StockNews.com Upgrades United Bankshares (NASDAQ:UBSI) to Hold

United Bankshares (NASDAQ:UBSIGet Rating) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other analysts have also issued reports on the stock. Janney Montgomery Scott started coverage on shares of United Bankshares in a research report on Tuesday, September 6th. They set a “buy” rating and a $40.00 price target on the stock. Raymond James dropped their price target on shares of United Bankshares from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, July 7th. Finally, DA Davidson reaffirmed a “neutral” rating on shares of United Bankshares in a research report on Wednesday, July 27th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, United Bankshares has a consensus rating of “Hold” and a consensus price target of $39.00.

United Bankshares Stock Performance

Shares of UBSI opened at $37.84 on Wednesday. United Bankshares has a 12 month low of $31.95 and a 12 month high of $40.85. The firm has a fifty day simple moving average of $37.64 and a 200 day simple moving average of $36.03. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 14.67 and a beta of 1.10. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.18.

United Bankshares (NASDAQ:UBSIGet Rating) last announced its earnings results on Thursday, July 28th. The financial services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.63 by $0.08. United Bankshares had a net margin of 33.26% and a return on equity of 7.53%. During the same quarter in the previous year, the business earned $0.73 earnings per share. Research analysts forecast that United Bankshares will post 2.73 EPS for the current fiscal year.

Hedge Funds Weigh In On United Bankshares

Large investors have recently modified their holdings of the stock. First Horizon Advisors Inc. bought a new position in shares of United Bankshares in the second quarter valued at about $31,000. Artemis Wealth Advisors LLC bought a new position in United Bankshares during the second quarter worth about $33,000. Godsey & Gibb Associates bought a new position in United Bankshares during the first quarter worth about $37,000. Exchange Traded Concepts LLC bought a new position in United Bankshares during the first quarter worth about $40,000. Finally, Massmutual Trust Co. FSB ADV bought a new position in United Bankshares during the first quarter worth about $53,000. 69.61% of the stock is owned by institutional investors.

United Bankshares Company Profile

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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.

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