United Bankshares (NASDAQ:UBSI) Given Neutral Rating at Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of United Bankshares (NASDAQ:UBSI) in a research report released on Wednesday morning, MarketBeat Ratings reports. They currently have a $38.50 target price on the financial services provider’s stock.

A number of other analysts have also recently commented on UBSI. Stephens reaffirmed an “equal weight” rating and issued a $43.00 price target on shares of United Bankshares in a research note on Monday, January 27th. StockNews.com cut United Bankshares from a “hold” rating to a “sell” rating in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods lowered their price target on United Bankshares from $46.00 to $45.00 and set a “market perform” rating for the company in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $41.88.

United Bankshares Stock Performance

Shares of UBSI stock opened at $34.22 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $4.90 billion, a PE ratio of 12.49 and a beta of 0.98. The stock has a 50-day moving average of $37.26 and a 200-day moving average of $38.30. United Bankshares has a one year low of $30.68 and a one year high of $44.43.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. During the same period in the previous year, the firm posted $0.59 earnings per share. As a group, sell-side analysts expect that United Bankshares will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 4.32%. United Bankshares’s payout ratio is 54.01%.

Insider Buying and Selling

In related news, Director Mark R. Nesselroad sold 6,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $39.16, for a total transaction of $234,960.00. Following the completion of the sale, the director now directly owns 35,424 shares of the company’s stock, valued at approximately $1,387,203.84. This represents a 14.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On United Bankshares

A number of large investors have recently bought and sold shares of the company. Investment Management Corp VA ADV acquired a new position in United Bankshares during the 4th quarter worth approximately $96,000. GTS Securities LLC acquired a new position in United Bankshares during the 4th quarter worth approximately $317,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in United Bankshares by 52.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 381,062 shares of the financial services provider’s stock worth $14,309,000 after acquiring an additional 130,444 shares during the last quarter. Systematic Financial Management LP boosted its position in United Bankshares by 2.2% during the 4th quarter. Systematic Financial Management LP now owns 399,732 shares of the financial services provider’s stock worth $15,010,000 after acquiring an additional 8,704 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in United Bankshares during the 4th quarter worth approximately $93,000. Institutional investors and hedge funds own 70.80% of the company’s stock.

United Bankshares Company Profile

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.