United Bankshares (NASDAQ:UBSI) Stock Rating Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded United Bankshares from “sell” to “hold.” The broader analyst consensus is also “Hold,” with three Buy ratings, four Hold ratings, and an average price target of $49.20.
• UBSI shares opened at $48.22, near their 52-week high of $49.62, with a market capitalization of $6.57 billion and a P/E ratio of 13.07.
• United Bankshares reported quarterly EPS of $0.94, narrowly exceeding the $0.93 consensus estimate, while revenue of $325.1 million came in below expectations of $327.23 million. Institutional investors own approximately 70.8% of the stock.

United Bankshares (NASDAQ:UBSI - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

UBSI has been the topic of several other reports. Piper Sandler upped their price objective on shares of United Bankshares from $51.00 to $54.00 and gave the company an "overweight" rating in a report on Monday, October 26th. Keefe, Bruyette & Woods raised their target price on shares of United Bankshares from $46.00 to $48.00 and gave the stock a "market perform" rating in a research note on Monday, July 27th. Hovde Group lifted their target price on shares of United Bankshares from $49.00 to $50.00 and gave the stock a "market perform" rating in a report on Friday, July 24th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of United Bankshares in a research note on Friday, October 2nd. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $49.20.

United Bankshares Price Performance

UBSI opened at $48.22 on Friday. The stock has a market capitalization of $6.57 billion, a P/E ratio of 13.07 and a beta of 0.72. United Bankshares has a one year low of $34.68 and a one year high of $49.62. The company's 50 day simple moving average is $47.05 and its 200-day simple moving average is $44.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.97 and a quick ratio of 0.97.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.93 by $0.01. United Bankshares had a net margin of 28.03% and a return on equity of 9.37%. The firm had revenue of $325.10 million for the quarter, compared to analysts' expectations of $327.23 million. During the same period in the previous year, the firm posted $0.92 EPS. Sell-side analysts anticipate that United Bankshares will post 3.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other United Bankshares news, Director Mark Nesselroad sold 3,200 shares of the company's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $46.42, for a total value of $148,544.00. Following the transaction, the director directly owned 32,224 shares of the company's stock, valued at $1,495,838.08. This represents a 9.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On United Bankshares

A number of institutional investors have recently modified their holdings of the business. Root Financial Partners LLC raised its holdings in United Bankshares by 64.4% in the 1st quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider's stock valued at $33,000 after buying an additional 308 shares during the last quarter. Allworth Financial LP bought a new stake in United Bankshares during the 2nd quarter worth approximately $43,000. Nykredit A S bought a new stake in United Bankshares during the 2nd quarter worth approximately $52,000. Farther Finance Advisors LLC grew its holdings in United Bankshares by 49.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,355 shares of the financial services provider's stock worth $62,000 after acquiring an additional 448 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in United Bankshares in the 2nd quarter valued at approximately $68,000. Institutional investors own 70.80% of the company's stock.

United Bankshares Company Profile

United Bankshares, Inc is a financial holding company that operates through its subsidiary, United Bank. The company provides a broad range of banking and financial services to individuals, businesses, nonprofit organizations and government entities.

United Bank's offerings include checking and savings accounts, certificates of deposit, residential and commercial real estate lending, consumer loans, commercial and industrial financing, treasury management and online and mobile banking.

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