United Bankshares (NASDAQ:UBSI) Downgraded to Hold Rating by Zacks Research

United Bankshares (NASDAQ:UBSI) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Other analysts have also issued reports about the company. Piper Sandler set a $42.50 price objective on United Bankshares and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of United Bankshares in a research note on Monday. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, United Bankshares presently has a consensus rating of “Hold” and a consensus price target of $41.83.

United Bankshares Stock Down 1.3%

Shares of UBSI opened at $39.53 on Monday. United Bankshares has a one year low of $30.50 and a one year high of $40.52. The company has a market cap of $5.55 billion, a P/E ratio of 12.96 and a beta of 0.81. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a 50 day simple moving average of $37.15 and a two-hundred day simple moving average of $37.06.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, October 23rd. The financial services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.10. United Bankshares had a return on equity of 8.15% and a net margin of 24.37%.The firm had revenue of $280.90 million for the quarter, compared to the consensus estimate of $307.78 million. During the same quarter last year, the business posted $0.70 EPS. Research analysts forecast that United Bankshares will post 2.81 EPS for the current fiscal year.

Institutional Investors Weigh In On United Bankshares

Several hedge funds have recently added to or reduced their stakes in UBSI. Dimensional Fund Advisors LP grew its holdings in United Bankshares by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 7,741,908 shares of the financial services provider’s stock worth $288,076,000 after acquiring an additional 24,631 shares during the last quarter. Earnest Partners LLC lifted its holdings in shares of United Bankshares by 0.4% during the first quarter. Earnest Partners LLC now owns 4,214,634 shares of the financial services provider’s stock worth $146,121,000 after purchasing an additional 15,498 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of United Bankshares by 1.2% during the third quarter. Victory Capital Management Inc. now owns 3,624,628 shares of the financial services provider’s stock worth $134,872,000 after purchasing an additional 42,255 shares during the period. Geode Capital Management LLC grew its stake in shares of United Bankshares by 3.2% in the second quarter. Geode Capital Management LLC now owns 3,590,552 shares of the financial services provider’s stock worth $130,817,000 after purchasing an additional 110,305 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in United Bankshares by 367.5% in the second quarter. First Trust Advisors LP now owns 1,935,979 shares of the financial services provider’s stock valued at $70,528,000 after purchasing an additional 1,521,864 shares during the period. 70.80% of the stock is currently owned by institutional investors and hedge funds.

United Bankshares Company Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.