United Bankshares, Inc. (UBSI) Releases Quarterly Earnings Results, Misses Estimates By $0.13 EPS
United Bankshares, Inc. (NASDAQ:UBSI) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.13, Briefing.com reports. United Bankshares had a net margin of 27.17% and a return on equity of 7.09%. During the same period last year, the firm posted $0.44 earnings per share.
United Bankshares (NASDAQ:UBSI) traded down 2.44% during trading on Thursday, reaching $36.05. The company had a trading volume of 813,236 shares. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 18.31 and a beta of 1.07. United Bankshares has a 1-year low of $34.25 and a 1-year high of $49.35. The firm has a 50-day moving average of $38.72 and a 200-day moving average of $41.24.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Friday, June 9th were issued a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $1.32 dividend on an annualized basis and a yield of 3.66%. United Bankshares’s payout ratio is 67.01%.
In related news, Director Bernard H. Clineburg sold 1,183 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $39.71, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael P. Fitzgerald sold 13,038 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $40.04, for a total transaction of $522,041.52. Following the completion of the sale, the director now owns 12,738 shares of the company’s stock, valued at approximately $510,029.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,321 shares of company stock valued at $1,070,486. 7.50% of the stock is owned by insiders.
Several equities analysts have recently issued reports on the company. BidaskClub cut United Bankshares from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. Zacks Investment Research cut United Bankshares from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Boenning Scattergood raised United Bankshares from an “underperform” rating to a “neutral” rating in a report on Thursday, May 18th. Finally, Keefe, Bruyette & Woods set a $44.00 price objective on United Bankshares and gave the company a “hold” rating in a report on Thursday, April 6th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $42.63.
About United Bankshares
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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