United Bankshares (NASDAQ:UBSI) Given New $41.00 Price Target at DA Davidson

United Bankshares (NASDAQ:UBSI) had its price target boosted by DA Davidson from $36.00 to $41.00 in a report published on Friday, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock. DA Davidson also issued estimates for United Bankshares’ Q3 2024 earnings at $0.68 EPS.

UBSI has been the topic of several other research reports. Keefe, Bruyette & Woods upped their price target on United Bankshares from $38.00 to $40.00 and gave the stock a market perform rating in a research note on Friday. Stephens cut their target price on United Bankshares from $36.00 to $34.00 and set an equal weight rating on the stock in a research note on Friday, April 26th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $39.20.

United Bankshares Price Performance

UBSI opened at $38.55 on Friday. United Bankshares has a 12-month low of $25.35 and a 12-month high of $39.86. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 14.71 and a beta of 1.00. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $33.27 and a two-hundred day simple moving average of $34.16.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. The company had revenue of $255.94 million during the quarter, compared to analysts’ expectations of $255.54 million. United Bankshares had a net margin of 22.44% and a return on equity of 7.72%. United Bankshares’s revenue was down 2.6% on a year-over-year basis. During the same period last year, the company posted $0.68 EPS. Research analysts predict that United Bankshares will post 2.64 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.48 dividend on an annualized basis and a yield of 3.84%. United Bankshares’s payout ratio is currently 56.49%.

Institutional Trading of United Bankshares

Several institutional investors have recently added to or reduced their stakes in UBSI. Vanguard Group Inc. raised its stake in shares of United Bankshares by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 14,202,951 shares of the financial services provider’s stock worth $533,321,000 after purchasing an additional 71,359 shares during the last quarter. Dimensional Fund Advisors LP raised its position in United Bankshares by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,291,001 shares of the financial services provider’s stock worth $273,782,000 after buying an additional 172,997 shares during the last quarter. Victory Capital Management Inc. lifted its stake in United Bankshares by 2,745.7% during the 4th quarter. Victory Capital Management Inc. now owns 2,835,545 shares of the financial services provider’s stock valued at $106,475,000 after acquiring an additional 2,735,901 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of United Bankshares by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,486,804 shares of the financial services provider’s stock valued at $55,829,000 after acquiring an additional 60,465 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its stake in shares of United Bankshares by 1.8% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,334,931 shares of the financial services provider’s stock worth $43,305,000 after acquiring an additional 23,640 shares during the period. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

About United Bankshares

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.