United Bankshares (UBSI) Upgraded to “Strong-Buy” by Zacks Investment Research
United Bankshares (NASDAQ:UBSI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Saturday. The brokerage currently has a $42.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.82% from the company’s previous close.
According to Zacks, “United Bankshares, Inc. is a bank holding company whose business is the operation of its bank subsidiaries. All of United’s subsidiary banks are full-service commercial banks. Included among the banking services offered are the acceptance of deposits in checking, savings, time and money market accounts; the making and servicing of personal, commercial, floor plan and student loans; and the making of construction and real estate loans. Also offered are individual retirement accounts, safe deposit boxes, wire transfers and other standard banking products and services. “
UBSI has been the subject of several other reports. BidaskClub raised United Bankshares from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Sandler O’Neill set a $38.00 price objective on United Bankshares and gave the company a “hold” rating in a report on Thursday, January 4th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of United Bankshares in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a strong buy rating to the company’s stock. United Bankshares currently has a consensus rating of “Hold” and a consensus price target of $42.25.
United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.01). The company had revenue of $188.51 million during the quarter, compared to analyst estimates of $193.87 million. United Bankshares had a net margin of 24.94% and a return on equity of 6.25%. United Bankshares’s revenue was up 44.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 earnings per share. equities research analysts anticipate that United Bankshares will post 1.9 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC acquired a new position in shares of United Bankshares during the 2nd quarter worth $135,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of United Bankshares by 62.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,053 shares of the financial services provider’s stock worth $159,000 after buying an additional 1,563 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in shares of United Bankshares by 102.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,678 shares of the financial services provider’s stock worth $223,000 after buying an additional 2,878 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new position in shares of United Bankshares during the 3rd quarter worth $216,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of United Bankshares during the 2nd quarter worth $248,000. 65.51% of the stock is owned by institutional investors.
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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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