Zacks: Brokerages Anticipate United Bankshares, Inc. (UBSI) Will Announce Quarterly Sales of $180.57 Million

Analysts expect United Bankshares, Inc. (NASDAQ:UBSI) to report sales of $180.57 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for United Bankshares’ earnings. The lowest sales estimate is $174.20 million and the highest is $184.02 million. United Bankshares reported sales of $127.77 million during the same quarter last year, which suggests a positive year-over-year growth rate of 41.3%. The business is expected to announce its next earnings results on Thursday, April 26th.

According to Zacks, analysts expect that United Bankshares will report full year sales of $180.57 million for the current year, with estimates ranging from $743.30 million to $753.84 million. For the next fiscal year, analysts forecast that the firm will post sales of $775.64 million per share, with estimates ranging from $764.90 million to $784.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow United Bankshares.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Tuesday, January 30th. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. United Bankshares had a net margin of 19.93% and a return on equity of 6.28%. The firm had revenue of $187.62 million for the quarter, compared to the consensus estimate of $182.94 million. During the same period in the prior year, the firm earned $0.51 EPS.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. BidaskClub raised shares of United Bankshares from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Sandler O’Neill set a $38.00 target price on shares of United Bankshares and gave the stock a “hold” rating in a research note on Thursday, January 4th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of United Bankshares in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $42.25.

In other United Bankshares news, Director Michael P. Fitzgerald sold 27,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $37.05, for a total value of $1,000,350.00. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 6.23% of the company’s stock.

Several large investors have recently made changes to their positions in UBSI. FMR LLC increased its position in shares of United Bankshares by 87.7% in the 2nd quarter. FMR LLC now owns 8,963 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 4,189 shares during the last quarter. Voya Investment Management LLC boosted its holdings in shares of United Bankshares by 30.4% in the 2nd quarter. Voya Investment Management LLC now owns 42,918 shares of the financial services provider’s stock valued at $1,682,000 after buying an additional 10,005 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of United Bankshares by 30.5% in the 2nd quarter. HighTower Advisors LLC now owns 7,895 shares of the financial services provider’s stock valued at $310,000 after buying an additional 1,845 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of United Bankshares by 8.0% in the 2nd quarter. Royal Bank of Canada now owns 239,133 shares of the financial services provider’s stock valued at $9,373,000 after buying an additional 17,650 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of United Bankshares in the 2nd quarter valued at $248,000. 65.81% of the stock is currently owned by institutional investors.

Shares of United Bankshares (NASDAQ UBSI) traded up $0.30 on Wednesday, reaching $35.45. 826,100 shares of the company traded hands, compared to its average volume of 722,810. United Bankshares has a 1 year low of $31.70 and a 1 year high of $46.35. The stock has a market cap of $3,690.48, a P/E ratio of 18.31, a P/E/G ratio of 1.76 and a beta of 1.05. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.02 and a current ratio of 1.04.

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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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