United Bankshares (NASDAQ:UBSI) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of United Bankshares (NASDAQ:UBSI) from a sell rating to a hold rating in a report published on Tuesday morning.

A number of other equities research analysts have also recently issued reports on the stock. Piper Sandler reiterated a “neutral” rating and set a $38.50 target price on shares of United Bankshares in a research report on Wednesday, March 12th. Keefe, Bruyette & Woods cut their target price on shares of United Bankshares from $42.00 to $40.00 and set a “market perform” rating for the company in a research note on Monday, April 28th. Finally, Stephens reissued an “equal weight” rating and issued a $43.00 target price on shares of United Bankshares in a report on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, United Bankshares presently has an average rating of “Hold” and a consensus target price of $40.63.

United Bankshares Trading Up 0.8%

UBSI stock opened at $37.32 on Tuesday. United Bankshares has a 1-year low of $30.51 and a 1-year high of $44.43. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average is $34.23 and its 200-day moving average is $37.27. The firm has a market cap of $5.35 billion, a P/E ratio of 13.62 and a beta of 0.74.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.07). The company had revenue of $289.61 million during the quarter, compared to the consensus estimate of $279.02 million. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. The business’s revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the company earned $0.64 earnings per share. Equities analysts anticipate that United Bankshares will post 2.81 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, June 13th. This represents a $1.48 annualized dividend and a yield of 3.97%. United Bankshares’s dividend payout ratio (DPR) is 55.02%.

Insider Buying and Selling at United Bankshares

In other news, Director Sara Dumond acquired 2,600 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were purchased at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the transaction, the director now owns 5,054 shares of the company’s stock, valued at approximately $176,940.54. This represents a 105.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.46% of the company’s stock.

Institutional Investors Weigh In On United Bankshares

Institutional investors and hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in United Bankshares during the 4th quarter valued at about $26,000. Jones Financial Companies Lllp lifted its holdings in United Bankshares by 55.8% in the fourth quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider’s stock valued at $33,000 after buying an additional 310 shares during the period. Farther Finance Advisors LLC boosted its stake in United Bankshares by 726.5% in the first quarter. Farther Finance Advisors LLC now owns 967 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 850 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in United Bankshares by 144.2% during the 1st quarter. Meeder Asset Management Inc. now owns 1,155 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 682 shares during the period. Finally, Wilmington Savings Fund Society FSB raised its position in shares of United Bankshares by 1,921.1% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 1,364 shares during the last quarter. Institutional investors own 70.80% of the company’s stock.

United Bankshares Company Profile

United Bankshares, Inc, through its subsidiaries, 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.