StockNews.com Upgrades United Bankshares (NASDAQ:UBSI) to “Hold”

United Bankshares (NASDAQ:UBSI) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

A number of other research firms have also recently issued reports on UBSI. Stephens lifted their price target on shares of United Bankshares from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday. DA Davidson lifted their price target on shares of United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods lifted their price target on shares of United Bankshares from $38.00 to $40.00 and gave the company a “market perform” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $39.20.

United Bankshares Stock Performance

Shares of United Bankshares stock traded up $0.99 during midday trading on Friday, hitting $39.32. The company had a trading volume of 735,538 shares, compared to its average volume of 528,581. The stock has a market cap of $5.32 billion, a price-to-earnings ratio of 15.01 and a beta of 1.00. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.36. The company has a fifty day simple moving average of $33.09 and a 200 day simple moving average of $34.17. United Bankshares has a 12-month low of $25.35 and a 12-month high of $39.86.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.07. The company had revenue of $255.94 million for the quarter, compared to the consensus estimate of $255.54 million. United Bankshares had a net margin of 22.51% and a return on equity of 7.72%. United Bankshares’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS. As a group, analysts predict that United Bankshares will post 2.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UBSI. Victory Capital Management Inc. raised its holdings in shares of United Bankshares by 2,745.7% during the 4th quarter. Victory Capital Management Inc. now owns 2,835,545 shares of the financial services provider’s stock worth $106,475,000 after acquiring an additional 2,735,901 shares during the period. Norges Bank purchased a new position in shares of United Bankshares during the 4th quarter worth $45,308,000. Vaughan Nelson Investment Management L.P. raised its holdings in shares of United Bankshares by 103.9% during the 4th 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 acquiring an additional 581,870 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of United Bankshares by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,291,001 shares of the financial services provider’s stock worth $273,782,000 after acquiring an additional 172,997 shares during the period. Finally, UBS Group AG raised its holdings in shares of United Bankshares by 77.5% during the 4th quarter. UBS Group AG now owns 316,889 shares of the financial services provider’s stock worth $11,899,000 after acquiring an additional 138,317 shares during the period. Hedge funds and other institutional investors own 70.80% of the company’s stock.

United Bankshares Company Profile

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.