United Bankshares (NASDAQ:UBSI) Hits New 12-Month High – Here’s What Happened

United Bankshares, Inc. (NASDAQ:UBSI) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $40.52 and last traded at $40.4120, with a volume of 261587 shares traded. The stock had previously closed at $39.28.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Zacks Research cut shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 22nd. Piper Sandler set a $42.50 price target on shares of United Bankshares and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of United Bankshares in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, United Bankshares currently has an average rating of “Hold” and an average price target of $41.83.

United Bankshares Stock Up 0.4%

The firm’s fifty day moving average is $38.07 and its 200-day moving average is $37.37. The company has a market capitalization of $5.71 billion, a P/E ratio of 13.32 and a beta of 0.78. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, October 23rd. The financial services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.10. The firm had revenue of $280.90 million for the quarter, compared to analyst estimates of $307.78 million. United Bankshares had a net margin of 24.37% and a return on equity of 8.15%. During the same quarter last year, the business posted $0.70 earnings per share. As a group, equities research analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were given a dividend of $0.38 per share. The ex-dividend date was Friday, December 12th. This represents a $1.52 dividend on an annualized basis and a yield of 3.7%. This is an increase from United Bankshares’s previous quarterly dividend of $0.37. United Bankshares’s dividend payout ratio is presently 49.84%.

Institutional Trading of United Bankshares

A number of hedge funds have recently made changes to their positions in UBSI. Ameritas Advisory Services LLC bought a new position in United Bankshares in the 2nd quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd acquired a new position in United Bankshares in the 3rd quarter valued at approximately $25,000. Hantz Financial Services Inc. raised its stake in shares of United Bankshares by 261.8% during the second quarter. Hantz Financial Services Inc. now owns 749 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 542 shares during the last quarter. Bogart Wealth LLC raised its stake in shares of United Bankshares by 655.4% during the third quarter. Bogart Wealth LLC now owns 763 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 662 shares during the last quarter. Finally, Rothschild Investment LLC lifted its holdings in shares of United Bankshares by 174.8% during the third quarter. Rothschild Investment LLC now owns 838 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 533 shares during the period. 70.80% of the stock is owned by institutional investors and hedge funds.

United Bankshares Company Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.