Wall Street brokerages expect United Bankshares, Inc. (NASDAQ:UBSI) to post $182.94 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for United Bankshares’ earnings, with the lowest sales estimate coming in at $179.25 million and the highest estimate coming in at $186.26 million. United Bankshares reported sales of $129.91 million in the same quarter last year, which indicates a positive year-over-year growth rate of 40.8%. The business is scheduled to issue its next earnings report on Tuesday, January 30th.
According to Zacks, analysts expect that United Bankshares will report full year sales of $182.94 million for the current year, with estimates ranging from $676.33 million to $685.45 million. For the next year, analysts forecast that the company will report sales of $749.18 million per share, with estimates ranging from $739.13 million to $764.51 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for United Bankshares.
United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). The company had revenue of $188.51 million for the quarter, compared to analyst estimates of $193.87 million. United Bankshares had a return on equity of 6.25% and a net margin of 24.94%. The firm’s quarterly revenue was up 44.9% on a year-over-year basis. During the same quarter last year, the company posted $0.54 earnings per share.
Shares of United Bankshares (NASDAQ UBSI) traded down $0.30 during trading hours on Friday, hitting $35.70. 542,400 shares of the stock traded hands, compared to its average volume of 764,832. The firm has a market capitalization of $3,779.73, a P/E ratio of 18.95, a PEG ratio of 1.88 and a beta of 1.05. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.46. United Bankshares has a 52 week low of $31.70 and a 52 week high of $49.35.
United Bankshares announced that its Board of Directors has authorized a stock repurchase program on Monday, August 28th that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be paid a $0.34 dividend. This is a boost from United Bankshares’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.36 annualized dividend and a dividend yield of 3.81%. United Bankshares’s payout ratio is currently 69.47%.
In other United Bankshares news, Director Gary G. White acquired 1,000 shares of United Bankshares stock in a transaction that occurred on Monday, September 11th. The shares were bought at an average price of $33.33 per share, with a total value of $33,330.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.23% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of UBSI. Aperio Group LLC boosted its position in United Bankshares by 203.0% during the second quarter. Aperio Group LLC now owns 34,769 shares of the financial services provider’s stock valued at $1,363,000 after acquiring an additional 23,293 shares during the last quarter. US Bancorp DE boosted its position in United Bankshares by 13.2% during the second quarter. US Bancorp DE now owns 23,600 shares of the financial services provider’s stock valued at $925,000 after acquiring an additional 2,753 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in United Bankshares during the second quarter valued at $2,502,000. Strs Ohio boosted its position in United Bankshares by 111.4% during the second quarter. Strs Ohio now owns 14,800 shares of the financial services provider’s stock valued at $580,000 after acquiring an additional 7,800 shares during the last quarter. Finally, World Asset Management Inc boosted its position in United Bankshares by 29.6% during the second quarter. World Asset Management Inc now owns 6,557 shares of the financial services provider’s stock valued at $257,000 after acquiring an additional 1,499 shares during the last quarter. 65.56% of the stock is currently owned by institutional investors and hedge funds.
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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