Keefe, Bruyette & Woods Issues Positive Forecast for United Bankshares (NASDAQ:UBSI) Stock Price

United Bankshares (NASDAQ:UBSI) had its price objective increased by Keefe, Bruyette & Woods from $40.00 to $43.00 in a research note published on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Other research analysts have also recently issued reports about the stock. Piper Sandler restated an “overweight” rating and issued a $47.00 price objective on shares of United Bankshares in a research report on Monday. Weiss Ratings reiterated a “hold (c+)” rating on shares of United Bankshares in a research report on Monday, December 29th. Stephens increased their price target on shares of United Bankshares from $40.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Zacks Research cut shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 22nd. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, United Bankshares currently has a consensus rating of “Hold” and an average price target of $44.67.

United Bankshares Trading Down 0.2%

Shares of UBSI stock opened at $41.38 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 12.65 and a beta of 0.78. United Bankshares has a 52-week low of $30.50 and a 52-week high of $43.78. The company has a 50-day simple moving average of $39.15 and a two-hundred day simple moving average of $37.66.

United Bankshares (NASDAQ:UBSI) last posted 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. The business had revenue of $430.85 million for the quarter, compared to analysts’ expectations of $315.50 million. United Bankshares had a return on equity of 8.60% and a net margin of 25.51%.During the same quarter in the previous year, the firm earned $0.69 earnings per share. Research analysts anticipate that United Bankshares will post 2.81 EPS for the current fiscal year.

United Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.7%. The ex-dividend date was Friday, December 12th. This is a positive change from United Bankshares’s previous quarterly dividend of $0.37. United Bankshares’s dividend payout ratio is 46.48%.

Institutional Investors Weigh In On United Bankshares

A number of large investors have recently made changes to their positions in the business. Regent Peak Wealth Advisors LLC bought a new stake in shares of United Bankshares in the 3rd quarter valued at about $1,886,000. Y Intercept Hong Kong Ltd purchased a new position in United Bankshares during the second quarter valued at approximately $378,000. Commonwealth Financial Services LLC increased its holdings in United Bankshares by 521.5% during the third quarter. Commonwealth Financial Services LLC now owns 37,248 shares of the financial services provider’s stock valued at $1,386,000 after buying an additional 31,255 shares during the period. Truist Financial Corp raised its stake in United Bankshares by 81.8% in the second quarter. Truist Financial Corp now owns 22,375 shares of the financial services provider’s stock worth $815,000 after buying an additional 10,069 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in United Bankshares during the third quarter worth $936,000. 70.80% of the stock is currently owned by institutional investors.

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.