United Bankshares (NASDAQ:UBSI – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The brokerage presently has a $38.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 7.31% from the company’s current price.
According to Zacks, “United Bankshares, Inc. is a bank holding company whose business is the operation of its bank subsidiaries. All of United’s subsidiary banks are full-service commercial banks. Included among the banking services offered are the acceptance of deposits in checking, savings, time and money market accounts; the making and servicing of personal, commercial, floor plan and student loans; and the making of construction and real estate loans. Also offered are individual retirement accounts, safe deposit boxes, wire transfers and other standard banking products and services. “
Separately, StockNews.com lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, March 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $38.67.
United Bankshares (NASDAQ:UBSI – Get Rating) last posted its quarterly earnings data on Thursday, January 27th. The financial services provider reported $0.56 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.05). The firm had revenue of $237.73 million for the quarter, compared to the consensus estimate of $245.16 million. United Bankshares had a return on equity of 8.23% and a net margin of 34.26%. During the same quarter last year, the firm earned $0.71 EPS. On average, equities research analysts predict that United Bankshares will post 2.56 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of UBSI. United Capital Financial Advisers LLC boosted its holdings in United Bankshares by 1.0% during the third quarter. United Capital Financial Advisers LLC now owns 37,845 shares of the financial services provider’s stock worth $1,377,000 after buying an additional 391 shares in the last quarter. First Bank & Trust boosted its stake in shares of United Bankshares by 15.6% during the 4th quarter. First Bank & Trust now owns 3,143 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 425 shares in the last quarter. Heritage Wealth Management LLC boosted its stake in shares of United Bankshares by 17.7% during the 3rd quarter. Heritage Wealth Management LLC now owns 2,839 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 426 shares in the last quarter. Connable Office Inc. boosted its stake in shares of United Bankshares by 4.1% during the 4th quarter. Connable Office Inc. now owns 12,846 shares of the financial services provider’s stock worth $466,000 after acquiring an additional 507 shares in the last quarter. Finally, Synovus Financial Corp boosted its stake in shares of United Bankshares by 2.9% during the 4th quarter. Synovus Financial Corp now owns 19,911 shares of the financial services provider’s stock worth $726,000 after acquiring an additional 552 shares in the last quarter. 68.17% of the stock is currently owned by hedge funds and other institutional investors.
United Bankshares Company Profile (Get Rating)
United Bankshares, Inc, a financial holding company, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, NOW accounts, and interest-bearing checking accounts.
- Get a free copy of the StockNews.com research report on United Bankshares (UBSI)
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