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

United Bankshares, Inc. (NASDAQ:UBSI)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $41.76 and last traded at $41.92, with a volume of 93705 shares changing hands. The stock had previously closed at $40.46.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on UBSI shares. Zacks Research lowered United Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of United Bankshares in a research report on Monday, December 29th. Finally, 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. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $41.83.

United Bankshares Trading Down 0.1%

The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10. The stock has a market cap of $6.00 billion, a P/E ratio of 14.02 and a beta of 0.78. The business’s 50 day simple moving average is $38.91 and its two-hundred day simple moving average is $37.61.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. United Bankshares had a return on equity of 8.15% and a net margin of 24.37%.The company had revenue of $430.85 million for the quarter, compared to the consensus estimate of $315.50 million. During the same period in the previous year, the business earned $0.69 EPS. As a group, analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, December 12th were paid a $0.38 dividend. The ex-dividend date was Friday, December 12th. This represents a $1.52 annualized dividend and a yield of 3.6%. This is a boost from United Bankshares’s previous quarterly dividend of $0.37. United Bankshares’s dividend payout ratio is currently 49.84%.

Institutional Trading of United Bankshares

A number of institutional investors have recently made changes to their positions in UBSI. Regent Peak Wealth Advisors LLC acquired a new stake in shares of United Bankshares in the third quarter valued at $1,886,000. Y Intercept Hong Kong Ltd purchased a new stake in United Bankshares during the second quarter worth about $378,000. Commonwealth Financial Services LLC lifted its position in shares of United Bankshares by 521.5% during the third quarter. Commonwealth Financial Services LLC now owns 37,248 shares of the financial services provider’s stock worth $1,386,000 after purchasing an additional 31,255 shares in the last quarter. Truist Financial Corp boosted its stake in shares of United Bankshares by 81.8% in the second quarter. Truist Financial Corp now owns 22,375 shares of the financial services provider’s stock valued at $815,000 after purchasing an additional 10,069 shares during the period. Finally, Pacer Advisors Inc. acquired a new position in shares of United Bankshares in the third quarter valued at approximately $936,000. Hedge funds and other institutional investors own 70.80% of the company’s stock.

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.