United Bankshares (NASDAQ:UBSI) Announces Earnings Results

United Bankshares (NASDAQ:UBSI) issued its quarterly earnings results on Thursday. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.01, Zacks reports. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. During the same quarter in the previous year, the firm earned $0.92 EPS.

United Bankshares Stock Up 1.5%

Shares of United Bankshares stock traded up $0.69 during trading on Thursday, hitting $47.87. 175,306 shares of the stock were exchanged, compared to its average volume of 951,561. The stock has a market cap of $6.52 billion, a price-to-earnings ratio of 13.04 and a beta of 0.72. The firm’s 50-day moving average price is $47.05 and its 200 day moving average price is $45.75. United Bankshares has a 12-month low of $34.68 and a 12-month high of $49.62. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.97.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 11th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, September 11th. United Bankshares’s payout ratio is 41.42%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on UBSI shares. Raymond James Financial upped their target price on shares of United Bankshares from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Wall Street Zen raised shares of United Bankshares from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Hovde Group boosted their price target on shares of United Bankshares from $49.00 to $50.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. Weiss Ratings restated a “buy (b)” rating on shares of United Bankshares in a research note on Friday, October 2nd. Finally, Keefe, Bruyette & Woods upped their price objective on United Bankshares from $46.00 to $48.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, United Bankshares has a consensus rating of “Hold” and a consensus target price of $47.80.

Insider Activity at United Bankshares

In related news, Director Mark Nesselroad sold 3,200 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $46.42, for a total value of $148,544.00. Following the transaction, the director owned 32,224 shares of the company’s stock, valued at $1,495,838.08. This represents a 9.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 3.16% of the company’s stock.

About United Bankshares

United Bankshares, Inc is a financial holding company that operates through its subsidiary, United Bank. The company provides a broad range of banking and financial services to individuals, businesses, nonprofit organizations and government entities.

United Bank’s offerings include checking and savings accounts, certificates of deposit, residential and commercial real estate lending, consumer loans, commercial and industrial financing, treasury management and online and mobile banking.