United Bankshares, Inc. (NASDAQ:UBSI) Given Average Rating of “Hold” by Brokerages

United Bankshares, Inc. (NASDAQ:UBSI) has received a consensus rating of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $46.60.

A number of equities analysts have weighed in on the company. Wall Street Zen lowered United Bankshares from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Zacks Research downgraded United Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Hovde Group initiated coverage on United Bankshares in a report on Wednesday, June 24th. They set a “market perform” rating and a $49.00 price target on the stock. Raymond James Financial boosted their price target on shares of United Bankshares from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of United Bankshares in a report on Monday, July 6th.

Institutional Trading of United Bankshares

Several hedge funds have recently made changes to their positions in UBSI. Ritholtz Wealth Management raised its holdings in United Bankshares by 2.6% during the fourth quarter. Ritholtz Wealth Management now owns 9,216 shares of the financial services provider’s stock worth $354,000 after purchasing an additional 237 shares in the last quarter. Inspire Investing LLC boosted its holdings in shares of United Bankshares by 2.0% in the 1st quarter. Inspire Investing LLC now owns 12,389 shares of the financial services provider’s stock valued at $513,000 after buying an additional 245 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of United Bankshares by 24.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,492 shares of the financial services provider’s stock valued at $57,000 after buying an additional 292 shares in the last quarter. Kestra Private Wealth Services LLC grew its position in shares of United Bankshares by 1.1% in the 4th quarter. Kestra Private Wealth Services LLC now owns 27,609 shares of the financial services provider’s stock valued at $1,060,000 after buying an additional 297 shares during the last quarter. Finally, Root Financial Partners LLC grew its position in shares of United Bankshares by 64.4% in the 1st quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider’s stock valued at $33,000 after buying an additional 308 shares during the last quarter. Hedge funds and other institutional investors own 70.80% of the company’s stock.

United Bankshares Price Performance

Shares of NASDAQ UBSI traded up $0.18 during midday trading on Friday, hitting $46.11. The stock had a trading volume of 927,696 shares, compared to its average volume of 1,089,087. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10. The stock has a 50 day simple moving average of $44.26 and a 200-day simple moving average of $42.64. The company has a market capitalization of $6.35 billion, a PE ratio of 12.92 and a beta of 0.71. United Bankshares has a 1 year low of $34.10 and a 1 year high of $47.25.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. United Bankshares had a net margin of 27.45% and a return on equity of 9.26%. The business had revenue of $316.58 million during the quarter, compared to analysts’ expectations of $315.15 million. During the same period in the prior year, the business earned $0.59 earnings per share. On average, sell-side analysts expect that United Bankshares will post 3.64 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $1.52 dividend on an annualized basis and a yield of 3.3%. United Bankshares’s payout ratio is 42.58%.

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.