $39.16 per share. After this sale, he retains 35,424 shares, which are valued at around $1,387,203.84, reflecting a 14.48% dip in his holdings. Similarly, J Paul Mcnamara, another director, sold 2,500 shares on November 26 at an average price of $42.86, amounting to $107,150. Post-transaction, he holds 63,409 shares valued at approximately $2,717,709.74, marking a 3.79% reduction in his stake. Corporate insiders collectively own about 3.66% of United Bankshares stock.

Analyst Adjustments and Forecast

Recent analyst reports have shed light on the stock's performance. Keefe, Bruyette & Woods adjusted their price target from $46.00 to $45.00 while maintaining a "market perform" rating. Likewise, Stephens reaffirmed an "equal weight" rating with a revised price target of $43.00. Furthermore, StockNews.com lowered their rating from "hold" to "sell" on January 27, indicating a cautious outlook.

As for the stock's actual performance, as of recently, United Bankshares stock was trading at $38.60. The company maintains a current ratio of 0.98, a quick ratio of 0.98, and a low debt-to-equity ratio of 0.11. Over the past year, the stock reached a low of $30.68 and a high of $44.43, with a market capitalization of $5.22 billion, a price-to-earnings ratio of 14.09, and a beta value of 1.02. Its 50-day moving average is currently $38.74, while the 200-day moving average stands at $38.35.

During the latest earnings report released on January 24, United Bankshares reported earnings per share (EPS) of $0.69 for the quarter, slightly exceeding analysts' expectations of $0.68 EPS. The company recorded a net margin of 22.94% and a return on equity of 7.60%, improving from $0.59 EPS during the same quarter the previous year. Analysts forecast that United Bankshares, Inc. will achieve an EPS of 2.82 for the current fiscal year.

About United Bankshares

United Bankshares, Inc. offers a variety of banking products and services across the United States through its subsidiaries. The company operates primarily in two segments: Community Banking and Mortgage Banking. They offer various account types including checking, savings, money market accounts, individual retirement accounts, and more.

Divestment, Investment, Stocks