United Bankshares (NASDAQ:UBSI) Reaches New 12-Month High – Time to Buy?

United Bankshares, Inc. (NASDAQ:UBSI)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $41.28 and last traded at $41.10, with a volume of 4551 shares changing hands. The stock had previously closed at $37.75.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on UBSI. DA Davidson lifted their target price on shares of United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. StockNews.com lowered United Bankshares from a “hold” rating to a “sell” rating in a research note on Tuesday. Keefe, Bruyette & Woods raised their price target on United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Finally, Stephens lifted their price target on United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $40.25.

United Bankshares Trading Down 2.9 %

The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $5.59 billion, a PE ratio of 15.66 and a beta of 0.98. The stock’s fifty day moving average price is $37.39 and its two-hundred day moving average price is $35.38.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.03. United Bankshares had a return on equity of 7.58% and a net margin of 22.05%. The business had revenue of $414.67 million during the quarter, compared to analysts’ expectations of $260.30 million. During the same quarter last year, the business posted $0.71 EPS. Sell-side analysts anticipate that United Bankshares, Inc. will post 2.73 earnings per share for the current year.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend was Friday, September 13th. United Bankshares’s payout ratio is currently 56.06%.

Insiders Place Their Bets

In other news, Director Peter A. Converse sold 5,000 shares of United Bankshares stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $40.00, for a total transaction of $200,000.00. Following the sale, the director now owns 434,769 shares of the company’s stock, valued at approximately $17,390,760. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.66% of the company’s stock.

Institutional Investors Weigh In On United Bankshares

Several hedge funds have recently made changes to their positions in the company. UMB Bank n.a. lifted its position in United Bankshares by 237.6% during the third quarter. UMB Bank n.a. now owns 844 shares of the financial services provider’s stock valued at $31,000 after buying an additional 594 shares during the period. GAMMA Investing LLC lifted its position in United Bankshares by 253.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,545 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 1,108 shares during the period. New Covenant Trust Company N.A. bought a new stake in United Bankshares during the first quarter worth about $79,000. Innealta Capital LLC purchased a new stake in United Bankshares in the second quarter worth about $116,000. Finally, Marathon Strategic Advisors LLC bought a new position in shares of United Bankshares during the third quarter valued at approximately $206,000. 70.80% of the stock is currently owned by 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.