United Bankshares (NASDAQ:UBSI) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of United Bankshares (NASDAQ:UBSI) from a sell rating to a hold rating in a report published on Wednesday.

UBSI has been the subject of a number of other reports. 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 report on Friday, July 26th. Stephens upped their target price on shares of United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Finally, DA Davidson increased their price objective on United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $40.25.

United Bankshares Trading Down 0.2 %

NASDAQ:UBSI opened at $42.22 on Wednesday. United Bankshares has a 12 month low of $30.68 and a 12 month high of $43.77. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11. The firm’s 50 day moving average is $37.92 and its 200 day moving average is $35.74. The stock has a market capitalization of $5.71 billion, a PE ratio of 15.99 and a beta of 0.98.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results 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. The company had revenue of $414.67 million during the quarter, compared to the consensus estimate of $260.30 million. United Bankshares had a return on equity of 7.58% and a net margin of 22.05%. During the same quarter in the prior year, the company earned $0.71 EPS. Sell-side analysts expect that United Bankshares will post 2.73 earnings per share for the current year.

United Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.48 annualized dividend and a yield of 3.51%. 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 that occurred on Wednesday, November 6th. The stock was sold at an average price of $40.00, for a total value of $200,000.00. Following the sale, the director now directly owns 434,769 shares in the company, valued at approximately $17,390,760. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.66% of the company’s stock.

Institutional Trading of United Bankshares

Several large investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its position in shares of United Bankshares by 237.6% in the 3rd quarter. UMB Bank n.a. now owns 844 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 594 shares during the period. GAMMA Investing LLC boosted 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 in the last quarter. New Covenant Trust Company N.A. bought a new position in shares of United Bankshares in the 1st quarter worth approximately $79,000. Innealta Capital LLC purchased a new position in shares of United Bankshares in the 2nd quarter valued at approximately $116,000. Finally, Marathon Strategic Advisors LLC bought a new stake in shares of United Bankshares during the third quarter valued at approximately $206,000. Institutional investors own 70.80% of the company’s stock.

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.