United Bankshares, Inc. (NASDAQ:UBSI) issued its earnings results on Wednesday. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01), MarketWatch Earnings reports. United Bankshares had a return on equity of 6.42% and a net margin of 25.20%. The firm had revenue of $188.51 million during the quarter, compared to analyst estimates of $193.87 million. During the same period in the previous year, the company earned $0.54 EPS. United Bankshares’s revenue for the quarter was up 44.9% on a year-over-year basis.
Shares of United Bankshares (UBSI) traded up 0.68% during trading on Thursday, reaching $37.00. The company’s stock had a trading volume of 697,731 shares. United Bankshares has a 12-month low of $31.70 and a 12-month high of $49.35. The stock’s 50-day moving average is $36.07 and its 200-day moving average is $37.27. The stock has a market cap of $3.88 billion, a P/E ratio of 19.80 and a beta of 1.07.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were issued a $0.33 dividend. The ex-dividend date was Thursday, September 7th. This represents a $1.32 dividend on an annualized basis and a yield of 3.57%. United Bankshares’s payout ratio is presently 69.47%.
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In related news, Director Gary G. White acquired 1,000 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were purchased at an average price of $33.33 per share, for a total transaction of $33,330.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter A. Converse acquired 3,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was bought at an average price of $33.15 per share, for a total transaction of $99,450.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 15,247 shares of company stock valued at $510,526. Corporate insiders own 6.23% of the company’s stock.
A number of equities analysts have issued reports on UBSI shares. BidaskClub raised United Bankshares from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Zacks Investment Research cut United Bankshares from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. United Bankshares presently has a consensus rating of “Hold” and an average target price of $42.50.
United Bankshares declared that its Board of Directors has initiated a share repurchase program on Monday, August 28th that permits the company to repurchase 2,000,000 shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
About United Bankshares
United Bankshares, Inc (United) is a bank holding company. The Company operates through community banking segment. United’s Banking Subsidiaries offer a range of commercial and retail banking services and products. United, through its subsidiaries, engages in community banking and offers banking products and services permitted by law and regulation.
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