United Bankshares (NASDAQ:UBSI) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

United Bankshares, Inc. (NASDAQ:UBSI) shares crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $45.33 and traded as high as $46.73. United Bankshares shares last traded at $46.06, with a volume of 777,255 shares.

Analyst Upgrades and Downgrades

UBSI has been the subject of a number of analyst reports. Raymond James Financial lifted their price objective on shares of United Bankshares from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Weiss Ratings restated a “buy (b)” rating on shares of United Bankshares in a report on Friday, October 2nd. Hovde Group raised their price target on shares of United Bankshares from $49.00 to $50.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. Wall Street Zen upgraded United Bankshares from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Keefe, Bruyette & Woods boosted their price objective on United Bankshares from $46.00 to $48.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.80.

United Bankshares Stock Up 0.8%

The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $6.22 billion, a P/E ratio of 12.45 and a beta of 0.72. The stock’s 50-day simple moving average is $47.53 and its 200-day simple moving average is $45.37.

United Bankshares (NASDAQ:UBSI) last posted 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. The firm had revenue of $323.82 million for the quarter, compared to analysts’ expectations of $320.07 million. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. During the same quarter last year, the firm earned $0.85 EPS. As a group, research analysts predict that United Bankshares, Inc. will post 3.72 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 11th were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $1.52 annualized dividend and a yield of 3.3%. United Bankshares’s payout ratio is currently 41.42%.

Insiders Place Their Bets

In other United Bankshares news, Director Mark Nesselroad sold 3,200 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $46.42, for a total value of $148,544.00. Following the completion of the transaction, the director owned 32,224 shares in the company, valued at $1,495,838.08. This represents a 9.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.16% of the company’s stock.

Hedge Funds Weigh In On United Bankshares

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Root Financial Partners LLC increased its holdings in United Bankshares by 64.4% during 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 during the last quarter. Allworth Financial LP bought a new position in shares of United Bankshares during the 2nd quarter valued at approximately $43,000. Nykredit A S bought a new position in shares of United Bankshares during the 2nd quarter valued at approximately $52,000. Integrated Wealth Concepts LLC purchased a new stake in shares of United Bankshares during the 2nd quarter worth approximately $68,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of United Bankshares by 153.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,681 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 1,019 shares during the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.

About United Bankshares

United Bankshares, Inc is a bank holding company headquartered in Charleston, West Virginia. Through its principal banking subsidiary, United Bank, the company provides community banking services to individuals, businesses and institutions.

United Bank offers a range of financial products, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, business loans and lines of credit. Its services also include mortgage banking, treasury management, wealth management, trust and investment services, and insurance-related products.

The company traces its history to 1839 and has expanded through organic growth and bank acquisitions.