Several other research analysts have also recently weighed in on UBSI. Zacks Investment Research upgraded shares of United Bankshares from a hold rating to a buy rating and set a $41.00 price target on the stock in a report on Wednesday, April 3rd. Boenning Scattergood restated a neutral rating on shares of United Bankshares in a report on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating, The stock has an average rating of Hold and an average price target of $41.00.
United Bankshares stock opened at $37.50 on Friday. United Bankshares has a fifty-two week low of $29.13 and a fifty-two week high of $39.95. The stock has a market cap of $3.78 billion, a P/E ratio of 15.31, a PEG ratio of 1.82 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.02 and a current ratio of 1.04.
United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. United Bankshares had a net margin of 29.74% and a return on equity of 7.93%. The business had revenue of $176.38 million for the quarter, compared to analysts’ expectations of $174.76 million. During the same period in the previous year, the company earned $0.59 earnings per share. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, research analysts anticipate that United Bankshares will post 2.53 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.63%. The ex-dividend date is Thursday, June 13th. United Bankshares’s dividend payout ratio is 55.51%.
In other United Bankshares news, President Richard M. Adams, Jr. sold 14,790 shares of United Bankshares stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $37.97, for a total value of $561,576.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.62% of the company’s stock.
A number of hedge funds have recently made changes to their positions in UBSI. Oregon Public Employees Retirement Fund raised its position in United Bankshares by 3,011.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,291,812 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 1,250,288 shares during the period. Norges Bank bought a new stake in United Bankshares in the fourth quarter worth about $28,392,000. JPMorgan Chase & Co. raised its position in United Bankshares by 769.7% in the first quarter. JPMorgan Chase & Co. now owns 653,046 shares of the financial services provider’s stock worth $23,666,000 after acquiring an additional 577,959 shares during the period. BlackRock Inc. raised its position in United Bankshares by 3.2% in the fourth quarter. BlackRock Inc. now owns 14,488,480 shares of the financial services provider’s stock worth $450,737,000 after acquiring an additional 448,888 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in United Bankshares by 54.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,211,098 shares of the financial services provider’s stock worth $43,890,000 after acquiring an additional 427,570 shares during the period. 72.62% of the stock is currently owned by institutional investors and hedge funds.
About United Bankshares
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.
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