United Bankshares (NASDAQ:UBSI) Issues Earnings Results, Beats Estimates By $0.04 EPS

United Bankshares (NASDAQ:UBSI) posted its earnings results on Thursday. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04, FiscalAI reports. The company had revenue of $318.14 million during the quarter, compared to the consensus estimate of $315.15 million. United Bankshares had a net margin of 25.51% and a return on equity of 8.60%. During the same period in the previous year, the firm posted $0.59 earnings per share.

United Bankshares Stock Performance

UBSI traded up $0.45 on Thursday, reaching $43.84. The stock had a trading volume of 236,047 shares, compared to its average volume of 955,151. United Bankshares has a 12-month low of $33.70 and a 12-month high of $45.92. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.10. The business’s 50-day moving average price is $41.99 and its two-hundred day moving average price is $39.87. The company has a market cap of $6.12 billion, a P/E ratio of 13.40 and a beta of 0.73.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.52 dividend on an annualized basis and a yield of 3.5%. United Bankshares’s payout ratio is presently 46.48%.

Analysts Set New Price Targets

UBSI has been the subject of a number of research reports. Piper Sandler restated an “overweight” rating and set a $47.00 target price on shares of United Bankshares in a research report on Monday, January 26th. Zacks Research downgraded shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Keefe, Bruyette & Woods boosted their target price on shares of United Bankshares from $40.00 to $43.00 and gave the company a “market perform” rating in a research report on Monday, January 26th. Weiss Ratings upgraded shares of United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 13th. Finally, Stephens boosted their target price on shares of United Bankshares from $40.00 to $44.00 and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, United Bankshares presently has a consensus rating of “Hold” and a consensus target price of $44.67.

Institutional Trading of United Bankshares

Institutional investors and hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new stake in shares of United Bankshares during the third quarter worth about $25,000. EverSource Wealth Advisors LLC increased its stake in shares of United Bankshares by 528.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 988 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of United Bankshares by 6,386.8% during the fourth quarter. Quadrant Capital Group LLC now owns 3,438 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 3,385 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of United Bankshares during the fourth quarter worth about $189,000. Finally, Polymer Capital Management HK LTD purchased a new stake in United Bankshares during the 3rd quarter valued at about $245,000. Hedge funds and other institutional investors own 70.80% of the company’s stock.

About United Bankshares

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.