United Bankshares (NASDAQ:UBSI) Raised to Strong-Buy at Zacks Research

United Bankshares (NASDAQ:UBSI) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research firms have also issued reports on UBSI. Keefe, Bruyette & Woods lifted their target price on shares of United Bankshares from $40.00 to $43.00 and gave the company a “market perform” rating in a report on Monday, January 26th. Piper Sandler reissued an “overweight” rating and issued a $47.00 target price on shares of United Bankshares in a research note on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of United Bankshares in a research report on Monday, December 29th. Finally, Stephens increased their price objective on shares of United Bankshares from $40.00 to $44.00 and gave the company an “equal weight” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, United Bankshares presently has an average rating of “Moderate Buy” and an average target price of $44.67.

United Bankshares Price Performance

Shares of United Bankshares stock opened at $43.98 on Monday. The company’s fifty day simple moving average is $39.87 and its two-hundred day simple moving average is $37.88. United Bankshares has a 12-month low of $30.50 and a 12-month high of $44.11. The firm has a market cap of $6.18 billion, a PE ratio of 13.45 and a beta of 0.78. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.10.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. United Bankshares had a net margin of 25.51% and a return on equity of 8.60%. The business had revenue of $430.85 million during the quarter, compared to analyst estimates of $315.50 million. During the same period in the prior year, the business earned $0.69 EPS. As a group, equities analysts expect that United Bankshares will post 2.81 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of UBSI. Norges Bank bought a new position in United Bankshares in the 2nd quarter worth $60,618,000. First Trust Advisors LP boosted its stake in shares of United Bankshares by 367.5% in the second quarter. First Trust Advisors LP now owns 1,935,979 shares of the financial services provider’s stock worth $70,528,000 after acquiring an additional 1,521,864 shares during the period. AQR Capital Management LLC grew its position in shares of United Bankshares by 65.5% during the third quarter. AQR Capital Management LLC now owns 930,252 shares of the financial services provider’s stock worth $34,615,000 after purchasing an additional 368,141 shares in the last quarter. JPMorgan Chase & Co. raised its stake in United Bankshares by 64.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 782,292 shares of the financial services provider’s stock valued at $29,109,000 after purchasing an additional 307,159 shares during the period. Finally, Verition Fund Management LLC lifted its holdings in United Bankshares by 89.5% in the 3rd quarter. Verition Fund Management LLC now owns 520,964 shares of the financial services provider’s stock worth $19,385,000 after purchasing an additional 246,006 shares in the last quarter. Institutional investors own 70.80% of the company’s stock.

About United Bankshares

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.