United Bankshares (NASDAQ:UBSI) Stock Passes Above 200-Day Moving Average – Time to Sell?

United Bankshares, Inc. (NASDAQ:UBSI)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $40.52 and traded as high as $42.75. United Bankshares shares last traded at $42.52, with a volume of 857,941 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently weighed in on UBSI. Stephens upped their target price on shares of United Bankshares from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $47.00 price objective on shares of United Bankshares in a research note on Monday, January 26th. Weiss Ratings raised United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. Raymond James Financial reaffirmed an “outperform” rating and issued a $49.00 price objective on shares of United Bankshares in a research note on Monday, April 27th. Finally, Keefe, Bruyette & Woods lifted their price objective on United Bankshares from $40.00 to $43.00 and gave the stock a “market perform” rating in a research note on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.75.

United Bankshares Price Performance

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 market cap of $5.86 billion, a P/E ratio of 11.91 and a beta of 0.72. The stock’s 50-day simple moving average is $41.99 and its two-hundred day simple moving average is $40.52.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. United Bankshares had a net margin of 27.45% and a return on equity of 9.26%. The business had revenue of $316.58 million for the quarter, compared to analysts’ expectations of $315.15 million. During the same quarter in the previous year, the business posted $0.59 earnings per share. Equities research analysts forecast that United Bankshares, Inc. will post 3.64 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Friday, March 13th. United Bankshares’s dividend payout ratio is currently 42.58%.

Hedge Funds Weigh In On United Bankshares

Hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings in shares of United Bankshares by 4.6% in the fourth quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider’s stock valued at $634,000 after acquiring an additional 748 shares in the last quarter. Royal Bank of Canada boosted its position in United Bankshares by 2.0% during the 1st quarter. Royal Bank of Canada now owns 66,649 shares of the financial services provider’s stock valued at $2,310,000 after acquiring an additional 1,298 shares in the last quarter. Millennium Management LLC boosted its position in United Bankshares by 464.1% during the 1st quarter. Millennium Management LLC now owns 137,336 shares of the financial services provider’s stock valued at $4,761,000 after acquiring an additional 112,988 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in United Bankshares by 7.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 409,428 shares of the financial services provider’s stock valued at $14,195,000 after acquiring an additional 28,366 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in United Bankshares by 564.0% during the 1st quarter. Jane Street Group LLC now owns 182,540 shares of the financial services provider’s stock valued at $6,329,000 after acquiring an additional 155,051 shares in the last quarter. 70.80% of the stock is currently owned by institutional investors.

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.