United Bankshares (NASDAQ:UBSI) Cut to “Hold” at Zacks Research

Zacks Research lowered shares of United Bankshares (NASDAQ:UBSI) from a strong-buy rating to a hold rating in a research report released on Thursday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Piper Sandler reaffirmed an “overweight” rating and set a $47.00 price target on shares of United Bankshares in a research report on Monday, January 26th. Keefe, Bruyette & Woods increased their price objective on shares of United Bankshares from $40.00 to $43.00 and gave the stock a “market perform” rating in a research report on Monday, January 26th. Weiss Ratings raised shares of United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. Finally, Stephens lifted their target price on shares of United Bankshares from $40.00 to $44.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $44.67.

United Bankshares Trading Down 1.8%

Shares of UBSI stock opened at $40.36 on Thursday. The company has a market capitalization of $5.63 billion, a P/E ratio of 12.34 and a beta of 0.76. United Bankshares has a twelve month low of $30.50 and a twelve month high of $45.92. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $41.99 and its two-hundred day moving average is $39.15.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. The business had revenue of $430.85 million for the quarter, compared to analyst estimates of $315.50 million. United Bankshares had a return on equity of 8.60% and a net margin of 25.51%.During the same period in the previous year, the company posted $0.69 EPS. Equities analysts forecast that United Bankshares will post 2.81 EPS for the current year.

United Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, March 13th. United Bankshares’s dividend payout ratio (DPR) is presently 46.48%.

Hedge Funds Weigh In On United Bankshares

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ritholtz Wealth Management grew its holdings in United Bankshares by 2.6% during the 4th quarter. Ritholtz Wealth Management now owns 9,216 shares of the financial services provider’s stock worth $354,000 after acquiring an additional 237 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in United Bankshares by 24.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,492 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 292 shares during the last quarter. Kestra Private Wealth Services LLC raised its holdings in shares of United Bankshares by 1.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 27,609 shares of the financial services provider’s stock worth $1,060,000 after purchasing an additional 297 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of United Bankshares by 2.9% during the third quarter. Jones Financial Companies Lllp now owns 12,266 shares of the financial services provider’s stock worth $458,000 after purchasing an additional 343 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of United Bankshares by 13.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,844 shares of the financial services provider’s stock worth $106,000 after buying an additional 347 shares during the last quarter. Hedge funds and other institutional investors own 70.80% of the company’s stock.

United Bankshares Company Profile

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.