United Bankshares (NASDAQ:UBSI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of United Bankshares (NASDAQ:UBSI) from a sell rating to a hold rating in a report issued on Saturday.

UBSI has been the topic of several other research reports. Raymond James Financial boosted their price target 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. Weiss Ratings reiterated a “buy (b)” rating on shares of United Bankshares in a research report on Monday, July 6th. Finally, Hovde Group lifted their price objective on shares of United Bankshares from $49.00 to $50.00 and gave the stock a “market perform” rating in a research note on Friday. Three equities research analysts have 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, United Bankshares presently has a consensus rating of “Hold” and an average target price of $47.80.

United Bankshares Stock Performance

NASDAQ:UBSI opened at $47.94 on Friday. The company has a market cap of $6.61 billion, a price-to-earnings ratio of 13.06 and a beta of 0.71. United Bankshares has a 1 year low of $34.10 and a 1 year high of $48.37. The stock’s 50 day simple moving average is $45.21 and its two-hundred day simple moving average is $43.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. United Bankshares had a return on equity of 9.39% and a net margin of 27.97%.The firm had revenue of $323.82 million during the quarter, compared to the consensus estimate of $320.07 million. During the same period in the prior year, the company earned $0.85 EPS. As a group, equities analysts anticipate that United Bankshares will post 3.65 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, June 12th. United Bankshares’s payout ratio is presently 41.42%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Revolve Wealth Partners LLC bought a new stake in shares of United Bankshares in the 2nd quarter worth about $351,000. Hennion & Walsh Asset Management Inc. bought a new position in United Bankshares during the 2nd quarter valued at about $226,000. GAMMA Investing LLC raised its position in United Bankshares by 21.7% in the 2nd quarter. GAMMA Investing LLC now owns 3,867 shares of the financial services provider’s stock worth $177,000 after purchasing an additional 690 shares during the period. Empowered Funds LLC raised its position in United Bankshares by 8.1% in the 1st quarter. Empowered Funds LLC now owns 5,336 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 402 shares during the period. Finally, Bank of America Corp DE raised its position in United Bankshares by 20.5% in the 1st quarter. Bank of America Corp DE now owns 1,631,894 shares of the financial services provider’s stock worth $67,593,000 after purchasing an additional 277,836 shares during the period. 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.