Saturday, June 25, 2022

Monitoring United Bankshares Inc. (UBSI) after recent insider movements

United Bankshares Inc.’s recently made public that its Chairman of the Board ADAMS RICHARD M SR acquired Company’s shares for reported $0.26 million on Apr 29. In the deal valued at $33.60 per share,7,776 shares were bought. As a result of this transaction, ADAMS RICHARD M SR now holds 20,557 shares worth roughly $ 0.72 million.

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Taking this into account, DA Davidson downgraded its United Bankshares Inc. [UBSI] rating to a Neutral from a a Buy in a research note published on Tuesday, December 15, 2021; the price target was decreased to $38 from $44. PT values the company’s stock at a premium of 8.03 to its Tuesday closing price. A number of analysts have revised their coverage, including Raymond James’s analysts, who increased its forecast for the stock in early February from “a Mkt perform” to “an Outperform”. Keefe Bruyette also remained covering UBSI and has decreased its forecast on November 19, 2020 with a “Mkt perform” recommendation from previously “an Outperform” rating.

Price Performance Review of UBSI

On Tuesday, United Bankshares Inc. [NASDAQ:UBSI] saw its stock jump 2.49% to $34.95. On the same session, the stock had its day’s lowest price of $34.405, but rose to a high of $35.11. Over the last five days, the stock has gained 0.17%. United Bankshares Inc. shares have fallen nearly -3.67% since the year began. Nevertheless, the stocks have fallen -6.92% over the past one year. While a 52-week high of $39.79 was reached on 01/13/22, a 52-week low of $31.74 was recorded on 05/02/22. SMA at 50 days reached $35.14, while 200 days put it at $35.92. A total of 0.6 million shares were traded, compared to the trading of 0.69 million shares in the previous session.

Levels Of Support And Resistance For UBSI Stock

The 24-hour chart illustrates a support level at 34.53, which if violated will result in even more drops to 34.12. On the upside, there is a resistance level at 35.24. A further resistance level may holdings at 35.53. The Relative Strength Index (RSI) on the 14-day chart is 45.83, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.52, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 66.67%. Stochastics %K at 18.62% indicates the stock is a buying.

United Bankshares Inc. [UBSI] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 17,168,871 shares, or roughly 12.69% of the outstanding UBSI shares. In other words, the investor’s shares have risen by 449,454 from its previous 13-F filing of 16719417.0. Additionally, SSgA Funds Management, Inc. increased 24.47% of its stake after which the total value it holdings stand at $531,709,689, while The Vanguard Group, Inc. added 1.93% of its stake to hold $508.74 million in the firm. Over the last quarter, Dimensional Fund Advisors LP purchased 73,888 shares of United Bankshares Inc., while Silvercrest Asset Management Grou bought 563,345 shares. At present, EARNEST Partners LLC is holding 3,229,398 shares valued at $121.3 million. Geode Capital Management LLC owned 2,484,274 shares of the company at the time of its most recent 13F filing, worth $93.31 million.

According to FactSet, United Bankshares Inc.’s share price will average $38.75 in the next year, based on opinions of analysts polled by the firm. This is up nearly 12.9 percent from its previous closing price of $34.10. Analysts expect United Bankshares Inc. stock to reach the higher price of $40.00, while the lowest price estimate is $38.00.

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