United Bankshares (NASDAQ:UBSI) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of United Bankshares (NASDAQ:UBSI) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

Several other equities analysts have also recently weighed in on the company. Stephens restated an “equal weight” rating and set a $43.00 price target on shares of United Bankshares in a report on Monday, January 27th. Piper Sandler restated a “neutral” rating and set a $38.50 price target on shares of United Bankshares in a report on Wednesday, March 12th. Finally, Keefe, Bruyette & Woods cut their price target on United Bankshares from $42.00 to $40.00 and set a “market perform” rating for the company in a report on Monday, April 28th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $40.63.

United Bankshares Price Performance

Shares of United Bankshares stock opened at $37.24 on Tuesday. The firm has a market cap of $5.34 billion, a PE ratio of 13.59 and a beta of 0.74. The stock has a 50 day moving average of $34.13 and a 200 day moving average of $37.28. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. United Bankshares has a 12 month low of $30.51 and a 12 month high of $44.43.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.07). The firm had revenue of $289.61 million for the quarter, compared to analysts’ expectations of $279.02 million. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. On average, research analysts expect that United Bankshares will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Friday, March 14th. United Bankshares’s payout ratio is 55.02%.

Insider Activity

In related news, Director Sara Dumond acquired 2,600 shares of the stock in a transaction dated Monday, March 24th. The stock was acquired at an average cost of $35.01 per share, with a total value of $91,026.00. Following the purchase, the director now directly owns 5,054 shares of the company’s stock, valued at approximately $176,940.54. This trade represents a 105.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.46% of the company’s stock.

Institutional Investors Weigh In On United Bankshares

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of United Bankshares by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 14,310,562 shares of the financial services provider’s stock valued at $537,362,000 after purchasing an additional 115,681 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of United Bankshares by 0.7% in the 4th quarter. Earnest Partners LLC now owns 4,199,136 shares of the financial services provider’s stock valued at $157,678,000 after purchasing an additional 29,898 shares during the last quarter. Northern Trust Corp lifted its stake in shares of United Bankshares by 13.7% during the 4th quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider’s stock worth $66,614,000 after acquiring an additional 213,441 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of United Bankshares by 1.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,733,488 shares of the financial services provider’s stock worth $60,100,000 after acquiring an additional 22,900 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in shares of United Bankshares by 3.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,612,170 shares of the financial services provider’s stock worth $60,538,000 after acquiring an additional 54,089 shares during the last quarter. 70.80% of the stock is 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.