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

Key Points

• United Bankshares shares rose above their 200-day moving average, trading as high as $47.11 and last changing hands at $46.69, up 1.1% on the day.
• Analyst sentiment is mixed: the stock has three Buy ratings and four Holds, with a consensus rating of Hold and an average price target of $46.60.
• The company reported solid recent results and pays a dividend, posting $0.89 EPS on revenue of $316.58 million in its latest quarter and declaring a quarterly dividend of $0.38 per share, or $1.52 annualized for a 3.3% yield.

Shares of United Bankshares, Inc. (NASDAQ:UBSI - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $42.80 and traded as high as $47.11. United Bankshares shares last traded at $46.69, with a volume of 1,014,420 shares.

Wall Street Analyst Weigh In

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

United Bankshares Stock Up 1.1%

The stock has a market cap of $6.43 billion, a P/E ratio of 13.08 and a beta of 0.71. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10. The company has a 50-day simple moving average of $44.42 and a two-hundred day simple moving average of $42.80.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.04. United Bankshares had a net margin of 27.45% and a return on equity of 9.26%. The firm had revenue of $316.58 million for the quarter, compared to analysts' expectations of $315.15 million. During the same quarter last year, the business earned $0.59 earnings per share. On average, equities analysts forecast that United Bankshares, Inc. will post 3.64 EPS for the current year.

United Bankshares Announces Dividend

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

Hedge Funds Weigh In On United Bankshares

A number of hedge funds have recently modified their holdings of the company. Norges Bank purchased a new position in United Bankshares during the 4th quarter valued at about $68,366,000. Vaughan Nelson Investment Management L.P. bought a new position in United Bankshares during the 1st quarter valued at approximately $34,476,000. AQR Capital Management LLC lifted its holdings in United Bankshares by 74.7% in the 4th quarter. AQR Capital Management LLC now owns 1,625,205 shares of the financial services provider's stock worth $62,408,000 after buying an additional 694,953 shares during the period. Goldman Sachs Group Inc. lifted its holdings in United Bankshares by 75.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,177,051 shares of the financial services provider's stock worth $45,199,000 after buying an additional 504,986 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of United Bankshares by 64.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 782,292 shares of the financial services provider's stock worth $29,109,000 after buying an additional 307,159 shares during the last quarter. Hedge funds and other institutional investors own 70.80% of the company's stock.

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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