United Bankshares (NASDAQ:UBSI) Announces Earnings Results, Beats Expectations By $0.03 EPS

United Bankshares (NASDAQ:UBSI) released its earnings results on Thursday. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03, Briefing.com reports. The company had revenue of $414.67 million during the quarter, compared to the consensus estimate of $260.30 million. United Bankshares had a return on equity of 7.72% and a net margin of 22.44%. During the same quarter in the previous year, the company posted $0.71 EPS.

United Bankshares Trading Down 0.1 %

Shares of UBSI traded down $0.03 during mid-day trading on Friday, hitting $37.16. 96,371 shares of the company’s stock traded hands, compared to its average volume of 516,388. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.31. United Bankshares has a 1 year low of $27.21 and a 1 year high of $39.93. The firm has a market capitalization of $5.02 billion, a P/E ratio of 14.19 and a beta of 0.99. The business’s 50-day moving average price is $37.19 and its 200-day moving average price is $35.02.

United Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a dividend of $0.37 per share. The ex-dividend date was Friday, September 13th. This represents a $1.48 annualized dividend and a dividend yield of 3.98%. United Bankshares’s dividend payout ratio (DPR) is presently 56.49%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. StockNews.com downgraded United Bankshares from a “hold” rating to a “sell” rating in a research report on Thursday, September 26th. Keefe, Bruyette & Woods lifted their price target on United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Stephens lifted their price target on United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Finally, DA Davidson lifted their price target on United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $40.25.

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.