Zacks: Brokerages Anticipate United Bankshares, Inc. (UBSI) Will Announce Earnings of $0.52 Per Share
Wall Street brokerages expect United Bankshares, Inc. (NASDAQ:UBSI) to report $0.52 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for United Bankshares’ earnings. The lowest EPS estimate is $0.48 and the highest is $0.56. United Bankshares posted earnings of $0.51 per share in the same quarter last year, which would indicate a positive year over year growth rate of 2%. The business is scheduled to announce its next quarterly earnings results on Tuesday, January 30th.
According to Zacks, analysts expect that United Bankshares will report full-year earnings of $1.92 per share for the current year, with EPS estimates ranging from $1.87 to $1.95. For the next year, analysts anticipate that the business will report earnings of $2.17 per share, with EPS estimates ranging from $2.10 to $2.26. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover United Bankshares.
United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.01). United Bankshares had a return on equity of 6.25% and a net margin of 24.94%. The business had revenue of $188.51 million for the quarter, compared to analysts’ expectations of $193.87 million. During the same quarter in the previous year, the firm posted $0.54 EPS. United Bankshares’s revenue was up 44.9% on a year-over-year basis.
In other news, Director Gary G. White bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were purchased at an average price of $33.33 per share, for a total transaction of $33,330.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.23% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Viking Fund Management LLC boosted its position in United Bankshares by 7.7% in the 3rd quarter. Viking Fund Management LLC now owns 84,000 shares of the financial services provider’s stock worth $3,121,000 after purchasing an additional 6,000 shares in the last quarter. Swiss National Bank boosted its position in United Bankshares by 22.3% in the 2nd quarter. Swiss National Bank now owns 164,582 shares of the financial services provider’s stock worth $6,452,000 after purchasing an additional 30,001 shares in the last quarter. Bank of New York Mellon Corp boosted its position in United Bankshares by 23.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,358,100 shares of the financial services provider’s stock worth $53,238,000 after purchasing an additional 254,351 shares in the last quarter. Wesbanco Bank Inc. boosted its position in United Bankshares by 2.2% in the 3rd quarter. Wesbanco Bank Inc. now owns 178,728 shares of the financial services provider’s stock worth $6,640,000 after purchasing an additional 3,850 shares in the last quarter. Finally, NTV Asset Management LLC boosted its position in United Bankshares by 3.6% in the 2nd quarter. NTV Asset Management LLC now owns 69,506 shares of the financial services provider’s stock worth $2,725,000 after purchasing an additional 2,389 shares in the last quarter. Institutional investors and hedge funds own 65.56% of the company’s stock.
Shares of United Bankshares (NASDAQ UBSI) opened at $36.30 on Wednesday. United Bankshares has a 52 week low of $31.70 and a 52 week high of $49.35. The firm has a market capitalization of $3,900.47, a PE ratio of 19.55, a PEG ratio of 1.94 and a beta of 1.05. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.46.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be given a $0.34 dividend. The ex-dividend date is Thursday, December 7th. This represents a $1.36 dividend on an annualized basis and a yield of 3.75%. This is a positive change from United Bankshares’s previous quarterly dividend of $0.33. United Bankshares’s dividend payout ratio is currently 69.47%.
United Bankshares announced that its Board of Directors has approved a share buyback plan on Monday, August 28th that permits the company to repurchase 2,000,000 outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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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