United Bankshares (NASDAQ:UBSI) Sets New 52-Week High After Analyst Upgrade

Key Points

• United Bankshares shares hit a new 52-week high of $48.32 after Wall Street Zen upgraded the stock from “sell” to “hold.” Analysts’ overall consensus remains “Hold,” with an average price target of $46.80.
• The company exceeded quarterly expectations, reporting $0.95 in earnings per share versus the $0.89 consensus estimate, while revenue reached $323.82 million compared with $320.07 million expected.
• United Bankshares recently paid a quarterly dividend of $0.38 per share, equivalent to an annualized $1.52 dividend and a 3.1% yield; institutional investors own 70.8% of outstanding shares.

United Bankshares, Inc. (NASDAQ:UBSI - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The stock traded as high as $48.32 and last traded at $48.18, with a volume of 64790 shares. The stock had previously closed at $47.80.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of United Bankshares in a report on Monday, July 6th. Raymond James Financial increased 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. Finally, Hovde Group raised 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. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $46.80.

Institutional Trading of United Bankshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in UBSI. Caitong International Asset Management Co. Ltd bought a new position in United Bankshares in the 3rd quarter worth approximately $25,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of United Bankshares during the fourth quarter valued at approximately $26,000. Farther Finance Advisors LLC raised its position in shares of United Bankshares by 196.2% during the fourth quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider's stock valued at $33,000 after buying an additional 567 shares during the last quarter. Root Financial Partners LLC lifted its holdings in shares of United Bankshares by 64.4% in the first quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider's stock worth $33,000 after buying an additional 308 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of United Bankshares by 528.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider's stock worth $43,000 after buying an additional 988 shares in the last quarter. Institutional investors own 70.80% of the company's stock.

United Bankshares Trading Up 1.0%

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 stock's 50-day moving average is $45.10 and its two-hundred day moving average is $43.23. The stock has a market cap of $6.65 billion, a P/E ratio of 13.15 and a beta of 0.71.

United Bankshares (NASDAQ:UBSI - Get Free Report) last posted its 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 company had revenue of $323.82 million during 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 period last year, the company posted $0.85 earnings per share. Equities research analysts anticipate that United Bankshares, Inc. will post 3.65 EPS for the current year.

United Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were given a dividend of $0.38 per share. The ex-dividend date was Friday, June 12th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.1%. United Bankshares's dividend payout ratio (DPR) is presently 41.42%.

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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