United Bankshares (NASDAQ:UBSI) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of United Bankshares (NASDAQ:UBSI) from a sell rating to a hold rating in a report issued on Wednesday morning.

A number of other equities analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Stephens lifted their target price on United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Finally, DA Davidson boosted their target price on United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $40.25.

United Bankshares Stock Performance

United Bankshares stock opened at $42.54 on Wednesday. United Bankshares has a 52 week low of $30.68 and a 52 week high of $43.77. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average price of $37.71 and a 200 day moving average price of $35.63. The firm has a market capitalization of $5.75 billion, a P/E ratio of 16.11 and a beta of 0.98.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.03. The company had revenue of $414.67 million during the quarter, compared to analyst estimates of $260.30 million. United Bankshares had a net margin of 22.05% and a return on equity of 7.58%. During the same quarter in the prior year, the business earned $0.71 earnings per share. Equities research analysts anticipate that United Bankshares will post 2.73 earnings per share for the current year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, December 13th. This represents a $1.48 annualized dividend and a yield of 3.48%. United Bankshares’s dividend payout ratio is 56.06%.

Insider Transactions at United Bankshares

In related news, Director Peter A. Converse sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $40.00, for a total transaction of $200,000.00. Following the sale, the director now directly owns 434,769 shares in the company, valued at $17,390,760. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.66% of the company’s stock.

Hedge Funds Weigh In On United Bankshares

A number of hedge funds and other institutional investors have recently bought and sold shares of UBSI. BNP Paribas Financial Markets boosted its stake in shares of United Bankshares by 73.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 50,953 shares of the financial services provider’s stock worth $1,890,000 after buying an additional 21,520 shares during the last quarter. FMR LLC grew its position in United Bankshares by 292.0% in the third quarter. FMR LLC now owns 82,997 shares of the financial services provider’s stock valued at $3,079,000 after acquiring an additional 61,822 shares during the last quarter. Advantage Alpha Capital Partners LP lifted its stake in shares of United Bankshares by 40.6% in the 3rd quarter. Advantage Alpha Capital Partners LP now owns 13,690 shares of the financial services provider’s stock valued at $508,000 after acquiring an additional 3,952 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of United Bankshares by 40.9% during the third quarter. Brown Brothers Harriman & Co. now owns 7,941 shares of the financial services provider’s stock valued at $295,000 after acquiring an additional 2,307 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of United Bankshares in the 3rd quarter worth approximately $268,000. 70.80% of the stock is owned by institutional investors.

About United Bankshares

United Bankshares, Inc, through its subsidiaries, 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.