StockNews.com upgraded shares of United Bankshares (NASDAQ:UBSI – Get Rating) from a sell rating to a hold rating in a report published on Friday.
Several other brokerages have also recently issued reports on UBSI. DA Davidson restated a neutral rating on shares of United Bankshares in a research report on Wednesday, July 27th. Janney Montgomery Scott began coverage on United Bankshares in a report on Tuesday. They set a buy rating and a $40.00 price objective for the company. Finally, Raymond James cut their target price on United Bankshares from $40.00 to $39.00 and set an outperform rating on the stock in a report on Thursday, July 7th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $39.00.
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United Bankshares Price Performance
Shares of UBSI opened at $35.99 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.18. The stock has a market cap of $4.84 billion, a PE ratio of 13.95 and a beta of 1.10. United Bankshares has a 12-month low of $31.74 and a 12-month high of $40.85. The business has a 50-day simple moving average of $37.43 and a two-hundred day simple moving average of $35.96.
United Bankshares (NASDAQ:UBSI – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.08. United Bankshares had a return on equity of 7.53% and a net
margin of 33.26%. During the same period in the prior year, the company earned $0.73 earnings per share. Analysts anticipate that United Bankshares will post 2.81 earnings per share for the current fiscal year.
United Bankshares Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $1.44 annualized dividend and a dividend yield of 4.00%. United Bankshares's payout ratio is 55.81%.
Institutional Investors Weigh In On United Bankshares
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE raised its holdings in shares of United Bankshares by 5.7% in the fourth quarter. Bank of America Corp DE now owns 837,683 shares of the financial services provider's stock valued at $30,392,000 after purchasing an additional 45,153 shares during the last quarter. UMB Bank N A MO bought a new position in shares of United Bankshares during the 4th quarter worth approximately $66,000. Lazard Asset Management LLC purchased a new position in shares of United Bankshares in the 4th quarter worth approximately $55,000. BNP Paribas Arbitrage SA boosted its stake in shares of United Bankshares by 111.5% in the 4th quarter. BNP Paribas Arbitrage SA now owns 68,730 shares of the financial services provider's stock worth $2,494,000 after buying an additional 36,234 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of United Bankshares by 4.1% during the fourth quarter. Principal Financial Group Inc. now owns 465,554 shares of the financial services provider's stock valued at $16,890,000 after acquiring an additional 18,423 shares during the last quarter. 69.61% of the stock is owned by hedge funds and other institutional investors.
United Bankshares Company Profile
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United Bankshares, Inc, a financial holding company, 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, NOW accounts, and interest-bearing checking accounts.
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