United Bankshares, Inc. (NASDAQ:UBSI) – Research analysts at DA Davidson raised their FY2019 earnings estimates for shares of United Bankshares in a research note issued on Friday, October 25th. DA Davidson analyst R. Gunther now forecasts that the financial services provider will post earnings per share of $2.60 for the year, up from their prior forecast of $2.55. DA Davidson also issued estimates for United Bankshares’ FY2020 earnings at $2.38 EPS.
United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. The firm had revenue of $185.06 million for the quarter, compared to the consensus estimate of $181.44 million. United Bankshares had a net margin of 28.68% and a return on equity of 7.89%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 earnings per share.
Several other research analysts have also recently weighed in on UBSI. Zacks Investment Research raised shares of United Bankshares from a “sell” rating to a “hold” rating in a report on Saturday. ValuEngine cut shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, BidaskClub raised shares of United Bankshares from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 19th.
UBSI opened at $40.15 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average price of $38.33 and a 200-day moving average price of $37.43. United Bankshares has a twelve month low of $29.13 and a twelve month high of $40.32. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 16.39 and a beta of 1.23.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $0.34 per share. The ex-dividend date was Thursday, September 12th. This represents a $1.36 annualized dividend and a dividend yield of 3.39%. United Bankshares’s payout ratio is 55.51%.
In related news, Director Mary K. Weddle acquired 2,300 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $35.19 per share, with a total value of $80,937.00. Following the completion of the acquisition, the director now directly owns 11,776 shares of the company’s stock, valued at $414,397.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.62% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in UBSI. FMR LLC raised its holdings in shares of United Bankshares by 213.3% during the first quarter. FMR LLC now owns 5,382 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 3,664 shares during the last quarter. First National Bank of Omaha increased its holdings in United Bankshares by 0.3% during the second quarter. First National Bank of Omaha now owns 136,051 shares of the financial services provider’s stock valued at $5,046,000 after buying an additional 459 shares during the last quarter. Ridgewood Investments LLC increased its holdings in United Bankshares by 13.4% during the second quarter. Ridgewood Investments LLC now owns 7,933 shares of the financial services provider’s stock valued at $294,000 after buying an additional 938 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in United Bankshares by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 42,108 shares of the financial services provider’s stock valued at $1,562,000 after buying an additional 584 shares during the last quarter. Finally, Toth Financial Advisory Corp increased its holdings in United Bankshares by 912.8% during the second quarter. Toth Financial Advisory Corp now owns 11,738 shares of the financial services provider’s stock valued at $435,000 after buying an additional 10,579 shares during the last quarter. 70.15% of the stock is owned by hedge funds and other institutional investors.
United Bankshares Company Profile
United Bankshares, Inc, a financial holding company, 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.
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