United Bankshares (NASDAQ:UBSI) Upgraded at Wall Street Zen
by Jessica Moore · The Cerbat GemWall Street Zen upgraded shares of United Bankshares (NASDAQ:UBSI – Free Report) from a sell rating to a hold rating in a research note released on Sunday,Wall Street Zen reports.
Other research analysts have also recently issued research reports about the company. Hovde Group raised their target price on United Bankshares from $49.00 to $50.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Keefe, Bruyette & Woods upped their price target on United Bankshares from $46.00 to $48.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Piper Sandler increased their price objective on United Bankshares from $51.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, October 26th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of United Bankshares in a research report on Friday, October 2nd. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $49.20.
View Our Latest Stock Analysis on United Bankshares
United Bankshares Stock Performance
Shares of UBSI opened at $48.47 on Friday. The company has a 50-day simple moving average of $47.10 and a two-hundred day simple moving average of $44.86. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $6.60 billion, a PE ratio of 13.14 and a beta of 0.73. United Bankshares has a one year low of $34.68 and a one year high of $49.62.
United Bankshares (NASDAQ:UBSI – Get Free Report) last posted its earnings results on Thursday, October 22nd. The financial services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. United Bankshares had a return on equity of 9.37% and a net margin of 28.03%. The firm had revenue of $325.10 million for the quarter, compared to the consensus estimate of $327.23 million. During the same quarter in the prior year, the business earned $0.92 EPS. On average, analysts anticipate that United Bankshares will post 3.74 EPS for the current fiscal year.
United Bankshares Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 11th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, September 11th. United Bankshares’s dividend payout ratio is 41.19%.
Insiders Place Their Bets
In other United Bankshares news, Director Mark Nesselroad sold 3,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $46.42, for a total transaction of $148,544.00. Following the completion of the transaction, the director owned 32,224 shares of the company’s stock, valued at approximately $1,495,838.08. This trade represents a 9.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.16% of the company’s stock.
Institutional Trading of United Bankshares
Hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC grew its holdings in shares of United Bankshares by 1.1% during the third quarter. Brighton Jones LLC now owns 21,345 shares of the financial services provider’s stock valued at $981,000 after buying an additional 239 shares during the last quarter. StoneX Group Inc. bought a new stake in shares of United Bankshares in the third quarter worth approximately $890,000. Verity Asset Management Inc. raised its holdings in shares of United Bankshares by 2.5% during the third quarter. Verity Asset Management Inc. now owns 37,260 shares of the financial services provider’s stock valued at $1,712,000 after purchasing an additional 899 shares during the last quarter. TSG Advice Partners LLC bought a new position in United Bankshares during the third quarter valued at approximately $321,000. Finally, Vise Technologies Inc. lifted its position in United Bankshares by 35.6% during the third quarter. Vise Technologies Inc. now owns 13,741 shares of the financial services provider’s stock valued at $631,000 after purchasing an additional 3,606 shares during the period. 70.80% of the stock is owned by institutional investors.
United Bankshares Company Profile
United Bankshares, Inc is a financial holding company that operates through its subsidiary, United Bank. The company provides a broad range of banking and financial services to individuals, businesses, nonprofit organizations and government entities.
United Bank’s offerings include checking and savings accounts, certificates of deposit, residential and commercial real estate lending, consumer loans, commercial and industrial financing, treasury management and online and mobile banking.
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