United Bankshares (NASDAQ:UBSI) Upgraded at StockNews.com

StockNews.com upgraded shares of United Bankshares (NASDAQ:UBSI) from a sell rating to a hold rating in a research report report published on Wednesday.

UBSI has been the subject of a number of other research reports. Stephens lifted 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 price objective on United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods upped their target price 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 equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, United Bankshares currently has an average rating of “Hold” and a consensus price target of $40.25.

United Bankshares Trading Down 0.2 %

NASDAQ UBSI opened at $42.22 on Wednesday. United Bankshares has a 12 month low of $30.68 and a 12 month high of $43.77. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $5.71 billion, a PE ratio of 15.99 and a beta of 0.98. The business’s 50-day moving average price is $37.92 and its two-hundred day moving average price is $35.74.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.67 by $0.03. United Bankshares had a return on equity of 7.58% and a net margin of 22.05%. The business had revenue of $414.67 million for the quarter, compared to analysts’ expectations of $260.30 million. During the same period in the prior year, the business posted $0.71 earnings per share. On average, analysts expect that United Bankshares will post 2.73 EPS for the current year.

United Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Friday, December 13th. United Bankshares’s payout ratio is 56.06%.

Insider Activity at United Bankshares

In related news, Director Peter A. Converse sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $40.00, for a total value of $200,000.00. Following the sale, the director now owns 434,769 shares in the company, valued at $17,390,760. This represents a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.66% of the stock is currently owned by insiders.

Institutional Trading of United Bankshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its holdings in United Bankshares by 218.2% during the second quarter. SG Americas Securities LLC now owns 29,676 shares of the financial services provider’s stock worth $963,000 after buying an additional 20,350 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of United Bankshares by 37.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 51,455 shares of the financial services provider’s stock worth $1,811,000 after acquiring an additional 14,080 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in shares of United Bankshares in the first quarter valued at about $901,000. Earnest Partners LLC lifted its position in shares of United Bankshares by 1.8% during the second quarter. Earnest Partners LLC now owns 4,253,797 shares of the financial services provider’s stock valued at $137,993,000 after purchasing an additional 74,638 shares in the last quarter. Finally, Atria Investments Inc bought a new position in shares of United Bankshares during the first quarter valued at about $1,072,000. 70.80% of the stock is owned by institutional investors.

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.