United Bankshares (NASDAQ:UBSI) Hits New 1-Year High After Analyst Upgrade

United Bankshares, Inc. (NASDAQ:UBSI)’s stock price hit a new 52-week high during mid-day trading on Monday after Keefe, Bruyette & Woods raised their price target on the stock from $46.00 to $48.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. United Bankshares traded as high as $48.32 and last traded at $48.18, with a volume of 64790 shares changing hands. The stock had previously closed at $47.80.

A number of other equities analysts also recently weighed in on UBSI. Weiss Ratings reissued a “buy (b)” rating on shares of United Bankshares in a research report on Monday, July 6th. Wall Street Zen raised United Bankshares from a “sell” rating to a “hold” rating in a research report on Saturday. Raymond James Financial lifted their target price on United Bankshares from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Finally, Hovde Group boosted their target price on United Bankshares from $49.00 to $50.00 and gave the stock a “market perform” rating in a report on Friday. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $47.80.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd bought a new position in United Bankshares in the 3rd quarter valued at about $25,000. Eurizon Capital SGR S.p.A. acquired a new stake in United Bankshares during the fourth quarter worth approximately $26,000. Farther Finance Advisors LLC boosted its holdings in shares of United Bankshares by 196.2% during the fourth quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 567 shares during the period. Root Financial Partners LLC boosted its holdings in shares of United Bankshares by 64.4% during the first quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 308 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of United Bankshares by 528.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 988 shares during the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

United Bankshares Stock Up 0.3%

The firm has a 50-day moving average price of $45.21 and a 200 day moving average price of $43.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market cap of $6.61 billion, a price-to-earnings ratio of 13.06 and a beta of 0.71.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.06. The business had revenue of $323.82 million during the quarter, compared to analysts’ expectations of $320.07 million. United Bankshares had a return on equity of 9.39% and a net margin of 27.97%.During the same period last year, the firm posted $0.85 EPS. Sell-side analysts predict that United Bankshares, Inc. will post 3.65 EPS for the current year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Friday, June 12th. United Bankshares’s dividend payout ratio is currently 41.42%.

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.