$252.54 Million in Sales Expected for United Bankshares, Inc. (NASDAQ:UBSI) This Quarter

Wall Street brokerages predict that United Bankshares, Inc. (NASDAQ:UBSIGet Rating) will announce $252.54 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for United Bankshares’ earnings. The highest sales estimate is $257.22 million and the lowest is $245.30 million. United Bankshares posted sales of $249.36 million in the same quarter last year, which suggests a positive year-over-year growth rate of 1.3%. The firm is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that United Bankshares will report full-year sales of $1.01 billion for the current fiscal year, with estimates ranging from $998.80 million to $1.02 billion. For the next year, analysts anticipate that the firm will report sales of $1.07 billion, with estimates ranging from $1.05 billion to $1.07 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow United Bankshares.

United Bankshares (NASDAQ:UBSIGet Rating) last announced its earnings results on Tuesday, April 26th. The financial services provider reported $0.60 earnings per share for the quarter, meeting the consensus estimate of $0.60. United Bankshares had a return on equity of 7.55% and a net margin of 33.45%. The firm had revenue of $237.53 million during the quarter, compared to the consensus estimate of $244.47 million. During the same quarter in the prior year, the company earned $0.40 EPS. The firm’s revenue for the quarter was up 1483.5% compared to the same quarter last year.

UBSI has been the topic of several research analyst reports. Zacks Investment Research upgraded United Bankshares from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Wednesday. StockNews.com lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, March 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $39.33.

Shares of United Bankshares stock traded up $0.07 during midday trading on Wednesday, hitting $36.57. 593,024 shares of the company were exchanged, compared to its average volume of 757,328. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.90 and a quick ratio of 0.89. The firm has a market cap of $4.95 billion, a P/E ratio of 14.07 and a beta of 1.13. United Bankshares has a 52 week low of $31.74 and a 52 week high of $42.00. The firm has a 50 day simple moving average of $34.77 and a 200-day simple moving average of $36.02.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 10th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Thursday, June 9th. United Bankshares’s dividend payout ratio is currently 55.38%.

In other United Bankshares news, Chairman Richard M. Sr Adams, Sr. bought 7,776 shares of the business’s stock in a transaction on Friday, April 29th. The shares were bought at an average cost of $33.60 per share, for a total transaction of $261,273.60. Following the transaction, the chairman now owns 20,557 shares in the company, valued at approximately $690,715.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.22% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Cetera Advisors LLC lifted its position in United Bankshares by 6.1% during the 1st quarter. Cetera Advisors LLC now owns 6,059 shares of the financial services provider’s stock valued at $211,000 after purchasing an additional 346 shares during the period. Bank of Montreal Can lifted its position in United Bankshares by 1.0% during the 1st quarter. Bank of Montreal Can now owns 36,804 shares of the financial services provider’s stock valued at $1,303,000 after purchasing an additional 356 shares during the period. United Capital Financial Advisers LLC lifted its position in United Bankshares by 1.0% during the 3rd quarter. United Capital Financial Advisers LLC now owns 37,845 shares of the financial services provider’s stock valued at $1,377,000 after purchasing an additional 391 shares during the period. First Bank & Trust raised its position in shares of United Bankshares by 15.6% in the 4th quarter. First Bank & Trust now owns 3,143 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 425 shares during the period. Finally, New York State Teachers Retirement System raised its position in shares of United Bankshares by 0.4% in the 1st quarter. New York State Teachers Retirement System now owns 133,807 shares of the financial services provider’s stock valued at $4,667,000 after acquiring an additional 500 shares during the period. Institutional investors own 65.77% of the company’s stock.

About United Bankshares (Get Rating)

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, NOW accounts, and interest-bearing checking accounts.

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

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