United Bankshares, Inc. (NASDAQ:UBSI) Declares Quarterly Dividend of $0.37

United Bankshares, Inc. (NASDAQ:UBSI) declared a quarterly dividend on Friday, November 8th,Zacks Dividends reports. Shareholders of record on Friday, December 13th will be given a dividend of 0.37 per share by the financial services provider on Thursday, January 2nd. This represents a $1.48 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Friday, December 13th.

United Bankshares has raised its dividend by an average of 1.2% per year over the last three years and has raised its dividend every year for the last 25 years. United Bankshares has a payout ratio of 57.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect United Bankshares to earn $2.71 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 54.6%.

United Bankshares Stock Up 1.0 %

Shares of UBSI stock traded up $0.43 during trading hours on Wednesday, reaching $41.73. 25,697 shares of the company’s stock were exchanged, compared to its average volume of 519,648. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 15.64 and a beta of 1.01. United Bankshares has a fifty-two week low of $30.68 and a fifty-two week high of $44.43. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11. The stock’s 50 day moving average is $39.62 and its 200-day moving average is $36.74.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. The company had revenue of $414.67 million during the quarter, compared to analysts’ expectations of $260.30 million. United Bankshares had a net margin of 22.05% and a return on equity of 7.58%. During the same quarter in the previous year, the company earned $0.71 earnings per share. Analysts predict that United Bankshares will post 2.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $40.25.

Insiders Place Their Bets

In related news, Director Peter A. Converse sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $40.00, for a total transaction of $200,000.00. Following the transaction, the director now owns 434,769 shares of the company’s stock, valued at approximately $17,390,760. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director J Paul Mcnamara sold 2,500 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.86, for a total value of $107,150.00. Following the completion of the transaction, the director now directly owns 63,409 shares in the company, valued at $2,717,709.74. This trade represents a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.66% of the stock is currently owned by company insiders.

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.