United Bankshares, Inc. Declares Quarterly Dividend of $0.33 (UBSI)
United Bankshares, Inc. (NASDAQ:UBSI) declared a quarterly dividend on Friday, May 26th. Stockholders of record on Friday, June 9th will be paid a dividend of 0.33 per share by the financial services provider on Monday, July 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.38%.
United Bankshares has raised its dividend by an average of 2.1% annually over the last three years. United Bankshares has a dividend payout ratio of 63.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect United Bankshares to earn $2.33 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 56.7%.
United Bankshares (NASDAQ:UBSI) traded down 0.51% during trading on Friday, reaching $38.80. 234,175 shares of the company were exchanged. United Bankshares has a 52-week low of $34.50 and a 52-week high of $49.35. The firm’s 50 day moving average is $39.88 and its 200 day moving average is $43.42. The stock has a market capitalization of $4.07 billion, a PE ratio of 19.71 and a beta of 1.04.
United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.48. United Bankshares had a return on equity of 7.34% and a net margin of 27.22%. The company had revenue of $127.77 million during the quarter, compared to analysts’ expectations of $127.70 million. During the same quarter in the prior year, the business posted $0.50 earnings per share. Analysts expect that United Bankshares will post $2.07 EPS for the current year.
Several research analysts recently weighed in on the company. Boenning Scattergood raised United Bankshares from an “underperform” rating to a “neutral” rating in a research note on Thursday, May 18th. Stephens assumed coverage on United Bankshares in a research note on Friday, March 3rd. They set an “equal weight” rating for the company. Zacks Investment Research cut United Bankshares from a “buy” rating to a “hold” rating in a research note on Thursday, April 6th. Keefe, Bruyette & Woods set a $44.00 target price on United Bankshares and gave the company a “hold” rating in a research note on Thursday, April 6th. Finally, DA Davidson assumed coverage on United Bankshares in a research note on Monday, March 6th. They set a “neutral” rating and a $45.00 target price for the company. Five investment analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average price target of $44.88.
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In other United Bankshares news, Director Michael P. Fitzgerald sold 13,100 shares of United Bankshares stock in a transaction on Friday, May 12th. The shares were sold at an average price of $38.28, for a total value of $501,468.00. Following the sale, the director now directly owns 245,273 shares in the company, valued at approximately $9,389,050.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bernard H. Clineburg sold 1,183 shares of United Bankshares stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $39.71, for a total transaction of $46,976.93. Following the completion of the sale, the director now owns 174,765 shares in the company, valued at $6,939,918.15. The disclosure for this sale can be found here. 7.50% of the stock is currently owned by corporate insiders.
United Bankshares Company Profile
United Bankshares, Inc (United) is a bank holding company. The Company operates through community banking segment. United’s Banking Subsidiaries offer a range of commercial and retail banking services and products. United, through its subsidiaries, engages in community banking and offers banking products and services permitted by law and regulation.
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