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

StockNews.com upgraded shares of United Bankshares (NASDAQ:UBSI) from a sell rating to a hold rating in a research report released on Wednesday morning.

A number of other equities research analysts also recently issued reports on the stock. DA Davidson upped 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, July 26th. Keefe, Bruyette & Woods boosted their price objective on shares of United Bankshares from $38.00 to $40.00 and gave the company a market perform rating in a research report on Friday, July 26th. Finally, Stephens lifted their price target on shares of United Bankshares from $36.00 to $39.00 and gave the stock an equal weight rating in a research note on Friday, July 26th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $40.25.

United Bankshares Stock Performance

UBSI opened at $37.84 on Wednesday. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 14.44 and a beta of 0.99. United Bankshares has a fifty-two week low of $25.35 and a fifty-two week high of $39.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.99 and a current ratio of 1.00. The company has a fifty day moving average of $37.20 and a 200 day moving average of $34.63.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. United Bankshares had a return on equity of 7.72% and a net margin of 22.44%. The company had revenue of $255.94 million during the quarter, compared to analyst estimates of $255.54 million. During the same period in the prior year, the company earned $0.68 earnings per share. The firm’s revenue was down 2.6% on a year-over-year basis. As a group, sell-side analysts forecast that United Bankshares will post 2.7 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.37 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.48 dividend on an annualized basis and a yield of 3.91%. United Bankshares’s payout ratio is 56.49%.

Institutional Investors Weigh In On United Bankshares

Several large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in shares of United Bankshares by 253.5% during the second quarter. GAMMA Investing LLC now owns 1,545 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 1,108 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of United Bankshares during the 4th quarter worth $58,000. New Covenant Trust Company N.A. bought a new stake in shares of United Bankshares in the first quarter valued at about $79,000. Innealta Capital LLC purchased a new stake in United Bankshares in the second quarter worth about $116,000. Finally, TFO Wealth Partners LLC grew its holdings in United Bankshares by 47,150.0% during the 4th quarter. TFO Wealth Partners LLC now owns 3,780 shares of the financial services provider’s stock worth $142,000 after acquiring an additional 3,772 shares in the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.

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.