Brokerages Set United Bankshares, Inc. (NASDAQ:UBSI) PT at $47.80

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

A number of research analysts have weighed in on UBSI shares. Raymond James Financial raised their target price on shares of United Bankshares from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Keefe, Bruyette & Woods increased their price target on United Bankshares from $46.00 to $48.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Hovde Group increased 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. Wall Street Zen upgraded United Bankshares from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of United Bankshares in a research note on Monday, July 6th.

United Bankshares Price Performance

Shares of NASDAQ UBSI opened at $49.08 on Thursday. The firm has a 50-day simple moving average of $46.01 and a 200-day simple moving average of $43.72. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $6.76 billion, a price-to-earnings ratio of 13.37 and a beta of 0.71. United Bankshares has a 52 week low of $34.10 and a 52 week high of $49.62.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. The firm had revenue of $323.82 million for the quarter, compared to analyst estimates of $320.07 million. During the same period in the previous year, the business posted $0.85 earnings per share. On average, equities analysts predict that United Bankshares will post 3.71 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, June 12th. United Bankshares’s payout ratio is currently 41.42%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of UBSI. Caitong International Asset Management Co. Ltd purchased a new position in United Bankshares during the third quarter worth about $25,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of United Bankshares in the 4th quarter valued at approximately $26,000. Root Financial Partners LLC grew its stake in shares of United Bankshares by 64.4% in the 1st quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider’s stock valued at $33,000 after buying an additional 308 shares during the period. Farther Finance Advisors LLC grew 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 buying an additional 567 shares during the period. Finally, EverSource Wealth Advisors LLC increased 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 worth $43,000 after buying an additional 988 shares during the last quarter. Institutional investors and hedge funds 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.