United Bankshares, Inc. (NASDAQ:UBSI – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $49.30 and last traded at $49.3860, with a volume of 129332 shares. The stock had previously closed at $48.91.
Wall Street Analyst Weigh In
Several brokerages have recently commented on UBSI. Wall Street Zen upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Hovde Group upped their price target on United Bankshares from $49.00 to $50.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Keefe, Bruyette & Woods lifted their price objective on shares of United Bankshares from $46.00 to $48.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Raymond James Financial upped their price target on United Bankshares from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of United Bankshares in a research report on Monday, July 6th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, United Bankshares presently has a consensus rating of “Hold” and an average target price of $47.80.
Read Our Latest Stock Analysis on UBSI
United Bankshares Price Performance
United Bankshares (NASDAQ:UBSI – Get Free Report) last released its earnings results on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.06. The company had revenue of $323.82 million for the quarter, compared to analysts’ expectations of $320.07 million. United Bankshares had a return on equity of 9.39% and a net margin of 27.97%.During the same quarter in the previous year, the firm posted $0.85 EPS. Equities research analysts forecast that United Bankshares, Inc. will post 3.71 earnings per share for the current year.
United Bankshares Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 12th were issued a $0.38 dividend. The ex-dividend date was Friday, June 12th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.1%. United Bankshares’s dividend payout ratio is currently 41.42%.
Institutional Investors Weigh In On United Bankshares
A number of large investors have recently added to or reduced their stakes in the business. Brighton Jones LLC increased its position in United Bankshares by 4.6% during the fourth quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider’s stock worth $634,000 after buying an additional 748 shares in the last quarter. Royal Bank of Canada boosted its holdings in United Bankshares by 2.0% in the first quarter. Royal Bank of Canada now owns 66,649 shares of the financial services provider’s stock valued at $2,310,000 after acquiring an additional 1,298 shares during the last quarter. Millennium Management LLC grew its holdings in shares of United Bankshares by 464.1% during the 1st quarter. Millennium Management LLC now owns 137,336 shares of the financial services provider’s stock worth $4,761,000 after purchasing an additional 112,988 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of United Bankshares by 7.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 409,428 shares of the financial services provider’s stock valued at $14,195,000 after acquiring an additional 28,366 shares during the period. Finally, Jane Street Group LLC raised its stake in shares of United Bankshares by 564.0% in the 1st quarter. Jane Street Group LLC now owns 182,540 shares of the financial services provider’s stock valued at $6,329,000 after acquiring an additional 155,051 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.
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