United Bankshares, Inc. (NASDAQ:UBSI) Stock Now Rated “Hold” by Wall Street Brokerages

Shares of United Bankshares, Inc. (NASDAQ:UBSI) have received an average recommendation of “Hold” from the seven analysts that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $47.80.

Several equities research analysts have issued reports on the company. Hovde Group raised their price target on United Bankshares from $49.00 to $50.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of United Bankshares in a research report on Friday, October 2nd. Keefe, Bruyette & Woods raised their target price on United Bankshares from $46.00 to $48.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Wall Street Zen upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Raymond James Financial lifted their target price on shares of United Bankshares from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st.

Insiders Place Their Bets

In other United Bankshares news, Director Mark Nesselroad sold 3,200 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $46.42, for a total transaction of $148,544.00. Following the completion of the sale, the director owned 32,224 shares in the company, valued at approximately $1,495,838.08. The trade was a 9.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.16% of the company’s stock.

Hedge Funds Weigh In On United Bankshares

Hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in United Bankshares in the 2nd quarter worth $925,212,000. Dimensional Fund Advisors LP boosted its position in shares of United Bankshares by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,661,331 shares of the financial services provider’s stock valued at $317,327,000 after acquiring an additional 56,808 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of United Bankshares by 20.5% in the first quarter. Bank of America Corp DE now owns 1,631,894 shares of the financial services provider’s stock valued at $67,593,000 after purchasing an additional 277,836 shares in the last quarter. Bank of New York Mellon Corp lifted its position in United Bankshares by 0.8% during the first quarter. Bank of New York Mellon Corp now owns 1,362,254 shares of the financial services provider’s stock valued at $56,425,000 after purchasing an additional 10,646 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in shares of United Bankshares in the 1st quarter worth about $34,476,000. Institutional investors own 70.80% of the company’s stock.

United Bankshares Trading Down 0.8%

Shares of NASDAQ UBSI opened at $46.33 on Tuesday. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 12.62 and a beta of 0.72. United Bankshares has a twelve month low of $34.68 and a twelve month high of $49.62. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.10. The company’s fifty day moving average is $47.11 and its 200-day moving average is $45.67.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.06. The company had revenue of $323.82 million during the quarter, compared to analysts’ expectations of $320.07 million. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. During the same quarter in the prior year, the company earned $0.85 earnings per share. Equities research analysts predict that United Bankshares will post 3.72 EPS for the current year.

United Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 11th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, September 11th. United Bankshares’s dividend payout ratio is presently 41.42%.

United Bankshares Company Profile

United Bankshares, Inc is a financial holding company that operates through its subsidiary, United Bank. The company provides a broad range of banking and financial services to individuals, businesses, nonprofit organizations and government entities.

United Bank’s offerings include checking and savings accounts, certificates of deposit, residential and commercial real estate lending, consumer loans, commercial and industrial financing, treasury management and online and mobile banking.