United Bankshares (NASDAQ:UBSI) Issues Earnings Results, Beats Estimates By $0.06 EPS

United Bankshares (NASDAQ:UBSI) announced its quarterly earnings data on Thursday. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.06, Briefing.com reports. United Bankshares had a return on equity of 9.26% and a net margin of 27.45%.During the same period in the previous year, the business posted $0.85 earnings per share.

United Bankshares Trading Down 0.8%

Shares of UBSI traded down $0.38 during mid-day trading on Thursday, reaching $46.53. 483,589 shares of the company were exchanged, compared to its average volume of 952,634. The business has a 50 day simple moving average of $44.88 and a two-hundred day simple moving average of $43.11. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $6.41 billion, a PE ratio of 13.04 and a beta of 0.71. United Bankshares has a 52 week low of $34.10 and a 52 week high of $48.22.

United Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, June 12th. United Bankshares’s dividend payout ratio (DPR) is 42.58%.

Institutional Trading of United Bankshares

Institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in shares of United Bankshares by 74.7% during the 4th quarter. AQR Capital Management LLC now owns 1,625,205 shares of the financial services provider’s stock valued at $62,408,000 after purchasing an additional 694,953 shares in the last quarter. Morgan Stanley boosted its holdings in United Bankshares by 10.9% in the fourth quarter. Morgan Stanley now owns 1,403,141 shares of the financial services provider’s stock worth $53,881,000 after acquiring an additional 137,396 shares in the last quarter. Bank of America Corp DE boosted its holdings in United Bankshares by 11.4% in the third quarter. Bank of America Corp DE now owns 1,367,319 shares of the financial services provider’s stock worth $50,878,000 after acquiring an additional 139,646 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in United Bankshares by 75.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,177,051 shares of the financial services provider’s stock valued at $45,199,000 after acquiring an additional 504,986 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of United Bankshares by 11.8% during the second quarter. Invesco Ltd. now owns 1,096,626 shares of the financial services provider’s stock valued at $39,950,000 after acquiring an additional 116,073 shares in the last quarter. Institutional investors own 70.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on UBSI shares. Hovde Group initiated coverage on shares of United Bankshares in a report on Wednesday, June 24th. They set a “market perform” rating and a $49.00 target price on the stock. Weiss Ratings restated a “buy (b)” rating on shares of United Bankshares in a research note on Monday, July 6th. Zacks Research downgraded United Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Wall Street Zen cut United Bankshares from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Finally, Raymond James Financial lifted their price objective on shares of United Bankshares from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $46.60.

About United Bankshares

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.