TheStreet cut shares of United Bankshares (NASDAQ:UBSI) from a b- rating to a c+ rating in a research note issued to investors on Wednesday morning.
Several other research analysts also recently weighed in on UBSI. BidaskClub raised United Bankshares from a sell rating to a hold rating in a research note on Wednesday, December 20th. Zacks Investment Research raised United Bankshares from a hold rating to a strong-buy rating and set a $41.00 target price for the company in a research note on Thursday, December 28th. Finally, Sandler O’Neill set a $38.00 target price on United Bankshares and gave the stock a hold rating in a research note on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $40.00.
Shares of UBSI stock opened at $34.50 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.04 and a quick ratio of 1.02. The company has a market cap of $3,611.63, a PE ratio of 18.16, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. United Bankshares has a 1-year low of $31.70 and a 1-year high of $42.40.
United Bankshares (NASDAQ:UBSI) last announced its earnings results on Tuesday, January 30th. The financial services provider reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The business had revenue of $187.62 million during the quarter, compared to the consensus estimate of $182.94 million. United Bankshares had a return on equity of 6.28% and a net margin of 19.93%. During the same period in the prior year, the company posted $0.51 EPS. sell-side analysts forecast that United Bankshares will post 2.48 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Friday, March 9th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend was Thursday, March 8th. United Bankshares’s dividend payout ratio is currently 71.58%.
In related news, Director Michael P. Fitzgerald sold 27,000 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $37.05, for a total value of $1,000,350.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter A. Converse sold 69,020 shares of the stock in a transaction on 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. Over the last three months, insiders sold 118,520 shares of company stock valued at $4,405,311. 6.23% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of United Bankshares by 42.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,765 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 1,712 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new stake in shares of United Bankshares in the 3rd quarter worth $216,000. Engineers Gate Manager LP acquired a new stake in shares of United Bankshares in the 3rd quarter worth $241,000. Tyers Asset Management LLC increased its stake in shares of United Bankshares by 32.8% in the 4th quarter. Tyers Asset Management LLC now owns 7,248 shares of the financial services provider’s stock worth $252,000 after acquiring an additional 1,792 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of United Bankshares in the 4th quarter worth $264,000. 68.83% of the stock is owned by hedge funds and other institutional investors.
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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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