Equities analysts expect that United Bankshares, Inc. (NASDAQ:UBSI) will announce earnings per share of $0.61 for the current quarter, Zacks reports. Three analysts have issued estimates for United Bankshares’ earnings. The highest EPS estimate is $0.62 and the lowest is $0.60. United Bankshares reported earnings of $0.37 per share in the same quarter last year, which would indicate a positive year over year growth rate of 64.9%. The firm is expected to announce its next earnings report on Thursday, July 26th.
On average, analysts expect that United Bankshares will report full year earnings of $2.46 per share for the current year, with EPS estimates ranging from $2.45 to $2.48. For the next year, analysts forecast that the business will report earnings of $2.60 per share, with EPS estimates ranging from $2.55 to $2.64. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for United Bankshares.
United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, April 26th. The financial services provider reported $0.59 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.59. United Bankshares had a net margin of 21.34% and a return on equity of 6.50%. The company had revenue of $176.74 million for the quarter, compared to the consensus estimate of $180.16 million. During the same period last year, the company posted $0.48 EPS. The firm’s quarterly revenue was up 36.7% compared to the same quarter last year.
UBSI has been the topic of a number of research analyst reports. ValuEngine downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Thursday, April 12th. BidaskClub downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Friday, March 2nd. DA Davidson cut their target price on shares of United Bankshares from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, April 27th. Finally, TheStreet upgraded shares of United Bankshares from a “c+” rating to a “b-” rating in a research report on Wednesday, February 21st. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. United Bankshares presently has a consensus rating of “Hold” and an average price target of $39.33.
In other United Bankshares news, Director Peter A. Converse sold 69,020 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $37.03, for a total transaction of $2,555,810.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter A. Converse sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $37.74, for a total transaction of $849,150.00. Following the transaction, the director now owns 491,810 shares of the company’s stock, valued at approximately $18,560,909.40. The disclosure for this sale can be found here. 5.15% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised 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 purchasing an additional 1,712 shares during the last quarter. Personal Capital Advisors Corp bought a new position in United Bankshares during the 1st quarter worth approximately $221,000. Tyers Asset Management LLC raised 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 purchasing an additional 1,792 shares during the last quarter. Virtu Financial LLC bought a new position in United Bankshares during the 4th quarter worth approximately $264,000. Finally, OppenheimerFunds Inc. raised its holdings in United Bankshares by 23.1% during the 4th quarter. OppenheimerFunds Inc. now owns 8,206 shares of the financial services provider’s stock worth $285,000 after purchasing an additional 1,542 shares during the last quarter. Hedge funds and other institutional investors own 68.78% of the company’s stock.
UBSI opened at $35.00 on Tuesday. United Bankshares has a 1-year low of $34.60 and a 1-year high of $35.20. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.01 and a current ratio of 1.03. The company has a market capitalization of $3.66 billion, a PE ratio of 18.42, a P/E/G ratio of 1.77 and a beta of 1.04.
United Bankshares Company Profile
United Bankshares, Inc, a financial holding company, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts.
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