United Bankshares (NASDAQ:UBSI) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• United Bankshares shares crossed above their 200-day moving average, reaching $46.73 before closing at $46.06, compared with the moving average of $45.33.
• Analyst sentiment remains mixed, with three Buy ratings and four Holds; the average rating is “Hold” and the consensus price target is $47.80.
• The company exceeded quarterly earnings expectations, reporting $0.95 EPS versus $0.89 expected, and maintains a quarterly dividend of $0.38 per share, implying a 3.3% annual yield.

United Bankshares, Inc. (NASDAQ:UBSI - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $45.33 and traded as high as $46.73. United Bankshares shares last traded at $46.06, with a volume of 777,255 shares changing hands.

Wall Street Analysts Forecast Growth

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

United Bankshares Stock Performance

The business has a fifty day moving average of $47.60 and a 200 day moving average of $45.33. The company has a market cap of $6.27 billion, a P/E ratio of 12.55 and a beta of 0.72. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.10.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.06. The business had revenue of $323.82 million for the quarter, compared to analysts' expectations of $320.07 million. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. During the same quarter in the previous year, the business posted $0.85 earnings per share. On average, equities analysts predict that United Bankshares, Inc. will post 3.72 EPS for the current year.

United Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 11th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.3%. United Bankshares's payout ratio is presently 41.42%.

Insider Buying and Selling at United Bankshares

In related news, Director Mark Nesselroad sold 3,200 shares of the business's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $46.42, for a total transaction of $148,544.00. Following the transaction, the director owned 32,224 shares in the company, valued at $1,495,838.08. The trade was a 9.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.16% of the company's stock.

Institutional Trading of United Bankshares

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC bought a new stake in United Bankshares during the 2nd quarter valued at approximately $703,000. Integrated Wealth Concepts LLC bought a new position in shares of United Bankshares in the 2nd quarter worth approximately $68,000. NewEdge Advisors LLC raised its position in shares of United Bankshares by 0.9% in the 2nd quarter. NewEdge Advisors LLC now owns 36,324 shares of the financial services provider's stock worth $1,665,000 after acquiring an additional 330 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of United Bankshares by 4.6% in the 2nd quarter. IFP Advisors Inc now owns 11,852 shares of the financial services provider's stock valued at $543,000 after purchasing an additional 517 shares during the period. Finally, Squarepoint Ops LLC lifted its stake in shares of United Bankshares by 51.3% in the 2nd quarter. Squarepoint Ops LLC now owns 62,405 shares of the financial services provider's stock valued at $2,860,000 after purchasing an additional 21,158 shares during the period. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

About United Bankshares

United Bankshares, Inc is a bank holding company headquartered in Charleston, West Virginia. Through its principal banking subsidiary, United Bank, the company provides community banking services to individuals, businesses and institutions.

United Bank offers a range of financial products, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, business loans and lines of credit. Its services also include mortgage banking, treasury management, wealth management, trust and investment services, and insurance-related products.

The company traces its history to 1839 and has expanded through organic growth and bank acquisitions.

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