United Bankshares (NASDAQ:UBSI) Given New $48.00 Price Target at Keefe, Bruyette & Woods

United Bankshares (NASDAQ:UBSI) had its target price lifted by Keefe, Bruyette & Woods from $46.00 to $48.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential downside of 0.27% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Hovde Group lifted their price target on United Bankshares from $49.00 to $50.00 and gave the stock a “market perform” rating in a research report on Friday. Raymond James Financial increased their price objective 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. Wall Street Zen upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of United Bankshares in a report on Monday, July 6th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $47.80.

United Bankshares Stock Up 0.7%

UBSI stock traded up $0.33 on Monday, reaching $48.13. 349,345 shares of the company traded hands, compared to its average volume of 959,753. The firm has a fifty day simple moving average of $45.10 and a 200-day simple moving average of $43.23. The company has a market cap of $6.63 billion, a P/E ratio of 13.14 and a beta of 0.71. United Bankshares has a one year low of $34.10 and a one year high of $48.37. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98.

United Bankshares (NASDAQ:UBSI) last released its earnings results on Thursday, July 23rd. The financial services provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.89 by $0.06. United Bankshares had a return on equity of 9.39% and a net margin of 27.97%.The business had revenue of $323.82 million for the quarter, compared to the consensus estimate of $320.07 million. During the same period in the previous year, the company posted $0.85 earnings per share. Research analysts anticipate that United Bankshares will post 3.65 earnings per share for the current year.

Hedge Funds Weigh In On United Bankshares

A number of hedge funds have recently bought and sold shares of UBSI. Caitong International Asset Management Co. Ltd bought a new position in United Bankshares during the 3rd quarter valued at about $25,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of United Bankshares in the fourth quarter worth approximately $26,000. Root Financial Partners LLC grew its stake in shares of United Bankshares by 64.4% in the first quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 308 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of United Bankshares by 196.2% during the fourth quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 567 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of United Bankshares by 528.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 988 shares during the last quarter. Hedge funds and other institutional investors own 70.80% of the company’s stock.

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.