United Bankshares (NASDAQ:UBSI) Price Target Raised to $39.00

United Bankshares (NASDAQ:UBSI) had its price objective upped by Stephens from $36.00 to $39.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

A number of other research firms have also issued reports on UBSI. Keefe, Bruyette & Woods increased their price target on United Bankshares from $38.00 to $40.00 and gave the company a market perform rating in a research report on Friday. DA Davidson boosted their price target on shares of United Bankshares from $36.00 to $41.00 and gave the company a neutral rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $39.20.

United Bankshares Stock Up 2.6 %

Shares of NASDAQ:UBSI opened at $39.32 on Friday. United Bankshares has a 12-month low of $25.35 and a 12-month high of $39.86. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of 15.01 and a beta of 1.00. The business has a 50-day moving average price of $33.09 and a 200 day moving average price of $34.17. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.36.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.07. The firm had revenue of $255.94 million for the quarter, compared to the consensus estimate of $255.54 million. United Bankshares had a return on equity of 7.77% and a net margin of 22.44%. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 EPS. Sell-side analysts expect that United Bankshares will post 2.61 EPS for the current year.

United Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were paid a $0.37 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.48 annualized dividend and a dividend yield of 3.76%. United Bankshares’s dividend payout ratio (DPR) is currently 56.49%.

Hedge Funds Weigh In On United Bankshares

Several institutional investors have recently bought and sold shares of UBSI. Linden Thomas Advisory Services LLC lifted its stake in shares of United Bankshares by 1.5% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 21,419 shares of the financial services provider’s stock worth $804,000 after acquiring an additional 310 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in United Bankshares by 5.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,587 shares of the financial services provider’s stock valued at $214,000 after purchasing an additional 350 shares during the period. Retirement Systems of Alabama boosted its holdings in United Bankshares by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 168,997 shares of the financial services provider’s stock valued at $6,346,000 after purchasing an additional 517 shares in the last quarter. State of Michigan Retirement System raised its stake in shares of United Bankshares by 1.9% during the 1st quarter. State of Michigan Retirement System now owns 33,013 shares of the financial services provider’s stock worth $1,182,000 after buying an additional 600 shares in the last quarter. Finally, Anchor Capital Advisors LLC raised its stake in shares of United Bankshares by 1.3% during the 1st quarter. Anchor Capital Advisors LLC now owns 51,205 shares of the financial services provider’s stock worth $1,833,000 after buying an additional 645 shares in the last quarter. 70.80% of the stock is owned by institutional investors and hedge funds.

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.