Peoples Bank National Association Lowers stake in United Bankshares (UBSI)

United Bankshares (UBSI) : Peoples Bank National Association reduced its stake in United Bankshares by 0.66% during the most recent quarter end. The investment management company now holds a total of 37,569 shares of United Bankshares which is valued at $1,442,650 after selling 250 shares in United Bankshares , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.United Bankshares makes up approximately 0.88% of Peoples Bank National Association’s portfolio.

Other Hedge Funds, Including , Blackrock Advisors reduced its stake in UBSI by selling 578 shares or 1.85% in the most recent quarter. The Hedge Fund company now holds 30,665 shares of UBSI which is valued at $1,177,536. Rafferty Asset Management sold out all of its stake in UBSI during the most recent quarter. The investment firm sold 13,479 shares of UBSI which is valued $520,963.Sandy Spring Bank reduced its stake in UBSI by selling 2,000 shares or 21.97% in the most recent quarter. The Hedge Fund company now holds 7,103 shares of UBSI which is valued at $274,886. United Bankshares makes up approx 0.03% of Sandy Spring Bank’s portfolio.

United Bankshares closed down -0.46 points or -1.17% at $38.94 with 4,18,198 shares getting traded on Thursday. Post opening the session at $39.44, the shares hit an intraday low of $38.6 and an intraday high of $39.55 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, United Bankshares reported $0.44 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $0.49.Analysts expectations of $ 119.90.During the same quarter in the previous year, the company posted $0.50 EPS.

United Bankshares Inc. (United) is a bank holding company. The Company has two banking subsidiaries (the Banking Subsidiaries): United Bank (WV) and United Bank (VA). United’s Banking Subsidiaries offer a range of commercial and retail banking services and products. United also owns nonbank subsidiaries which engage in other community banking services such as asset management real property title insurance financial planning and brokerage services. Included among the banking services offered are the acceptance of deposits in checking savings time and money market accounts; the making and servicing of personal commercial floor plan and student loans; and the making of construction and real estate loans. Also offered are individual retirement accounts safe deposit boxes wire transfers and other standard banking products and services. As part of its lending function the Banking Subsidiaries offer credit card services.

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