United Bankshares (NASDAQ:UBSI) Reaches New 52-Week High – Still a Buy?

United Bankshares, Inc. (NASDAQ:UBSI)’s share price reached a new 52-week high on Wednesday . The company traded as high as $46.59 and last traded at $46.6550, with a volume of 232861 shares changing hands. The stock had previously closed at $45.83.

Wall Street Analyst Weigh In

Several research firms have issued reports on UBSI. Wall Street Zen downgraded United Bankshares from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Zacks Research lowered United Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Hovde Group started coverage on United Bankshares in a research note on Wednesday, June 24th. They issued a “market perform” rating and a $49.00 target price for the company. Finally, Raymond James Financial lifted their target price on United Bankshares from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, United Bankshares has a consensus rating of “Hold” and an average price target of $46.60.

United Bankshares Trading Up 1.9%

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 stock has a market cap of $6.43 billion, a P/E ratio of 13.08 and a beta of 0.71. The stock has a 50-day moving average price of $43.87 and a 200-day moving average price of $42.30.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. The business had revenue of $316.58 million during the quarter, compared to analyst estimates of $315.15 million. United Bankshares had a net margin of 27.45% and a return on equity of 9.26%. During the same period in the previous year, the business posted $0.59 earnings per share. On average, equities research analysts expect that United Bankshares, Inc. will post 3.64 EPS for the current year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, June 12th. United Bankshares’s dividend payout ratio is presently 42.58%.

Institutional Trading of United Bankshares

Hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new position in United Bankshares during the third quarter valued at approximately $25,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of United Bankshares in the 4th quarter worth approximately $26,000. Farther Finance Advisors LLC boosted its stake in shares of United Bankshares by 196.2% in the 4th quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 567 shares in the last quarter. Root Financial Partners LLC grew its holdings in shares of United Bankshares by 64.4% during the 1st quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 308 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of United Bankshares by 528.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 988 shares during 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.