United Bankshares (NASDAQ:UBSI) Price Target Cut to $38.00

United Bankshares (NASDAQ:UBSI) had its target price cut by equities researchers at Keefe, Bruyette & Woods from $40.00 to $38.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 11.90% from the company’s current price.

Several other research analysts have also weighed in on UBSI. Stephens dropped their target price on United Bankshares from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Raymond James raised their price objective on United Bankshares from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.00.

United Bankshares Stock Up 0.4 %

Shares of United Bankshares stock opened at $33.96 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.36. United Bankshares has a 12-month low of $25.35 and a 12-month high of $38.74. The firm has a market capitalization of $4.59 billion, a PE ratio of 12.96 and a beta of 1.01. The stock’s fifty day moving average is $34.08 and its 200-day moving average is $34.18.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.01). The business had revenue of $401.39 million for the quarter, compared to analyst estimates of $256.80 million. United Bankshares had a net margin of 22.51% and a return on equity of 7.72%. During the same period in the previous year, the firm posted $0.74 earnings per share. Equities analysts anticipate that United Bankshares will post 2.63 earnings per share for the current year.

Hedge Funds Weigh In On United Bankshares

A number of institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. grew its position in United Bankshares by 58.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,471 shares of the financial services provider’s stock worth $3,435,000 after purchasing an additional 33,812 shares during the last quarter. Verity Asset Management Inc. boosted its stake in United Bankshares by 18.2% during the third quarter. Verity Asset Management Inc. now owns 22,816 shares of the financial services provider’s stock worth $629,000 after buying an additional 3,506 shares in the last quarter. Victory Capital Management Inc. increased its holdings in United Bankshares by 2,745.7% in 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 buying an additional 2,735,901 shares during the period. New York State Common Retirement Fund raised its position in United Bankshares by 13.3% in the fourth quarter. New York State Common Retirement Fund now owns 664,599 shares of the financial services provider’s stock worth $24,956,000 after purchasing an additional 78,022 shares in the last quarter. Finally, Anchor Capital Advisors LLC grew its position in United Bankshares by 99.0% in the fourth quarter. Anchor Capital Advisors LLC now owns 50,560 shares of the financial services provider’s stock valued at $1,899,000 after acquiring an additional 25,155 shares during the period. 70.80% of the stock is currently owned by 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.