Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for United Bankshares (NASDAQ:UBSI) Stock

United Bankshares (NASDAQ:UBSI) had its price target increased by equities research analysts at Keefe, Bruyette & Woods from $40.00 to $43.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 3.44% from the stock’s previous close.

A number of other research firms also recently commented on UBSI. Weiss Ratings reissued a “hold (c+)” rating on shares of United Bankshares in a research note on Monday, December 29th. Zacks Research downgraded shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $47.00 price objective on shares of United Bankshares in a research report on Monday. Finally, Stephens raised their price target on United Bankshares from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Friday. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, United Bankshares has an average rating of “Hold” and an average target price of $44.67.

United Bankshares Stock Performance

Shares of United Bankshares stock opened at $41.57 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $5.84 billion, a PE ratio of 12.71 and a beta of 0.78. United Bankshares has a 1 year low of $30.50 and a 1 year high of $43.78. The firm’s 50-day simple moving average is $39.27 and its 200-day simple moving average is $37.68.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. The business had revenue of $430.85 million during the quarter, compared to analyst estimates of $315.50 million. United Bankshares had a net margin of 25.51% and a return on equity of 8.60%. During the same period in the previous year, the business posted $0.69 EPS. Equities analysts forecast that United Bankshares will post 2.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of United Bankshares in the 3rd quarter valued at approximately $25,000. Ameritas Advisory Services LLC acquired a new position in shares of United Bankshares during the 2nd quarter worth approximately $25,000. Hantz Financial Services Inc. grew its position in shares of United Bankshares by 261.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 749 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 542 shares during the period. Bogart Wealth LLC lifted its stake in United Bankshares by 655.4% in the 3rd quarter. Bogart Wealth LLC now owns 763 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 662 shares during the last quarter. Finally, Rothschild Investment LLC lifted its position in shares of United Bankshares by 174.8% in the third quarter. Rothschild Investment LLC now owns 838 shares of the financial services provider’s stock valued at $31,000 after buying an additional 533 shares during the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

About United Bankshares

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.