United Bankshares, Inc. (NASDAQ:UBSI) has been given a consensus recommendation of “Hold” by the six ratings firms that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $31.89.
A number of analysts recently commented on UBSI shares. Zacks Investment Research lowered United Bankshares from a “buy” rating to a “hold” rating in a research report on Thursday, June 17th. Raymond James restated an “outperform” rating and set a $34.67 target price (down from $42.00) on shares of United Bankshares in a research report on Monday, July 26th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Silvercrest Asset Management Group LLC raised its position in United Bankshares by 102.9% during the 2nd quarter. Silvercrest Asset Management Group LLC now owns 3,274,777 shares of the financial services provider’s stock valued at $119,530,000 after purchasing an additional 1,660,650 shares during the last quarter. BlackRock Inc. grew its holdings in shares of United Bankshares by 8.7% during the 1st quarter. BlackRock Inc. now owns 18,073,606 shares of the financial services provider’s stock worth $697,280,000 after acquiring an additional 1,450,593 shares during the period. State Street Corp grew its holdings in shares of United Bankshares by 6.1% during the 2nd quarter. State Street Corp now owns 11,429,620 shares of the financial services provider’s stock worth $421,157,000 after acquiring an additional 656,694 shares during the period. Vanguard Group Inc. grew its holdings in shares of United Bankshares by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 12,679,482 shares of the financial services provider’s stock worth $462,801,000 after acquiring an additional 315,165 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of United Bankshares by 11.3% during the 1st quarter. Geode Capital Management LLC now owns 2,218,532 shares of the financial services provider’s stock worth $85,590,000 after acquiring an additional 224,850 shares during the period. 66.31% of the stock is owned by institutional investors.
United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings data on Thursday, July 22nd. The financial services provider reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The firm had revenue of $249.36 million during the quarter, compared to analyst estimates of $264.95 million. United Bankshares had a return on equity of 9.20% and a net margin of 32.88%. Analysts predict that United Bankshares will post 2.75 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Friday, September 10th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend is Thursday, September 9th. United Bankshares’s payout ratio is 58.33%.
About United Bankshares
United Bankshares, Inc is a bank holding company, which engages in the provision of commercial and retail banking services and products. It operates through the following segments: Community Banking, Mortgage Banking, and Other. The Community segments consists of both commercial and consumer lending and provides customers with such products as commercial loans, real estate loans, business financing and consumer loans.
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