United Bankshares, Inc. (NASDAQ:UBSI) Announces Quarterly Dividend of $0.38

Key Points

• United Bankshares declared a quarterly dividend of $0.38 per share, payable October 1 to shareholders of record on September 11. The dividend represents $1.52 annually and a yield of approximately 3.2%.
• The company has increased its dividend for 26 consecutive years, with a current payout ratio of 47.5%. Analysts expect future earnings to cover the dividend comfortably, projecting a payout ratio of 39.2% next year.
• United Bankshares reported quarterly EPS of $0.95, beating estimates of $0.89, while revenue of $323.82 million also exceeded expectations. Analysts maintain a consensus “Hold” rating with a target price of $47.80.

United Bankshares, Inc. (NASDAQ:UBSI - Get Free Report) declared a quarterly dividend on Monday, August 24th. Investors of record on Friday, September 11th will be given a dividend of 0.38 per share by the financial services provider on Thursday, October 1st. This represents a c) annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, September 11th.

United Bankshares has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 26 consecutive years. United Bankshares has a dividend payout ratio of 47.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect United Bankshares to earn $3.88 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 39.2%.

United Bankshares Stock Performance

NASDAQ UBSI opened at $47.80 on Tuesday. United Bankshares has a 52-week low of $34.10 and a 52-week high of $49.62. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.98. The company has a market capitalization of $6.51 billion, a P/E ratio of 13.02 and a beta of 0.71. The company has a fifty day moving average of $47.17 and a 200-day moving average of $44.30.

United Bankshares (NASDAQ:UBSI - Get Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.06. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. The company had revenue of $323.82 million during the quarter, compared to analyst estimates of $320.07 million. During the same period in the previous year, the business earned $0.85 earnings per share. As a group, equities research analysts predict that United Bankshares will post 3.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on UBSI shares. Hovde Group upped their price objective on United Bankshares from $49.00 to $50.00 and gave the stock a "market perform" rating in a report on Friday, July 24th. Keefe, Bruyette & Woods raised their price objective on United Bankshares from $46.00 to $48.00 and gave the company a "market perform" rating in a report on Monday, July 27th. Raymond James Financial boosted their target price on United Bankshares from $49.00 to $50.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. Wall Street Zen raised United Bankshares from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of United Bankshares in a research report on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, United Bankshares has an average rating of "Hold" and a consensus target price of $47.80.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source