Zacks Research Upgrades United Bankshares (NASDAQ:UBSI) to “Strong-Buy”

United Bankshares (NASDAQ:UBSI) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Several other brokerages have also recently commented on UBSI. Stephens raised their target price on shares of United Bankshares from $40.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Piper Sandler restated an “overweight” rating and set a $47.00 price objective on shares of United Bankshares in a research note on Monday, January 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of United Bankshares in a research report on Monday, December 29th. Finally, Keefe, Bruyette & Woods increased their target price on United Bankshares from $40.00 to $43.00 and gave the stock a “market perform” rating in a report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.67.

United Bankshares Stock Performance

Shares of NASDAQ UBSI opened at $43.98 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 13.45 and a beta of 0.78. The stock’s fifty day moving average price is $39.87 and its two-hundred day moving average price is $37.88. United Bankshares has a one year low of $30.50 and a one year high of $44.11.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. United Bankshares had a net margin of 25.51% and a return on equity of 8.60%. The business had revenue of $430.85 million for the quarter, compared to the consensus estimate of $315.50 million. During the same period in the prior year, the company posted $0.69 earnings per share. On average, equities analysts forecast that United Bankshares will post 2.81 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brighton Jones LLC lifted its holdings in shares of United Bankshares by 4.6% in the fourth quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider’s stock worth $634,000 after acquiring an additional 748 shares during the last quarter. Royal Bank of Canada increased its position in United Bankshares by 2.0% during the 1st quarter. Royal Bank of Canada now owns 66,649 shares of the financial services provider’s stock worth $2,310,000 after purchasing an additional 1,298 shares in the last quarter. Millennium Management LLC increased its position in 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in 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 purchasing an additional 28,366 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in United Bankshares by 564.0% in the first quarter. Jane Street Group LLC now owns 182,540 shares of the financial services provider’s stock valued at $6,329,000 after buying an additional 155,051 shares in the last quarter. Institutional investors own 70.80% of the company’s stock.

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.