United Bankshares (NASDAQ:UBSI) Price Target Cut to $38.00 by Analysts at Keefe, Bruyette & Woods

United Bankshares (NASDAQ:UBSI) had its price target reduced by Keefe, Bruyette & Woods from $40.00 to $38.00 in a report issued on Friday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Several other brokerages have also recently weighed in on UBSI. Stephens decreased their price objective on shares of United Bankshares from $36.00 to $34.00 and set an equal weight rating on the stock in a research note on Friday, April 26th. Raymond James upped their target price on shares of United Bankshares from $38.00 to $41.00 and gave the company an outperform rating in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, United Bankshares currently has an average rating of Hold and an average target price of $37.00.

United Bankshares Stock Performance

Shares of NASDAQ UBSI traded up $0.14 during trading hours on Friday, hitting $33.96. 250,378 shares of the stock were exchanged, compared to its average volume of 480,642. The firm has a market capitalization of $4.59 billion, a P/E ratio of 12.96 and a beta of 1.01. United Bankshares has a one year low of $25.35 and a one year high of $38.74. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.00 and a quick ratio of 0.99. The company’s 50 day moving average is $34.08 and its 200 day moving average is $34.14.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.01). United Bankshares had a net margin of 22.51% and a return on equity of 7.72%. The business had revenue of $401.39 million during the quarter, compared to analyst estimates of $256.80 million. During the same period in the prior year, the business posted $0.74 earnings per share. On average, research analysts expect that United Bankshares will post 2.63 EPS for the current year.

United Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were given a $0.37 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.36%. United Bankshares’s payout ratio is presently 56.49%.

Institutional Trading of United Bankshares

A number of institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of United Bankshares by 58.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,471 shares of the financial services provider’s stock valued at $3,435,000 after acquiring an additional 33,812 shares in the last quarter. Verity Asset Management Inc. boosted its holdings in United Bankshares by 18.2% in the third quarter. Verity Asset Management Inc. now owns 22,816 shares of the financial services provider’s stock worth $629,000 after acquiring an additional 3,506 shares in the last quarter. New York State Common Retirement Fund grew its position in United Bankshares by 13.3% in the 4th quarter. New York State Common Retirement Fund now owns 664,599 shares of the financial services provider’s stock valued at $24,956,000 after purchasing an additional 78,022 shares during the period. Anchor Capital Advisors LLC increased its position in shares of United Bankshares by 99.0% during the fourth quarter. Anchor Capital Advisors LLC now owns 50,560 shares of the financial services provider’s stock worth $1,899,000 after acquiring an additional 25,155 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in shares of United Bankshares by 103.9% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,142,091 shares of the financial services provider’s stock worth $42,885,000 after purchasing an additional 581,870 shares during the last quarter. 70.80% of the stock is currently owned by institutional investors.

About United Bankshares

United Bankshares, Inc, through its subsidiaries, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts.