United Bankshares (NASDAQ:UBSI) Stock Price Breaks Above Two Hundred Day Moving Average – Here’s Why

United Bankshares, Inc. (NASDAQ:UBSI – Get Free Report) crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $45.03 and traded as high as $46.95. United Bankshares shares last traded at $46.72, with a volume of 952,985 shares traded.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Raymond James Financial boosted their price target on United Bankshares from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Wall Street Zen upgraded United Bankshares from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Keefe, Bruyette & Woods lifted their price objective on United Bankshares from $46.00 to $48.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Hovde Group upped their target price on United Bankshares from $49.00 to $50.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of United Bankshares in a research note on Monday, July 6th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $47.80.

View Our Latest Stock Report on UBSI

United Bankshares Trading Down 0.9%

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.98. The business’s 50 day moving average price is $47.74 and its 200-day moving average price is $45.08. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of 12.47 and a beta of 0.70.

United Bankshares (NASDAQ:UBSI – Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. The business had revenue of $323.82 million during the quarter, compared to the consensus estimate of $320.07 million. United Bankshares had a return on equity of 9.39% and a net margin of 27.97%.During the same period last year, the firm earned $0.85 earnings per share. Equities analysts expect that United Bankshares, Inc. will post 3.72 EPS for the current year.

United Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given a $0.38 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.52 annualized dividend and a dividend yield of 3.3%. United Bankshares’s dividend payout ratio (DPR) is presently 41.42%.

Insider Buying and Selling at United Bankshares

In other news, Director Mark Nesselroad sold 3,200 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $46.42, for a total value of $148,544.00. Following the completion of the sale, the director directly owned 32,224 shares in the company, valued at approximately $1,495,838.08. The trade was a 9.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.16% of the company’s stock.

Hedge Funds Weigh In On United Bankshares

Several large investors have recently added to or reduced their stakes in UBSI. Bank of America Corp DE acquired a new stake in United Bankshares in the second quarter worth $64,802,000. EP Wealth Advisors LLC acquired a new position in shares of United Bankshares during the second quarter valued at $3,979,000. Legal & General Group Plc acquired a new position in shares of United Bankshares during the second quarter valued at $8,792,000. Deutsche Bank AG bought a new position in shares of United Bankshares during the second quarter worth about $6,697,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of United Bankshares during the second quarter worth about $5,875,000. 70.80% of the stock is currently owned by institutional investors.

About United Bankshares

(Get Free Report)

United Bankshares, Inc is a bank holding company headquartered in Charleston, West Virginia. Through its principal banking subsidiary, United Bank, the company provides community banking services to individuals, businesses and institutions.

United Bank offers a range of financial products, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, business loans and lines of credit. Its services also include mortgage banking, treasury management, wealth management, trust and investment services, and insurance-related products.

The company traces its history to 1839 and has expanded through organic growth and bank acquisitions.

Further Reading

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