United Bankshares, Inc. (NASDAQ:UBSI) Expected to Announce Quarterly Sales of $184.51 Million

Brokerages forecast that United Bankshares, Inc. (NASDAQ:UBSI) will post $184.51 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for United Bankshares’ earnings, with the lowest sales estimate coming in at $181.37 million and the highest estimate coming in at $188.54 million. United Bankshares posted sales of $180.46 million in the same quarter last year, which suggests a positive year over year growth rate of 2.2%. The business is scheduled to issue its next earnings report on Thursday, October 24th.

On average, analysts expect that United Bankshares will report full-year sales of $727.08 million for the current year, with estimates ranging from $722.44 million to $734.31 million. For the next year, analysts forecast that the business will report sales of $747.73 million, with estimates ranging from $717.88 million to $767.69 million. Zacks’ sales calculations are an average based on a survey of analysts that cover United Bankshares.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.02. The firm had revenue of $190.35 million for the quarter, compared to the consensus estimate of $183.29 million. United Bankshares had a net margin of 29.01% and a return on equity of 7.90%. During the same period last year, the firm posted $0.63 EPS.

UBSI has been the topic of several recent research reports. Zacks Investment Research downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Saturday, July 27th. Boenning Scattergood restated a “neutral” rating on shares of United Bankshares in a research report on Thursday, June 20th. Finally, BidaskClub upgraded shares of United Bankshares from a “hold” rating to a “buy” rating in a research report on Wednesday.

Several hedge funds have recently added to or reduced their stakes in UBSI. Krane Funds Advisors LLC bought a new stake in shares of United Bankshares during the 2nd quarter worth about $59,000. Burt Wealth Advisors raised its position in shares of United Bankshares by 290.4% during the 2nd quarter. Burt Wealth Advisors now owns 1,952 shares of the financial services provider’s stock worth $72,000 after buying an additional 1,452 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of United Bankshares during the 1st quarter worth about $112,000. Cubist Systematic Strategies LLC bought a new stake in shares of United Bankshares during the 2nd quarter worth about $114,000. Finally, Captrust Financial Advisors raised its position in shares of United Bankshares by 25.3% during the 2nd quarter. Captrust Financial Advisors now owns 3,922 shares of the financial services provider’s stock worth $147,000 after buying an additional 792 shares in the last quarter. Institutional investors own 72.56% of the company’s stock.

NASDAQ:UBSI traded down $1.15 during mid-day trading on Wednesday, hitting $35.22. The stock had a trading volume of 240,415 shares, compared to its average volume of 441,826. The stock has a market capitalization of $3.59 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 1.80 and a beta of 1.23. The stock’s 50 day moving average is $36.70. United Bankshares has a 52 week low of $29.13 and a 52 week high of $39.95. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.04 and a quick ratio of 1.02.

About United Bankshares

United Bankshares, Inc, a financial holding company, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts.

Featured Article: Can systematic risk be avoided?

Get a free copy of the Zacks research report on United Bankshares (UBSI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for United Bankshares (NASDAQ:UBSI)

Receive News & Ratings for United Bankshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Bankshares and related companies with MarketBeat.com's FREE daily email newsletter.