Zacks Research Downgrades United Bankshares (NASDAQ:UBSI) to Hold

United Bankshares (NASDAQ:UBSI) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

Several other brokerages have also issued reports on UBSI. Weiss Ratings raised shares of United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. Stephens increased their price target on United Bankshares from $40.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Piper Sandler reiterated an “overweight” rating and set a $47.00 price objective on shares of United Bankshares in a report on Monday, January 26th. Finally, Keefe, Bruyette & Woods boosted their price objective on United Bankshares from $40.00 to $43.00 and gave the company a “market perform” rating in a research report on Monday, January 26th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $44.67.

United Bankshares Stock Performance

Shares of UBSI stock opened at $40.36 on Thursday. The stock has a market cap of $5.63 billion, a PE ratio of 12.34 and a beta of 0.76. The stock has a 50-day moving average of $41.99 and a 200-day moving average of $39.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.99 and a quick ratio of 0.98. United Bankshares has a one year low of $30.50 and a one year high of $45.92.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.91 earnings per share 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 for the quarter, compared to analyst estimates of $315.50 million. During the same quarter last year, the firm earned $0.69 EPS. As a group, sell-side analysts expect that United Bankshares will post 2.81 earnings per share for the current year.

Institutional Investors Weigh In On United Bankshares

Several institutional investors have recently bought and sold shares of UBSI. Caitong International Asset Management Co. Ltd acquired a new position in United Bankshares during the 3rd quarter worth approximately $25,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of United Bankshares in the fourth quarter valued at approximately $26,000. Bogart Wealth LLC lifted its position in shares of United Bankshares by 655.4% in the third quarter. Bogart Wealth LLC now owns 763 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 662 shares in the last quarter. Rothschild Investment LLC boosted its holdings in United Bankshares by 174.8% during the third quarter. Rothschild Investment LLC now owns 838 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 533 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in United Bankshares by 196.2% in the fourth 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. 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.