DA Davidson Comments on United Bankshares, Inc.’s Q2 2024 Earnings (NASDAQ:UBSI)

United Bankshares, Inc. (NASDAQ:UBSI) – Analysts at DA Davidson issued their Q2 2024 earnings estimates for shares of United Bankshares in a research report issued on Friday, May 3rd. DA Davidson analyst M. Navas anticipates that the financial services provider will post earnings per share of $0.64 for the quarter. The consensus estimate for United Bankshares’ current full-year earnings is $2.63 per share.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.01). The company had revenue of $401.39 million for the quarter, compared to analysts’ expectations 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 business earned $0.74 earnings per share.

UBSI has been the topic of several other research reports. Stephens decreased 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. Keefe, Bruyette & Woods reduced their price objective on United Bankshares from $40.00 to $38.00 and set a “market perform” rating for the company in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, United Bankshares currently has an average rating of “Hold” and a consensus price target of $37.00.

United Bankshares Trading Down 0.3 %

Shares of United Bankshares stock opened at $33.92 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.36. United Bankshares has a twelve month low of $25.35 and a twelve month high of $38.74. The firm has a market capitalization of $4.58 billion, a PE ratio of 12.95 and a beta of 1.01. The firm’s 50-day moving average price is $34.06 and its 200 day moving average price is $34.34.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were given a dividend of $0.37 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.48 dividend on an annualized basis and a yield of 4.36%. United Bankshares’s payout ratio is 56.49%.

Hedge Funds Weigh In On United Bankshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its position in United Bankshares by 58.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,471 shares of the financial services provider’s stock valued at $3,435,000 after purchasing an additional 33,812 shares during the period. Verity Asset Management Inc. lifted its position in United Bankshares by 18.2% in the third quarter. Verity Asset Management Inc. now owns 22,816 shares of the financial services provider’s stock valued at $629,000 after buying an additional 3,506 shares during the last quarter. Victory Capital Management Inc. boosted its stake in United Bankshares by 2,745.7% during the fourth quarter. Victory Capital Management Inc. now owns 2,835,545 shares of the financial services provider’s stock worth $106,475,000 after buying an additional 2,735,901 shares during the period. Anchor Capital Advisors LLC increased its position in shares of United Bankshares by 99.0% during 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 last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of United Bankshares by 13.3% in the 4th quarter. New York State Common Retirement Fund now owns 664,599 shares of the financial services provider’s stock valued at $24,956,000 after acquiring an additional 78,022 shares during the period. Institutional investors and hedge funds 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.