United Bankshares (NASDAQ:UBSI) Announces Quarterly Earnings Results

Key Points

• United Bankshares reported a quarterly EPS of $0.92, exceeding the consensus estimate of $0.82 by $0.10, and had a return on equity of 7.65% compared to $0.70 EPS in the same period last year.
• The firm declared a quarterly dividend of $0.37 per share, resulting in an annualized dividend of $1.48 and a yield of 4.2%.
• Recent stock activity shows United Bankshares down 0.3% at $35.32, with a market capitalization of $5.00 billion.

United Bankshares (NASDAQ:UBSI - Get Free Report) announced its quarterly earnings data on Thursday. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.82 by $0.10, Zacks reports. United Bankshares had a return on equity of 7.65% and a net margin of 23.14%.During the same period in the prior year, the firm posted $0.70 EPS.

United Bankshares Stock Down 0.3%

NASDAQ:UBSI traded down $0.11 during mid-day trading on Thursday, hitting $35.32. 112,673 shares of the company's stock traded hands, compared to its average volume of 754,459. The company has a fifty day moving average of $37.25 and a 200 day moving average of $36.25. United Bankshares has a twelve month low of $30.50 and a twelve month high of $44.43. The company has a market capitalization of $5.00 billion, a P/E ratio of 12.43 and a beta of 0.76. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98.

United Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Friday, September 12th. United Bankshares's dividend payout ratio is currently 52.30%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC increased its holdings in shares of United Bankshares by 4.6% in the fourth quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider's stock valued at $634,000 after purchasing an additional 748 shares during the period. Royal Bank of Canada increased its holdings in shares of United Bankshares by 2.0% in the first quarter. Royal Bank of Canada now owns 66,649 shares of the financial services provider's stock valued at $2,310,000 after purchasing an additional 1,298 shares during the period. Millennium Management LLC increased its holdings in shares of United Bankshares by 464.1% in the first quarter. Millennium Management LLC now owns 137,336 shares of the financial services provider's stock valued at $4,761,000 after purchasing an additional 112,988 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of United Bankshares by 7.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 409,428 shares of the financial services provider's stock valued at $14,195,000 after purchasing an additional 28,366 shares during the period. Finally, Jane Street Group LLC increased its holdings in shares of United Bankshares by 564.0% in the first quarter. Jane Street Group LLC now owns 182,540 shares of the financial services provider's stock valued at $6,329,000 after purchasing an additional 155,051 shares during the period. 70.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Zacks Research upgraded United Bankshares to a "hold" rating in a report on Friday, August 8th. Weiss Ratings cut United Bankshares from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $40.50.

United Bankshares Company Profile

United Bankshares, Inc, through its subsidiaries, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts.

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