United Bankshares (NASDAQ:UBSI) Issues Quarterly Earnings Results

United Bankshares (NASDAQ:UBSI) issued its quarterly earnings results on Thursday. The financial services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.64 by $0.07, Briefing.com reports. The company had revenue of $255.94 million for the quarter, compared to the consensus estimate of $255.54 million. United Bankshares had a return on equity of 7.72% and a net margin of 22.51%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 EPS.

United Bankshares Trading Up 2.6 %

Shares of UBSI stock traded up $0.99 on Friday, reaching $39.32. 735,538 shares of the stock were exchanged, compared to its average volume of 528,581. The stock has a market cap of $5.32 billion, a PE ratio of 15.01 and a beta of 1.00. United Bankshares has a one year low of $25.35 and a one year high of $39.86. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a 50 day moving average price of $33.09 and a 200 day moving average price of $34.17.

United Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.76%. United Bankshares’s payout ratio is currently 56.49%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on UBSI shares. DA Davidson lifted their price objective on United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday. StockNews.com raised United Bankshares from a “sell” rating to a “hold” rating in a report on Friday. Stephens lifted their price objective on United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Keefe, Bruyette & Woods lifted their price objective on United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $39.20.

About United Bankshares

United Bankshares, Inc, through its subsidiaries, 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.