United Bankshares (NASDAQ:UBSI) Hits New 12-Month High – Here’s What Happened

United Bankshares, Inc. (NASDAQ:UBSI) shares reached a new 52-week high on Monday . The company traded as high as $45.95 and last traded at $46.07, with a volume of 50604 shares changing hands. The stock had previously closed at $45.65.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on UBSI shares. Raymond James Financial restated an “outperform” rating and issued a $49.00 price target on shares of United Bankshares in a research note on Monday, April 27th. Wall Street Zen downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Zacks Research downgraded shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, United Bankshares has an average rating of “Moderate Buy” and a consensus target price of $45.75.

United Bankshares Trading Down 0.6%

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. The firm’s fifty day simple moving average is $43.39 and its 200-day simple moving average is $41.68. The stock has a market cap of $6.25 billion, a P/E ratio of 12.69 and a beta of 0.71.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.04. United Bankshares had a net margin of 27.45% and a return on equity of 9.26%. The firm had revenue of $316.58 million during the quarter, compared to analyst estimates of $315.15 million. During the same quarter last year, the business earned $0.59 EPS. Equities research analysts expect that United Bankshares, Inc. will post 3.64 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Friday, June 12th. United Bankshares’s payout ratio is currently 42.58%.

Institutional Investors Weigh In On United Bankshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UBSI. Caitong International Asset Management Co. Ltd bought a new stake in United Bankshares in the 3rd quarter valued at about $25,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of United Bankshares in the 4th quarter worth approximately $26,000. Rothschild Investment LLC lifted its holdings in shares of United Bankshares by 174.8% in the 3rd quarter. Rothschild Investment LLC now owns 838 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 533 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of United Bankshares by 196.2% in the 4th quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 567 shares during the last quarter. Finally, Root Financial Partners LLC lifted its holdings in shares of United Bankshares by 64.4% in the 1st quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 308 shares during 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.