StockNews.com Upgrades United Bankshares (NASDAQ:UBSI) to Hold

StockNews.com upgraded shares of United Bankshares (NASDAQ:UBSI) from a sell rating to a hold rating in a report issued on Friday morning.

Other equities research analysts have also issued reports about the company. Stephens upped their price target on United Bankshares from $36.00 to $39.00 and gave the company an equal weight rating in a research report on Friday. Keefe, Bruyette & Woods increased their target price on shares of United Bankshares from $38.00 to $40.00 and gave the stock a market perform rating in a report on Friday. Finally, DA Davidson lifted their price target on shares of United Bankshares from $36.00 to $41.00 and gave the company a neutral rating in a report on Friday. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, United Bankshares presently has an average rating of Hold and a consensus price target of $39.20.

United Bankshares Trading Down 2.0 %

UBSI opened at $38.55 on Friday. United Bankshares has a 12-month low of $25.35 and a 12-month high of $39.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $5.21 billion, a PE ratio of 14.71 and a beta of 1.00. The firm’s fifty day moving average price is $33.27 and its 200 day moving average price is $34.16.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. The business had revenue of $255.94 million for the quarter, compared to analyst estimates of $255.54 million. United Bankshares had a net margin of 22.44% and a return on equity of 7.72%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.68 EPS. As a group, research analysts expect that United Bankshares will post 2.64 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend was Friday, June 14th. United Bankshares’s dividend payout ratio (DPR) is 56.49%.

Institutional Trading of United Bankshares

A number of large investors have recently modified their holdings of UBSI. Innealta Capital LLC acquired a new position in United Bankshares during the 2nd quarter valued at about $116,000. Nisa Investment Advisors LLC raised its holdings in shares of United Bankshares by 96.9% during the second quarter. Nisa Investment Advisors LLC now owns 12,848 shares of the financial services provider’s stock valued at $422,000 after buying an additional 6,323 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of United Bankshares by 1.8% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,334,931 shares of the financial services provider’s stock worth $43,305,000 after buying an additional 23,640 shares during the period. Blue Trust Inc. grew its holdings in United Bankshares by 2,977.3% in the 2nd quarter. Blue Trust Inc. now owns 6,647 shares of the financial services provider’s stock worth $238,000 after buying an additional 6,431 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in United Bankshares by 5.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,587 shares of the financial services provider’s stock valued at $214,000 after acquiring an additional 350 shares during the period. Institutional investors and hedge funds own 70.80% of the company’s stock.

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.