United Bankshares, Inc. (NASDAQ:UBSI) Receives $45.75 Average Target Price from Brokerages

Shares of United Bankshares, Inc. (NASDAQ:UBSI) have received a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $45.75.

A number of equities analysts recently commented on the company. Raymond James Financial restated an “outperform” rating and set a $49.00 target price on shares of United Bankshares in a report on Monday, April 27th. Wall Street Zen downgraded United Bankshares from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Research downgraded United Bankshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Finally, Weiss Ratings upgraded United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th.

United Bankshares Stock Performance

NASDAQ:UBSI opened at $45.65 on Wednesday. The firm has a market cap of $6.29 billion, a PE ratio of 12.79 and a beta of 0.71. United Bankshares has a fifty-two week low of $34.10 and a fifty-two week high of $45.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. The business has a 50 day moving average price of $43.39 and a 200-day moving average price of $41.65.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. The firm had revenue of $316.58 million during the quarter, compared to analyst estimates of $315.15 million. United Bankshares had a return on equity of 9.26% and a net margin of 27.45%.During the same quarter in the prior year, the firm posted $0.59 earnings per share. Equities research analysts predict that United Bankshares will post 3.64 earnings per share for the current year.

United Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, June 12th. United Bankshares’s dividend payout ratio is currently 42.58%.

Institutional Investors Weigh In On United Bankshares

Institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its holdings in United Bankshares by 20.5% in the 1st quarter. Bank of America Corp DE now owns 1,631,894 shares of the financial services provider’s stock worth $67,593,000 after buying an additional 277,836 shares in the last quarter. Edgestream Partners L.P. purchased a new position in United Bankshares in the first quarter worth about $619,000. Arkadios Wealth Advisors boosted its position in United Bankshares by 10.8% in the first quarter. Arkadios Wealth Advisors now owns 81,499 shares of the financial services provider’s stock worth $3,376,000 after purchasing an additional 7,940 shares during the last quarter. Amundi boosted its position in United Bankshares by 204.8% in the first quarter. Amundi now owns 49,874 shares of the financial services provider’s stock worth $2,066,000 after purchasing an additional 33,511 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in United Bankshares by 16.9% in the first quarter. California State Teachers Retirement System now owns 155,643 shares of the financial services provider’s stock worth $6,447,000 after purchasing an additional 22,458 shares during the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.

United Bankshares Company Profile

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.