United Bankshares, Inc. (NASDAQ:UBSI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “United Bankshares, Inc. is a bank holding company whose business is the operation of its bank subsidiaries. All of United’s subsidiary banks are full-service commercial banks. Included among the banking services offered are the acceptance of deposits in checking, savings, time and money market accounts; the making and servicing of personal, commercial, floor plan and student loans; and the making of construction and real estate loans. Also offered are individual retirement accounts, safe deposit boxes, wire transfers and other standard banking products and services. “
Several other brokerages have also recently issued reports on UBSI. DA Davidson assumed coverage on United Bankshares in a research note on Monday, March 6th. They issued a “neutral” rating and a $45.00 price objective for the company. Stephens assumed coverage on United Bankshares in a research note on Friday, March 3rd. They issued an “equal weight” rating for the company. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $44.88.
United Bankshares (NASDAQ:UBSI) traded down 1.035% during midday trading on Thursday, hitting $40.625. 344,294 shares of the stock traded hands. The firm’s 50-day moving average is $41.94 and its 200-day moving average is $42.98. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 20.415 and a beta of 1.04. United Bankshares has a 52-week low of $34.50 and a 52-week high of $49.35.
United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings data on Tuesday, January 31st. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. The business earned $130 million during the quarter, compared to analysts’ expectations of $127.44 million. United Bankshares had a return on equity of 7.34% and a net margin of 27.22%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 EPS. Analysts predict that United Bankshares will post $2.07 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Friday, March 10th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.22%. The ex-dividend date was Wednesday, March 8th. United Bankshares’s payout ratio is 66.33%.
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A number of large investors have recently bought and sold shares of the company. BlackRock Fund Advisors boosted its stake in United Bankshares by 6.3% in the third quarter. BlackRock Fund Advisors now owns 7,927,272 shares of the financial services provider’s stock valued at $298,620,000 after buying an additional 467,351 shares during the last quarter. State Street Corp boosted its stake in United Bankshares by 29.9% in the fourth quarter. State Street Corp now owns 6,113,493 shares of the financial services provider’s stock valued at $282,750,000 after buying an additional 1,405,930 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in United Bankshares by 19.1% in the third quarter. Ameriprise Financial Inc. now owns 2,843,836 shares of the financial services provider’s stock valued at $107,276,000 after buying an additional 455,437 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in United Bankshares by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,226,870 shares of the financial services provider’s stock valued at $102,993,000 after buying an additional 60,743 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in United Bankshares by 4.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,744,328 shares of the financial services provider’s stock valued at $65,709,000 after buying an additional 76,360 shares during the last quarter. Hedge funds and other institutional investors own 54.82% of the company’s stock.
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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