Zacks Investment Research Lowers United Bankshares (UBSI) to Hold

United Bankshares (NASDAQ:UBSI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “United Bankshares, Inc. is a bank holding company whose business is the operation of its bank subsidiaries. All of United’s subsidiary banks are full-service commercial banks. Included among the banking services offered are the acceptance of deposits in checking, savings, time and money market accounts; the making and servicing of personal, commercial, floor plan and student loans; and the making of construction and real estate loans. Also offered are individual retirement accounts, safe deposit boxes, wire transfers and other standard banking products and services. “

Other equities research analysts have also issued research reports about the company. Sandler O’Neill set a $38.00 target price on United Bankshares and gave the company a “hold” rating in a research note on Thursday, January 4th. BidaskClub raised United Bankshares from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Finally, Boenning Scattergood reissued a “hold” rating on shares of United Bankshares in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. United Bankshares currently has an average rating of “Hold” and a consensus target price of $42.25.

United Bankshares (UBSI) remained flat at $$37.05 during mid-day trading on Wednesday. 1,012,800 shares of the stock traded hands, compared to its average volume of 724,493. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.42. United Bankshares has a one year low of $31.70 and a one year high of $46.35. The firm has a market cap of $3,889.97, a price-to-earnings ratio of 23.75, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Tuesday, January 30th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. United Bankshares had a return on equity of 6.28% and a net margin of 19.93%. The business had revenue of $187.62 million during the quarter, compared to analyst estimates of $182.94 million. During the same quarter last year, the firm earned $0.51 earnings per share. research analysts anticipate that United Bankshares will post 2.49 earnings per share for the current fiscal year.

In related news, Director Michael P. Fitzgerald sold 27,000 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $37.05, for a total value of $1,000,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter A. Converse sold 69,020 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $37.03, for a total value of $2,555,810.60. The disclosure for this sale can be found here. Corporate insiders own 6.23% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in UBSI. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in United Bankshares by 42.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,765 shares of the financial services provider’s stock worth $200,000 after buying an additional 1,712 shares during the last quarter. Chicago Partners Investment Group LLC bought a new position in United Bankshares during the 3rd quarter worth approximately $216,000. Engineers Gate Manager LP bought a new position in United Bankshares during the 3rd quarter worth approximately $241,000. Cubist Systematic Strategies LLC bought a new position in United Bankshares during the 2nd quarter worth approximately $248,000. Finally, Tyers Asset Management LLC lifted its holdings in United Bankshares by 32.8% during the 4th quarter. Tyers Asset Management LLC now owns 7,248 shares of the financial services provider’s stock worth $252,000 after buying an additional 1,792 shares during the last quarter. 67.78% of the stock is currently owned by institutional investors.

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United Bankshares Company Profile

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.

Analyst Recommendations for United Bankshares (NASDAQ:UBSI)

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