United Bankshares (NASDAQ:UBSI) Sets New 52-Week High – Still a Buy?

United Bankshares, Inc. (NASDAQ:UBSI) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $46.59 and last traded at $46.6550, with a volume of 232861 shares trading hands. The stock had previously closed at $45.83.

Wall Street Analyst Weigh In

UBSI has been the subject of a number of recent research reports. Raymond James Financial boosted their target price on United Bankshares from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday. Hovde Group assumed coverage on United Bankshares in a research note on Wednesday, June 24th. They issued a “market perform” rating and a $49.00 price target on the stock. Zacks Research downgraded United Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Wall Street Zen lowered United Bankshares from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, United Bankshares has a consensus rating of “Hold” and an average price target of $46.60.

United Bankshares Trading Up 1.9%

The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $6.43 billion, a PE ratio of 13.08 and a beta of 0.71. The stock’s fifty day moving average price is $43.87 and its two-hundred day moving average price is $42.30.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.04. The business had revenue of $316.58 million during the quarter, compared to analysts’ expectations of $315.15 million. United Bankshares had a return on equity of 9.26% and a net margin of 27.45%.During the same quarter last year, the business posted $0.59 EPS. Sell-side analysts anticipate that United Bankshares, Inc. will post 3.64 earnings per share for the current year.

United Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be issued a $0.38 dividend. The ex-dividend date is Friday, June 12th. This represents a $1.52 annualized dividend and a yield of 3.3%. United Bankshares’s payout ratio is 42.58%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd purchased a new stake in shares of United Bankshares in the 3rd quarter worth about $25,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of United Bankshares during the fourth quarter valued at about $26,000. Farther Finance Advisors LLC increased its position 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 buying an additional 567 shares during the period. Root Financial Partners LLC raised its stake in 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 buying an additional 308 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in United Bankshares by 528.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock worth $43,000 after buying an additional 988 shares during the period. 70.80% of the stock is currently owned by institutional investors.

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.