According to Zacks, “United Bankshares, Inc. is a bank holding company whose business is the operation of its bank subsidiaries. All of United’s subsidiary banks are full-service commercial banks. 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. “
Several other research firms have also recently commented on UBSI. BidaskClub cut shares of United Bankshares from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th. ValuEngine cut shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Boenning Scattergood restated a “neutral” rating on shares of United Bankshares in a research report on Thursday, June 20th.
Shares of NASDAQ:UBSI opened at $38.49 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.53. United Bankshares has a fifty-two week low of $29.13 and a fifty-two week high of $39.98. The firm has a 50-day simple moving average of $37.80 and a 200 day simple moving average of $37.33. The company has a market cap of $3.90 billion, a PE ratio of 15.71 and a beta of 1.23.
United Bankshares (NASDAQ:UBSI) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. United Bankshares had a net margin of 29.01% and a return on equity of 7.90%. The firm had revenue of $190.35 million during the quarter, compared to analysts’ expectations of $183.29 million. During the same quarter in the prior year, the firm earned $0.63 EPS. As a group, research analysts forecast that United Bankshares will post 2.53 EPS for the current fiscal year.
In other news, Director Mary K. Weddle bought 2,300 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was purchased at an average price of $35.19 per share, for a total transaction of $80,937.00. Following the transaction, the director now owns 11,776 shares in the company, valued at $414,397.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.62% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of UBSI. Bank of New York Mellon Corp boosted its holdings in shares of United Bankshares by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 1,400,515 shares of the financial services provider’s stock valued at $51,944,000 after acquiring an additional 9,420 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its holdings in shares of United Bankshares by 25.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 8,500 shares of the financial services provider’s stock valued at $315,000 after acquiring an additional 1,700 shares in the last quarter. Great Lakes Advisors LLC bought a new position in shares of United Bankshares in the second quarter valued at approximately $5,917,000. JPMorgan Chase & Co. boosted its holdings in shares of United Bankshares by 46.5% in the second quarter. JPMorgan Chase & Co. now owns 956,448 shares of the financial services provider’s stock valued at $35,197,000 after acquiring an additional 303,402 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of United Bankshares by 1.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 765,429 shares of the financial services provider’s stock valued at $28,390,000 after acquiring an additional 7,682 shares in the last quarter. Hedge funds and other institutional investors own 70.15% of the company’s stock.
United Bankshares Company Profile
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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