United Bankshares, Inc. (NASDAQ:UBSI) Given Average Recommendation of “Hold” by Brokerages

United Bankshares, Inc. (NASDAQ:UBSI) has been given an average rating of “Hold” by the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $46.60.

UBSI has been the topic of several research reports. Raymond James Financial raised their price objective on United Bankshares from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday. Zacks Research downgraded United Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Wall Street Zen cut United Bankshares from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Hovde Group started coverage on shares of United Bankshares in a research report on Wednesday, June 24th. They issued a “market perform” rating and a $49.00 price objective on the stock.

United Bankshares Price Performance

Shares of UBSI opened at $46.38 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.10. The firm’s fifty day simple moving average is $44.04 and its 200-day simple moving average is $42.43. The firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of 12.99 and a beta of 0.71. United Bankshares has a twelve month low of $34.10 and a twelve month high of $47.25.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. The company had revenue of $316.58 million during the quarter, compared to the consensus estimate of $315.15 million. 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 earned $0.59 EPS. Equities analysts forecast that United Bankshares will post 3.64 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $1.52 annualized dividend and a dividend yield of 3.3%. United Bankshares’s payout ratio is presently 42.58%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in United Bankshares in the 3rd quarter valued at approximately $25,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of United Bankshares in the 4th quarter valued at approximately $26,000. Farther Finance Advisors LLC boosted its stake in shares of United Bankshares by 196.2% in the fourth quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock valued at $33,000 after buying an additional 567 shares in the last quarter. Root Financial Partners LLC grew its holdings in United Bankshares by 64.4% during the first quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 308 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in United Bankshares by 528.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 988 shares during the period. 70.80% of the stock is owned by hedge funds and other 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.