United Bankshares (NASDAQ:UBSI) Announces Quarterly Earnings Results

Key Points

• United Bankshares reported quarterly EPS of $0.95, topping analysts’ consensus estimate of $0.89 by $0.06 and improving from $0.85 per share in the same quarter last year.
• The bank also continued paying dividends, issuing a quarterly payout of $0.38 per share, or $1.52 annualized, which works out to a 3.3% yield.
• Analyst sentiment remains mixed: the stock has a Hold consensus rating with an average price target of $46.60, while recent calls ranged from Sell to Outperform.

United Bankshares (NASDAQ:UBSI - Get Free Report) issued its quarterly earnings data on Thursday. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.06, Briefing.com reports. United Bankshares had a return on equity of 9.26% and a net margin of 27.45%.During the same quarter in the previous year, the firm earned $0.85 earnings per share.

United Bankshares Price Performance

UBSI traded down $0.38 during midday trading on Thursday, hitting $46.53. The company had a trading volume of 483,589 shares, compared to its average volume of 952,634. United Bankshares has a twelve month low of $34.10 and a twelve month high of $48.22. The company has a market capitalization of $6.41 billion, a PE ratio of 13.04 and a beta of 0.71. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. The firm's 50-day simple moving average is $44.88 and its 200-day simple moving average is $43.11.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, June 12th. United Bankshares's dividend payout ratio (DPR) is presently 42.58%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Zacks Research cut shares of United Bankshares from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 26th. Weiss Ratings restated a "buy (b)" rating on shares of United Bankshares in a research report on Monday, July 6th. Raymond James Financial upped their price objective on shares of United Bankshares from $49.00 to $50.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 1st. Wall Street Zen cut shares of United Bankshares from a "hold" rating to a "sell" rating in a research note on Saturday, June 13th. Finally, Hovde Group started coverage on United Bankshares in a report on Wednesday, June 24th. They issued a "market perform" rating and a $49.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $46.60.

Hedge Funds Weigh In On United Bankshares

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brighton Jones LLC grew its position in shares of United Bankshares by 4.6% in the 4th 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. Abel Hall LLC acquired a new position in shares of United Bankshares in the fourth quarter valued at approximately $278,000. Vise Technologies Inc. increased its position in shares of United Bankshares by 38.7% during the fourth quarter. Vise Technologies Inc. now owns 8,093 shares of the financial services provider's stock worth $311,000 after acquiring an additional 2,259 shares in the last quarter. Polymer Capital Management HK LTD bought a new stake in shares of United Bankshares during the third quarter worth $245,000. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of United Bankshares by 19.1% during the third quarter. Mercer Global Advisors Inc. ADV now owns 8,985 shares of the financial services provider's stock worth $334,000 after acquiring an additional 1,440 shares during the period. 70.80% of the stock is owned by institutional investors.

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.

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