United Bankshares, Inc. (NASDAQ:UBSI) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of United Bankshares, Inc. (NASDAQ:UBSI) have been given an average recommendation of “Moderate Buy” by the five ratings firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $44.6667.

Several equities research analysts recently issued reports on UBSI shares. Zacks Research raised shares of United Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Monday. Stephens raised their target price on United Bankshares from $40.00 to $44.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Keefe, Bruyette & Woods raised their price objective on United Bankshares from $40.00 to $43.00 and gave the company a “market perform” rating in a research note on Monday, January 26th. Weiss Ratings restated a “hold (c+)” rating on shares of United Bankshares in a report on Monday, December 29th. Finally, Piper Sandler reiterated an “overweight” rating and set a $47.00 price target on shares of United Bankshares in a report on Monday, January 26th.

Institutional Investors Weigh In On United Bankshares

A number of hedge funds have recently bought and sold shares of UBSI. Norges Bank bought a new position in shares of United Bankshares in the second quarter worth about $60,618,000. First Trust Advisors LP grew its holdings in United Bankshares by 367.5% in the 2nd quarter. First Trust Advisors LP now owns 1,935,979 shares of the financial services provider’s stock valued at $70,528,000 after buying an additional 1,521,864 shares during the last quarter. AQR Capital Management LLC increased its position in United Bankshares by 65.5% in the 3rd quarter. AQR Capital Management LLC now owns 930,252 shares of the financial services provider’s stock worth $34,615,000 after buying an additional 368,141 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of United Bankshares by 64.6% during the third quarter. JPMorgan Chase & Co. now owns 782,292 shares of the financial services provider’s stock worth $29,109,000 after buying an additional 307,159 shares during the last quarter. Finally, Verition Fund Management LLC boosted its position in shares of United Bankshares by 89.5% in the third quarter. Verition Fund Management LLC now owns 520,964 shares of the financial services provider’s stock valued at $19,385,000 after acquiring an additional 246,006 shares during the period. 70.80% of the stock is currently owned by institutional investors.

United Bankshares Trading Up 1.7%

NASDAQ:UBSI opened at $44.71 on Thursday. The stock’s 50 day moving average price is $40.01 and its 200 day moving average price is $37.92. United Bankshares has a 52 week low of $30.50 and a 52 week high of $45.18. The company has a market capitalization of $6.28 billion, a P/E ratio of 13.67 and a beta of 0.78. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.99 and a current ratio of 0.99.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Thursday, January 22nd. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. United Bankshares had a net margin of 25.51% and a return on equity of 8.60%. The firm had revenue of $430.85 million during the quarter, compared to analysts’ expectations of $315.50 million. During the same period in the previous year, the company earned $0.69 earnings per share. On average, research analysts forecast that United Bankshares will post 2.81 EPS for the current fiscal year.

United Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Friday, December 12th. This is a boost from United Bankshares’s previous quarterly dividend of $0.37. United Bankshares’s dividend payout ratio (DPR) is 46.48%.

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.