Shares of United Bankshares Inc. (NASDAQ:UBSI) fell 1% during trading on Wednesday . The company traded as low as $38.60 and last traded at $38.66, with a volume of 106,051 shares traded. The stock had previously closed at $39.04.

Separately, Zacks Investment Research raised United Bankshares from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Thursday, June 2nd.

The company has a 50 day moving average price of $37.83 and a 200 day moving average price of $36.61. The stock has a market capitalization of $2.70 billion and a P/E ratio of 19.53.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, April 28th. The financial services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. During the same period last year, the firm earned $0.50 EPS. Equities analysts forecast that United Bankshares Inc. will post $2.04 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Friday, June 10th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend was Wednesday, June 8th.

Other hedge funds recently bought and sold shares of the company. ProShare Advisors LLC raised its stake in United Bankshares by 17.5% in the fourth quarter. ProShare Advisors LLC now owns 28,769 shares of the financial services provider’s stock worth $1,064,000 after buying an additional 4,295 shares in the last quarter. State of Tennessee Treasury Department bought a new stake in United Bankshares during the fourth quarter worth $1,868,000. Nationwide Fund Advisors raised its stake in United Bankshares by 1.3% in the fourth quarter. Nationwide Fund Advisors now owns 53,170 shares of the financial services provider’s stock worth $1,967,000 after buying an additional 672 shares in the last quarter. Comerica Bank raised its stake in United Bankshares by 0.8% in the fourth quarter. Comerica Bank now owns 65,908 shares of the financial services provider’s stock worth $2,267,000 after buying an additional 519 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in United Bankshares by 0.3% in the fourth quarter. Bank of Montreal Can now owns 69,308 shares of the financial services provider’s stock worth $2,564,000 after buying an additional 220 shares in the last quarter.

United Bankshares, Inc (United) is a bank holding company. The Company has approximately two banking subsidiaries (the Banking Subsidiaries) doing business under the name of United Bank, one operating under the laws of West Virginia referred to as United Bank (WV) and the other operating under the laws of Virginia referred to as United Bank (VA).

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.