United Bankshares’ (UBSI) “Underperform” Rating Reiterated at Boenning Scattergood
United Bankshares Inc. (NASDAQ:UBSI)‘s stock had its “underperform” rating reissued by investment analysts at Boenning Scattergood in a report issued on Thursday.
A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research raised United Bankshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 2nd. Keefe, Bruyette & Woods increased their price target on United Bankshares from $36.00 to $38.00 and gave the stock a “market perform” rating in a research report on Monday, August 22nd.
United Bankshares (NASDAQ:UBSI) traded down 0.56% during midday trading on Thursday, reaching $44.45. The company’s stock had a trading volume of 107,037 shares. The firm has a market capitalization of $3398.42 billion, a PE ratio of 22.68 and a beta of 0.89. The stock has a 50 day moving average of $38.47 and a 200 day moving average of $38.28. United Bankshares has a 52 week low of $32.22 and a 52 week high of $46.25.
United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, October 27th. The financial services provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. United Bankshares had a return on equity of 7.55% and a net margin of 27.02%. During the same period in the previous year, the business posted $0.50 earnings per share. On average, equities research analysts predict that United Bankshares will post $1.99 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 9th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $1.32 dividend on an annualized basis and a yield of 2.95%. United Bankshares’s payout ratio is 67.35%.
In other news, Director Michael P. Fitzgerald sold 79,586 shares of the firm’s stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $45.06, for a total value of $3,586,145.16. Following the transaction, the director now directly owns 272,067 shares in the company, valued at approximately $12,259,339.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter A. Converse sold 21,000 shares of the firm’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $44.92, for a total value of $943,320.00. Following the completion of the transaction, the director now owns 598,882 shares in the company, valued at $26,901,779.44. The disclosure for this sale can be found here. 7.50% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Fund Advisors raised its position in United Bankshares by 6.3% in the third quarter. BlackRock Fund Advisors now owns 7,927,272 shares of the financial services provider’s stock valued at $298,620,000 after buying an additional 467,351 shares in the last quarter. Vanguard Group Inc. raised its position in United Bankshares by 3.0% in the second quarter. Vanguard Group Inc. now owns 5,270,813 shares of the financial services provider’s stock valued at $197,708,000 after buying an additional 155,011 shares in the last quarter. Ameriprise Financial Inc. raised its position in United Bankshares by 19.1% in the third quarter. Ameriprise Financial Inc. now owns 2,843,836 shares of the financial services provider’s stock valued at $107,276,000 after buying an additional 455,437 shares in the last quarter. Dimensional Fund Advisors LP raised its position in United Bankshares by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,121,465 shares of the financial services provider’s stock valued at $79,573,000 after buying an additional 18,058 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in United Bankshares by 4.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,744,328 shares of the financial services provider’s stock valued at $65,709,000 after buying an additional 76,360 shares in the last quarter. Institutional investors and hedge funds own 53.92% of the company’s stock.
About United Bankshares
United Bankshares, Inc (United) is a bank holding company. The Company has approximately two banking subsidiaries (the Banking Subsidiaries) doing business under the name of United Bank, one operating under the laws of West Virginia referred to as United Bank (WV) and the other operating under the laws of Virginia referred to as United Bank (VA).
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