$180.53 Million in Sales Expected for United Bankshares, Inc. (UBSI) This Quarter

Brokerages predict that United Bankshares, Inc. (NASDAQ:UBSI) will announce sales of $180.53 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for United Bankshares’ earnings, with estimates ranging from $180.00 million to $181.22 million. United Bankshares posted sales of $187.62 million during the same quarter last year, which suggests a negative year-over-year growth rate of 3.8%. The firm is expected to report its next quarterly earnings results on Tuesday, January 29th.

According to Zacks, analysts expect that United Bankshares will report full-year sales of $723.80 million for the current financial year, with estimates ranging from $722.04 million to $724.86 million. For the next year, analysts anticipate that the business will post sales of $735.34 million, with estimates ranging from $731.53 million to $742.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for United Bankshares.

United Bankshares (NASDAQ:UBSI) last released its earnings results on Thursday, October 25th. The financial services provider reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.01). United Bankshares had a net margin of 25.09% and a return on equity of 7.64%. The business had revenue of $180.46 million for the quarter, compared to the consensus estimate of $189.56 million.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday. BidaskClub raised shares of United Bankshares from a “strong sell” rating to a “sell” rating in a report on Tuesday. Boenning Scattergood reissued a “hold” rating on shares of United Bankshares in a report on Friday, October 26th. Finally, ValuEngine lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. United Bankshares has a consensus rating of “Hold” and an average price target of $39.33.

In other United Bankshares news, Director Peter A. Converse sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $39.00, for a total value of $195,000.00. Following the sale, the director now owns 474,310 shares of the company’s stock, valued at approximately $18,498,090. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Peter A. Converse sold 2,500 shares of the firm’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $39.50, for a total transaction of $98,750.00. Following the completion of the sale, the director now directly owns 471,810 shares in the company, valued at approximately $18,636,495. The disclosure for this sale can be found here. 5.15% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in UBSI. BlackRock Inc. lifted its position in shares of United Bankshares by 3.3% in the 2nd quarter. BlackRock Inc. now owns 14,062,668 shares of the financial services provider’s stock worth $511,882,000 after purchasing an additional 448,147 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of United Bankshares by 8.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,116,599 shares of the financial services provider’s stock worth $149,846,000 after purchasing an additional 304,259 shares during the period. Northern Trust Corp lifted its position in shares of United Bankshares by 1.0% in the 2nd quarter. Northern Trust Corp now owns 2,931,293 shares of the financial services provider’s stock worth $106,699,000 after purchasing an additional 29,720 shares during the period. Bank of America Corp DE lifted its position in shares of United Bankshares by 1.0% in the 2nd quarter. Bank of America Corp DE now owns 1,031,464 shares of the financial services provider’s stock worth $37,545,000 after purchasing an additional 10,138 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of United Bankshares by 3.8% in the 2nd quarter. Wells Fargo & Company MN now owns 1,010,566 shares of the financial services provider’s stock worth $36,785,000 after purchasing an additional 36,729 shares during the period. 72.28% of the stock is currently owned by institutional investors and hedge funds.

United Bankshares stock traded down $0.61 during trading hours on Monday, reaching $34.45. The stock had a trading volume of 390,816 shares, compared to its average volume of 557,750. The firm has a market cap of $3.63 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 1.78 and a beta of 1.11. United Bankshares has a 52 week low of $31.01 and a 52 week high of $39.95. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.41.

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.

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