United Bankshares, Inc. to Issue Quarterly Dividend of $0.33 (UBSI)
United Bankshares, Inc. (NASDAQ:UBSI) declared a quarterly dividend on Monday, August 28th, RTT News reports. Shareholders of record on Friday, September 8th will be paid a dividend of 0.33 per share by the financial services provider on Monday, October 2nd. This represents a $1.32 annualized dividend and a yield of 3.92%.
United Bankshares has increased its dividend payment by an average of 2.1% per year over the last three years. United Bankshares has a dividend payout ratio of 68.8% meaning its dividend is sufficiently covered by earnings. Analysts expect United Bankshares to earn $2.17 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 60.8%.
United Bankshares (NASDAQ UBSI) traded down 1.04% on Tuesday, hitting $33.30. The stock had a trading volume of 89,030 shares. United Bankshares has a 1-year low of $31.71 and a 1-year high of $49.35. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 17.82 and a beta of 1.05. The company has a 50-day moving average price of $35.24 and a 200-day moving average price of $39.61.
United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by $0.14. United Bankshares had a net margin of 20.97% and a return on equity of 5.41%. The company had revenue of $176.75 million during the quarter, compared to the consensus estimate of $164.09 million. During the same period in the previous year, the business earned $0.44 earnings per share. Equities analysts predict that United Bankshares will post $1.92 earnings per share for the current year.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded United Bankshares from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. BidaskClub upgraded United Bankshares from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Finally, Boenning Scattergood upgraded United Bankshares from an “underperform” rating to a “neutral” rating in a report on Thursday, May 18th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. United Bankshares presently has an average rating of “Hold” and an average target price of $42.63.
In other United Bankshares news, insider William Mark Tatterson purchased 1,000 shares of United Bankshares stock in a transaction dated Monday, August 14th. The shares were purchased at an average cost of $32.30 per share, for a total transaction of $32,300.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael P. Fitzgerald sold 13,038 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $40.04, for a total value of $522,041.52. Following the completion of the sale, the director now owns 12,738 shares in the company, valued at $510,029.52. The disclosure for this sale can be found here. Over the last quarter, insiders bought 13,747 shares of company stock worth $460,281. Company insiders own 6.23% of the company’s stock.
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United Bankshares Company Profile
United Bankshares, Inc (United) is a bank holding company. The Company operates through community banking segment. United’s Banking Subsidiaries offer a range of commercial and retail banking services and products. United, through its subsidiaries, engages in community banking and offers banking products and services permitted by law and regulation.
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