Wall Street Zen Upgrades United Bankshares (NASDAQ:UBSI) to “Hold”

United Bankshares (NASDAQ:UBSI) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday, Wall Street Zen reports.

Other research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods lifted their price objective on United Bankshares from $46.00 to $48.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Weiss Ratings restated a “buy (b)” rating on shares of United Bankshares in a report on Friday, October 2nd. Piper Sandler raised their price target on United Bankshares from $51.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, October 26th. Finally, Hovde Group lifted their price target on United Bankshares from $49.00 to $50.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $49.20.

United Bankshares Price Performance

UBSI stock opened at $49.31 on Friday. The firm has a market cap of $6.72 billion, a P/E ratio of 13.36 and a beta of 0.72. The firm’s fifty day moving average is $47.08 and its 200 day moving average is $44.82. United Bankshares has a 52 week low of $34.68 and a 52 week high of $49.62. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.97.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.01. United Bankshares had a net margin of 28.03% and a return on equity of 9.37%. The business had revenue of $325.10 million during the quarter, compared to the consensus estimate of $327.23 million. During the same period in the previous year, the firm posted $0.92 earnings per share. Research analysts predict that United Bankshares will post 3.74 earnings per share for the current year.

Insider Activity

In other news, Director Mark Nesselroad sold 3,200 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $46.42, for a total transaction of $148,544.00. Following the completion of the transaction, the director directly owned 32,224 shares of the company’s stock, valued at approximately $1,495,838.08. This represents a 9.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.16% of the company’s stock.

Institutional Trading of United Bankshares

Several large investors have recently modified their holdings of UBSI. Root Financial Partners LLC lifted its position in United Bankshares by 64.4% in the 1st quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 308 shares in the last quarter. Allworth Financial LP purchased a new stake in United Bankshares during the 2nd quarter valued at $43,000. Nykredit A S bought a new stake in shares of United Bankshares in the 2nd quarter worth $52,000. Farther Finance Advisors LLC increased its holdings in shares of United Bankshares by 49.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,355 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 448 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of United Bankshares in the 2nd quarter worth $68,000. 70.80% of the stock is owned by institutional investors.

About United Bankshares

United Bankshares, Inc is a financial holding company that operates through its subsidiary, United Bank. The company provides a broad range of banking and financial services to individuals, businesses, nonprofit organizations and government entities.

United Bank’s offerings include checking and savings accounts, certificates of deposit, residential and commercial real estate lending, consumer loans, commercial and industrial financing, treasury management and online and mobile banking.