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 research note issued to investors on Wednesday.

Several other research analysts also recently issued reports on UBSI. Stephens upped their target price on shares of United Bankshares from $36.00 to $39.00 and gave the stock an equal weight rating in a research note on Friday, July 26th. DA Davidson lifted their target price on United Bankshares from $36.00 to $41.00 and gave the stock a neutral rating in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods increased their price objective on United Bankshares from $38.00 to $40.00 and gave the company a market perform rating in a research report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $40.25.

United Bankshares Stock Performance

Shares of United Bankshares stock opened at $37.84 on Wednesday. The business has a fifty day simple moving average of $37.20 and a two-hundred day simple moving average of $34.63. The firm has a market capitalization of $5.12 billion, a P/E ratio of 14.44 and a beta of 0.99. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.31. United Bankshares has a 12 month low of $25.35 and a 12 month high of $39.93.

United Bankshares (NASDAQ:UBSI) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.64 by $0.07. The business had revenue of $255.94 million for the quarter, compared to the consensus estimate of $255.54 million. United Bankshares had a return on equity of 7.72% and a net margin of 22.44%. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 earnings per share. On average, equities analysts forecast that United Bankshares will post 2.7 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend is Friday, September 13th. United Bankshares’s dividend payout ratio is presently 56.49%.

Institutional Trading of United Bankshares

Several hedge funds have recently bought and sold shares of UBSI. Systematic Financial Management LP lifted its position in shares of United Bankshares by 73.8% during the 2nd quarter. Systematic Financial Management LP now owns 279,039 shares of the financial services provider’s stock valued at $9,052,000 after buying an additional 118,501 shares in the last quarter. Algert Global LLC bought a new position in shares of United Bankshares in the second quarter worth approximately $441,000. Earnest Partners LLC increased its stake in shares of United Bankshares by 1.8% in the second quarter. Earnest Partners LLC now owns 4,253,797 shares of the financial services provider’s stock worth $137,993,000 after purchasing an additional 74,638 shares in the last quarter. Commonwealth Financial Services LLC increased its stake in shares of United Bankshares by 8.6% in the second quarter. Commonwealth Financial Services LLC now owns 24,249 shares of the financial services provider’s stock worth $770,000 after purchasing an additional 1,921 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in shares of United Bankshares by 110.4% during the 2nd quarter. ProShare Advisors LLC now owns 2,206,434 shares of the financial services provider’s stock valued at $71,577,000 after purchasing an additional 1,157,579 shares during the period. 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.