United Bankshares (NASDAQ:UBSI) Sets New 12-Month High – Here’s Why

United Bankshares, Inc. (NASDAQ:UBSI) shares reached a new 52-week high during trading on Thursday . The company traded as high as $41.05 and last traded at $41.0190, with a volume of 30388 shares changing hands. The stock had previously closed at $40.53.

Wall Street Analyst Weigh In

UBSI has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of United Bankshares in a research note on Monday, December 29th. Piper Sandler set a $42.50 target price on shares of United Bankshares and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Finally, Zacks Research downgraded United Bankshares from a “strong-buy” rating to a “hold” rating in a report on Monday, December 22nd. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $41.83.

United Bankshares Stock Performance

The company has a market capitalization of $5.80 billion, a PE ratio of 13.55 and a beta of 0.78. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. The company has a 50 day moving average price of $38.31 and a 200 day moving average price of $37.45.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.10. United Bankshares had a return on equity of 8.15% and a net margin of 24.37%.The business had revenue of $280.90 million during the quarter, compared to analyst estimates of $307.78 million. During the same quarter in the previous year, the firm posted $0.70 EPS. Equities analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 12th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, December 12th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from United Bankshares’s previous quarterly dividend of $0.37. United Bankshares’s dividend payout ratio (DPR) is presently 49.84%.

Hedge Funds Weigh In On United Bankshares

A number of hedge funds have recently modified their holdings of the stock. Jones Financial Companies Lllp boosted its holdings in shares of United Bankshares by 2.9% in the third quarter. Jones Financial Companies Lllp now owns 12,266 shares of the financial services provider’s stock worth $458,000 after buying an additional 343 shares during the period. GAMMA Investing LLC grew its position in United Bankshares by 13.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,844 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 347 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in United Bankshares by 14.9% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,699 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 351 shares in the last quarter. Lynx Investment Advisory raised its stake in United Bankshares by 3.5% during the 2nd quarter. Lynx Investment Advisory now owns 10,670 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 356 shares during the period. Finally, Braun Bostich & Associates Inc. raised its stake in United Bankshares by 4.4% during the 3rd quarter. Braun Bostich & Associates Inc. now owns 9,256 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 387 shares during the period. 70.80% of the stock is currently owned by institutional investors and hedge funds.

United Bankshares Company Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.