Shares of United Bankshares, Inc. (NASDAQ:UBSI) reached a new 52-week high on Tuesday . The stock traded as high as $39.95 and last traded at $39.90, with a volume of 4923 shares changing hands. The stock had previously closed at $39.30.
Several analysts recently weighed in on UBSI shares. BidaskClub upgraded shares of United Bankshares from a “strong sell” rating to a “sell” rating in a report on Thursday, April 26th. DA Davidson cut their price target on shares of United Bankshares from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Friday, April 27th. Zacks Investment Research upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a report on Tuesday, May 1st. ValuEngine cut shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Finally, TheStreet upgraded shares of United Bankshares from a “c+” rating to a “b-” rating in a report on Wednesday, June 6th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $39.33.
The firm has a market cap of $4.08 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 1.97 and a beta of 1.05. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55.
United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, July 26th. The financial services provider reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. United Bankshares had a net margin of 24.38% and a return on equity of 7.40%. The firm had revenue of $185.13 million for the quarter, compared to analysts’ expectations of $184.65 million. During the same quarter in the previous year, the business posted $0.37 EPS. equities analysts forecast that United Bankshares, Inc. will post 2.5 earnings per share for the current year.
In other news, Director Peter A. Converse sold 2,500 shares of United Bankshares stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $39.50, for a total value of $98,750.00. Following the completion of the transaction, the director now owns 471,810 shares of the company’s stock, valued at approximately $18,636,495. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Peter A. Converse sold 5,000 shares of United Bankshares stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $39.00, for a total value of $195,000.00. Following the completion of the transaction, the director now directly owns 474,310 shares of the company’s stock, valued at approximately $18,498,090. The disclosure for this sale can be found here. Insiders own 5.15% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of UBSI. Citigroup Inc. raised its position in shares of United Bankshares by 187.6% in the 1st quarter. Citigroup Inc. now owns 4,285 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 2,795 shares during the last quarter. Mount Yale Investment Advisors LLC purchased a new position in shares of United Bankshares in the 1st quarter worth about $159,000. Hsbc Holdings PLC purchased a new position in shares of United Bankshares in the 1st quarter worth about $200,000. Personal Capital Advisors Corp purchased a new position in shares of United Bankshares in the 1st quarter worth about $221,000. Finally, Ridgewood Investments LLC purchased a new position in shares of United Bankshares in the 2nd quarter worth about $224,000. 71.87% of the stock is owned by hedge funds and other institutional investors.
United Bankshares Company Profile (NASDAQ:UBSI)
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, and NOW accounts.
Further Reading: Stock Symbol
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