United Bankshares (NASDAQ:UBSI) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of United Bankshares (NASDAQ:UBSI) from a sell rating to a hold rating in a research note published on Sunday morning,Wall Street Zen reports.

Other analysts have also issued reports about the company. Piper Sandler lifted their price target on United Bankshares from $51.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, October 26th. Keefe, Bruyette & Woods boosted their price objective on United Bankshares from $46.00 to $48.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Hovde Group upped their price objective on United Bankshares from $49.00 to $50.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of United Bankshares in a research report on Friday, October 2nd. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $49.20.

United Bankshares Price Performance

United Bankshares stock opened at $48.22 on Friday. The business has a 50-day moving average of $47.05 and a 200-day moving average of $44.77. United Bankshares has a 1 year low of $34.68 and a 1 year high of $49.62. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $6.57 billion, a P/E ratio of 13.07 and a beta of 0.72.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, October 22nd. The financial services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.93 by $0.01. The business had revenue of $325.10 million during the quarter, compared to analysts’ expectations of $327.23 million. United Bankshares had a net margin of 28.03% and a return on equity of 9.37%. During the same quarter in the prior year, the company posted $0.92 earnings per share. On average, equities analysts anticipate that United Bankshares will post 3.74 EPS for the current year.

United Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 11th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Friday, September 11th. United Bankshares’s payout ratio is presently 41.19%.

Insider Transactions at United Bankshares

In related news, Director Mark Nesselroad sold 3,200 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $46.42, for a total value of $148,544.00. Following the completion of the sale, the director directly owned 32,224 shares in the company, valued at approximately $1,495,838.08. The trade was a 9.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.16% of the company’s stock.

Hedge Funds Weigh In On United Bankshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in United Bankshares in the 2nd quarter valued at approximately $925,212,000. Dimensional Fund Advisors LP grew its position in United Bankshares by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 7,661,331 shares of the financial services provider’s stock valued at $317,327,000 after purchasing an additional 56,808 shares in the last quarter. Bank of America Corp DE raised its stake in shares of United Bankshares by 20.5% during the 1st quarter. Bank of America Corp DE now owns 1,631,894 shares of the financial services provider’s stock worth $67,593,000 after purchasing an additional 277,836 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in United Bankshares in the 2nd quarter valued at $60,968,000. Finally, First Trust Advisors LP lifted its stake in shares of United Bankshares by 7.5% in the first quarter. First Trust Advisors LP now owns 570,961 shares of the financial services provider’s stock valued at $23,649,000 after buying an additional 39,712 shares during the period. 70.80% of the stock is currently owned by institutional investors and hedge funds.

United Bankshares Company Profile

United Bankshares, Inc is a financial holding company that operates through its subsidiary, United Bank. The company provides a broad range of banking and financial services to individuals, businesses, nonprofit organizations and government entities.

United Bank’s offerings include checking and savings accounts, certificates of deposit, residential and commercial real estate lending, consumer loans, commercial and industrial financing, treasury management and online and mobile banking.