Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for United Bankshares (NASDAQ:UBSI) Stock

United Bankshares (NASDAQ:UBSI) had its price objective hoisted by Keefe, Bruyette & Woods from $40.00 to $43.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 3.71% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. Zacks Research cut shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a report on Monday, December 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of United Bankshares in a research report on Monday, December 29th. Stephens boosted their target price on United Bankshares from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $47.00 price target on shares of United Bankshares in a report on Monday. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $44.67.

United Bankshares Trading Down 3.0%

NASDAQ UBSI opened at $41.46 on Monday. The firm has a market capitalization of $5.82 billion, a PE ratio of 12.68 and a beta of 0.78. The stock’s 50 day moving average is $39.02 and its 200 day moving average is $37.63. United Bankshares has a twelve month low of $30.50 and a twelve month high of $43.78. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.10.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. United Bankshares had a net margin of 25.51% and a return on equity of 8.60%. The business had revenue of $430.85 million for the quarter, compared to analysts’ expectations of $315.50 million. During the same quarter in the prior year, the company earned $0.69 earnings per share. Research analysts forecast that United Bankshares will post 2.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On United Bankshares

Several large investors have recently added to or reduced their stakes in UBSI. Norges Bank bought a new position in United Bankshares during the second quarter valued at $60,618,000. First Trust Advisors LP raised its position in United Bankshares by 367.5% in the 2nd quarter. First Trust Advisors LP now owns 1,935,979 shares of the financial services provider’s stock worth $70,528,000 after purchasing an additional 1,521,864 shares during the period. AQR Capital Management LLC lifted its stake in shares of United Bankshares by 65.5% during the 3rd quarter. AQR Capital Management LLC now owns 930,252 shares of the financial services provider’s stock worth $34,615,000 after acquiring an additional 368,141 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in United Bankshares by 64.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 782,292 shares of the financial services provider’s stock valued at $29,109,000 after acquiring an additional 307,159 shares during the period. Finally, Verition Fund Management LLC increased its stake in United Bankshares by 89.5% in the third quarter. Verition Fund Management LLC now owns 520,964 shares of the financial services provider’s stock worth $19,385,000 after purchasing an additional 246,006 shares during the period. 70.80% of the stock is owned by institutional investors.

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.