Wall Street analysts expect that United Bankshares, Inc. (NASDAQ:UBSI) will report $184.65 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for United Bankshares’ earnings, with the highest sales estimate coming in at $186.20 million and the lowest estimate coming in at $182.28 million. United Bankshares reported sales of $176.75 million in the same quarter last year, which indicates a positive year over year growth rate of 4.5%. The business is scheduled to issue its next quarterly earnings results on Thursday, July 26th.
According to Zacks, analysts expect that United Bankshares will report full-year sales of $738.52 million for the current fiscal year, with estimates ranging from $731.59 million to $743.03 million. For the next financial year, analysts forecast that the firm will report sales of $769.67 million per share, with estimates ranging from $758.78 million to $779.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow United Bankshares.
United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, April 26th. The financial services provider reported $0.59 EPS for the quarter, hitting analysts’ consensus estimates of $0.59. The firm had revenue of $176.74 million during the quarter, compared to the consensus estimate of $180.16 million. United Bankshares had a net margin of 21.34% and a return on equity of 6.50%. The company’s revenue was up 36.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.48 earnings per share.
UBSI has been the subject of a number of analyst reports. BidaskClub downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Friday, March 2nd. Zacks Investment Research downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Thursday, April 12th. TheStreet upgraded shares of United Bankshares from a “c+” rating to a “b-” rating in a research note on Wednesday, June 6th. ValuEngine downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, DA Davidson lowered their target price on shares of United Bankshares from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, April 27th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $39.33.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UBSI. Schwab Charles Investment Management Inc. boosted its stake in United Bankshares by 6.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 601,083 shares of the financial services provider’s stock valued at $20,888,000 after acquiring an additional 36,496 shares in the last quarter. SG Americas Securities LLC acquired a new position in United Bankshares in the fourth quarter valued at $883,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in United Bankshares by 42.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,765 shares of the financial services provider’s stock valued at $200,000 after acquiring an additional 1,712 shares in the last quarter. Comerica Bank boosted its stake in United Bankshares by 4.0% in the fourth quarter. Comerica Bank now owns 91,774 shares of the financial services provider’s stock valued at $3,304,000 after acquiring an additional 3,511 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in United Bankshares by 315.7% in the fourth quarter. Teacher Retirement System of Texas now owns 34,210 shares of the financial services provider’s stock valued at $1,189,000 after acquiring an additional 25,980 shares in the last quarter. Institutional investors own 70.12% of the company’s stock.
Shares of United Bankshares traded up $0.40, reaching $38.15, on Wednesday, MarketBeat Ratings reports. 653,200 shares of the stock were exchanged, compared to its average volume of 617,642. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.40. The company has a market cap of $3.90 billion, a P/E ratio of 20.08, a PEG ratio of 1.89 and a beta of 1.05. United Bankshares has a twelve month low of $31.70 and a twelve month high of $40.65.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 8th will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, June 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.56%. United Bankshares’s payout ratio is currently 71.58%.
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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