United Bankshares (NASDAQ:UBSI) Releases Earnings Results, Beats Expectations By $0.03 EPS

United Bankshares (NASDAQ:UBSI) announced its quarterly earnings data on Thursday. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.03, Briefing.com reports. United Bankshares had a return on equity of 7.72% and a net margin of 22.44%. The business had revenue of $414.67 million for the quarter, compared to analysts’ expectations of $260.30 million. During the same period last year, the firm earned $0.71 earnings per share.

United Bankshares Stock Down 0.3 %

Shares of NASDAQ:UBSI opened at $37.09 on Friday. The firm has a 50 day simple moving average of $37.20 and a 200-day simple moving average of $35.04. United Bankshares has a twelve month low of $27.21 and a twelve month high of $39.93. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $5.01 billion, a PE ratio of 14.16 and a beta of 0.99.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.48 dividend on an annualized basis and a yield of 3.99%. United Bankshares’s payout ratio is currently 56.49%.

Analyst Ratings Changes

UBSI has been the subject of several recent research reports. StockNews.com cut United Bankshares from a “hold” rating to a “sell” rating in a research note on Friday. DA Davidson lifted their price target on shares of United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Stephens increased their price objective on shares of United Bankshares from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $40.25.

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.