Brokerages Anticipate United Bankshares, Inc. (UBSI) Will Post Quarterly Sales of $182.94 Million
Analysts expect United Bankshares, Inc. (NASDAQ:UBSI) to report $182.94 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for United Bankshares’ earnings, with the lowest sales estimate coming in at $179.25 million and the highest estimate coming in at $186.26 million. United Bankshares reported sales of $129.91 million during the same quarter last year, which indicates a positive year over year growth rate of 40.8%. The firm is expected to issue its next earnings results on Tuesday, January 30th.
According to Zacks, analysts expect that United Bankshares will report full year sales of $182.94 million for the current fiscal year, with estimates ranging from $676.33 million to $685.45 million. For the next fiscal year, analysts forecast that the company will post sales of $749.18 million per share, with estimates ranging from $739.13 million to $764.51 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow United Bankshares.
United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.01). United Bankshares had a net margin of 24.94% and a return on equity of 6.25%. The firm had revenue of $188.51 million for the quarter, compared to analysts’ expectations of $193.87 million. During the same period last year, the firm posted $0.54 EPS. United Bankshares’s revenue was up 44.9% on a year-over-year basis.
A number of equities research analysts have issued reports on UBSI shares. Boenning Scattergood reissued a “hold” rating on shares of United Bankshares in a research report on Friday, October 27th. Zacks Investment Research raised United Bankshares from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $44.50.
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United Bankshares (NASDAQ:UBSI) traded down $0.05 during mid-day trading on Friday, reaching $35.60. The company’s stock had a trading volume of 467,415 shares, compared to its average volume of 772,400. United Bankshares has a 1 year low of $31.70 and a 1 year high of $49.35. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.06. The stock has a market capitalization of $3,721.98, a P/E ratio of 18.66, a PEG ratio of 1.85 and a beta of 1.03.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Thursday, December 7th. This is an increase from United Bankshares’s previous quarterly dividend of $0.33. United Bankshares’s payout ratio is 69.47%.
United Bankshares declared that its Board of Directors has approved a share buyback program on Monday, August 28th that authorizes the company to buyback 2,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
In related news, Director Gary G. White acquired 1,000 shares of United Bankshares stock in a transaction on Monday, September 11th. The shares were bought at an average price of $33.33 per share, for a total transaction of $33,330.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 6.23% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the business. Oppenheimer Asset Management Inc. lifted its stake in shares of United Bankshares by 0.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 33,113 shares of the financial services provider’s stock worth $1,298,000 after purchasing an additional 182 shares in the last quarter. Sandy Spring Bank lifted its stake in shares of United Bankshares by 1.7% during the second quarter. Sandy Spring Bank now owns 16,272 shares of the financial services provider’s stock worth $638,000 after purchasing an additional 277 shares in the last quarter. TD Asset Management Inc. lifted its stake in shares of United Bankshares by 1.4% during the second quarter. TD Asset Management Inc. now owns 21,635 shares of the financial services provider’s stock worth $848,000 after purchasing an additional 300 shares in the last quarter. Palladium Partners LLC lifted its stake in shares of United Bankshares by 5.8% during the second quarter. Palladium Partners LLC now owns 17,271 shares of the financial services provider’s stock worth $677,000 after purchasing an additional 947 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of United Bankshares by 1.3% during the second quarter. Janney Montgomery Scott LLC now owns 79,371 shares of the financial services provider’s stock worth $3,111,000 after purchasing an additional 1,028 shares in the last quarter. Institutional investors own 62.77% of the company’s stock.
About United Bankshares
United Bankshares, Inc (United) is a bank holding company. The Company operates through community banking segment. United’s Banking Subsidiaries offer a range of commercial and retail banking services and products. United, through its subsidiaries, engages in community banking and offers banking products and services permitted by law and regulation.
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