United Bankshares (NASDAQ:UBSI) Reaches New 52-Week High – Time to Buy?
by Jessica Moore · The Cerbat GemShares of United Bankshares, Inc. (NASDAQ:UBSI – Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $41.05 and last traded at $41.0190, with a volume of 30388 shares traded. The stock had previously closed at $40.53.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the company. Piper Sandler set a $42.50 target price on United Bankshares and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Zacks Research lowered shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 22nd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of United Bankshares in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, United Bankshares has a consensus rating of “Hold” and an average price target of $41.83.
Read Our Latest Analysis on United Bankshares
United Bankshares Trading Down 0.0%
The business’s 50 day simple moving average is $38.50 and its 200 day simple moving average is $37.51. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 13.51 and a beta of 0.78. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10.
United Bankshares (NASDAQ:UBSI – Get Free Report) last issued its earnings results on Thursday, October 23rd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.10. The business had revenue of $280.90 million during the quarter, compared to the consensus estimate of $307.78 million. United Bankshares had a net margin of 24.37% and a return on equity of 8.15%. During the same period last year, the business posted $0.70 EPS. On average, research analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.
United Bankshares Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, December 12th. This is a boost from United Bankshares’s previous quarterly dividend of $0.37. United Bankshares’s payout ratio is presently 49.84%.
Hedge Funds Weigh In On United Bankshares
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UBSI. Ameritas Advisory Services LLC bought a new position in shares of United Bankshares in the second quarter valued at about $25,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of United Bankshares during the 3rd quarter worth about $25,000. Hantz Financial Services Inc. boosted its holdings in shares of United Bankshares by 261.8% during the second quarter. Hantz Financial Services Inc. now owns 749 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 542 shares during the period. Bogart Wealth LLC increased its stake in shares of United Bankshares by 655.4% during the third quarter. Bogart Wealth LLC now owns 763 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 662 shares during the period. Finally, Rothschild Investment LLC boosted its stake in United Bankshares by 174.8% in the 3rd quarter. Rothschild Investment LLC now owns 838 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 533 shares during the period. 70.80% of the stock is owned by institutional investors.
United Bankshares Company Profile
United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.
United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.
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