Fuller & Thaler Asset Management Inc. Sells 9,762 Shares of United Bankshares, Inc. $UBSI

Key Points

• Fuller & Thaler Asset Management Inc. reduced its stake in United Bankshares by 0.6%, selling 9,762 shares and retaining approximately 1.04% of the company, valued at about $51.9 million.
• United Bankshares recently reported quarterly earnings of $0.85 per share, surpassing analysts' consensus estimate of $0.77, with total revenue reaching $306 million.
• Market analysts have mixed outlooks on United Bankshares, with one downgrade to 'sell' and an average target price of $40.50.

Fuller & Thaler Asset Management Inc. decreased its position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 0.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,498,044 shares of the financial services provider's stock after selling 9,762 shares during the quarter. Fuller & Thaler Asset Management Inc. owned approximately 1.04% of United Bankshares worth $51,937,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC lifted its holdings in United Bankshares by 0.8% in the first quarter. Cerity Partners LLC now owns 42,211 shares of the financial services provider's stock valued at $1,463,000 after acquiring an additional 346 shares during the period. Amalgamated Bank lifted its holdings in United Bankshares by 1.1% in the first quarter. Amalgamated Bank now owns 62,509 shares of the financial services provider's stock valued at $2,167,000 after acquiring an additional 698 shares during the period. New York State Teachers Retirement System lifted its holdings in United Bankshares by 0.5% in the first quarter. New York State Teachers Retirement System now owns 133,107 shares of the financial services provider's stock valued at $4,615,000 after acquiring an additional 600 shares during the period. State of Alaska Department of Revenue lifted its holdings in United Bankshares by 8.6% in the first quarter. State of Alaska Department of Revenue now owns 16,719 shares of the financial services provider's stock valued at $579,000 after acquiring an additional 1,330 shares during the period. Finally, Nomura Holdings Inc. bought a new position in United Bankshares in the fourth quarter valued at about $671,000. Institutional investors own 70.80% of the company's stock.

United Bankshares Price Performance

Shares of NASDAQ:UBSI traded up $1.82 during trading on Friday, hitting $38.73. 778,061 shares of the company's stock were exchanged, compared to its average volume of 639,222. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98. United Bankshares, Inc. has a 52-week low of $30.50 and a 52-week high of $44.43. The business's 50-day simple moving average is $36.69 and its 200 day simple moving average is $35.77. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 13.69 and a beta of 0.79.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.08. United Bankshares had a return on equity of 7.65% and a net margin of 23.14%.The firm had revenue of $306.00 million during the quarter, compared to analysts' expectations of $297.98 million. During the same quarter last year, the business posted $0.71 earnings per share. As a group, equities analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on UBSI. Keefe, Bruyette & Woods lowered their target price on United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Wall Street Zen cut United Bankshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Zacks Research upgraded United Bankshares to a "hold" rating in a research report on Friday, August 8th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, United Bankshares has a consensus 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.