United Bankshares (NASDAQ:UBSI) Rating Lowered to Hold (C+) at Weiss Ratings

Key Points

• United Bankshares has been downgraded from a "buy (b-)" to a "hold (c+)" rating by Weiss Ratings, reflecting analysts' reduced confidence in its stock performance.
• Despite the downgrade, Zacks Research has maintained a "hold" rating, resulting in an average stock rating of "Hold" with a price target of $40.50.
• In its latest earnings report, United Bankshares posted an EPS of $0.85, exceeding expectations and indicating a positive performance compared to the previous year's $0.71 EPS.

United Bankshares (NASDAQ:UBSI - Get Free Report) was downgraded by analysts at Weiss Ratings from a "buy (b-)" rating to a "hold (c+)" rating in a research note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Zacks Research raised United Bankshares to a "hold" rating in a research note on Friday, August 8th. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $40.50.

United Bankshares Stock Performance

Shares of United Bankshares stock traded up $0.14 on Wednesday, reaching $37.25. 583,515 shares of the company traded hands, compared to its average volume of 655,149. United Bankshares has a 52 week low of $30.50 and a 52 week high of $44.43. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $5.28 billion, a PE ratio of 13.16 and a beta of 0.76. The company has a 50 day moving average of $37.29 and a 200 day moving average of $36.15.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.08. United Bankshares had a net margin of 23.14% and a return on equity of 7.65%. The business had revenue of $306.00 million during the quarter, compared to analysts' expectations of $297.98 million. During the same period in the previous year, the company earned $0.71 earnings per share. Equities analysts forecast that United Bankshares will post 2.81 earnings per share for the current year.

Institutional Trading of United Bankshares

Several hedge funds have recently made changes to their positions in UBSI. Brighton Jones LLC boosted its position in United Bankshares by 4.6% during the fourth quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider's stock worth $634,000 after acquiring an additional 748 shares during the last quarter. GAMMA Investing LLC lifted its holdings in United Bankshares by 3,462.3% in the 1st quarter. GAMMA Investing LLC now owns 81,683 shares of the financial services provider's stock valued at $2,832,000 after acquiring an additional 79,390 shares during the last quarter. UMB Bank n.a. increased its holdings in United Bankshares by 207.7% in the first quarter. UMB Bank n.a. now owns 2,597 shares of the financial services provider's stock worth $90,000 after buying an additional 1,753 shares during the last quarter. Capital Investment Advisors LLC bought a new stake in shares of United Bankshares in the first quarter valued at approximately $604,000. Finally, Farther Finance Advisors LLC boosted its stake in United Bankshares by 726.5% during the first quarter. Farther Finance Advisors LLC now owns 967 shares of the financial services provider's stock worth $33,000 after buying an additional 850 shares in the last quarter. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

About United Bankshares

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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