Stephens Cuts United Bankshares (NASDAQ:UBSI) Price Target to $34.00

United Bankshares (NASDAQ:UBSI) had its price target cut by Stephens from $36.00 to $34.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Separately, Raymond James boosted their price objective on shares of United Bankshares from $38.00 to $41.00 and gave the stock an outperform rating in a research report on Friday, January 5th.

United Bankshares Price Performance

Shares of NASDAQ UBSI opened at $32.61 on Friday. The firm has a market capitalization of $4.40 billion, a P/E ratio of 12.45 and a beta of 1.00. United Bankshares has a one year low of $25.35 and a one year high of $38.74. The company’s fifty day moving average is $34.22 and its two-hundred day moving average is $34.02. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.99 and a current ratio of 1.00.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.64 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.01). United Bankshares had a return on equity of 7.72% and a net margin of 22.51%. The company had revenue of $401.39 million for the quarter, compared to analysts’ expectations of $256.80 million. During the same quarter in the previous year, the firm posted $0.74 earnings per share. Analysts forecast that United Bankshares will post 2.64 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were given a $0.37 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.48 annualized dividend and a dividend yield of 4.54%. United Bankshares’s dividend payout ratio is presently 56.49%.

Institutional Investors Weigh In On United Bankshares

Several institutional investors and hedge funds have recently made changes to their positions in the business. Linden Thomas Advisory Services LLC raised its stake in United Bankshares by 1.5% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 21,419 shares of the financial services provider’s stock valued at $804,000 after purchasing an additional 310 shares during the last quarter. Retirement Systems of Alabama raised its stake in United Bankshares by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 168,997 shares of the financial services provider’s stock valued at $6,346,000 after purchasing an additional 517 shares during the last quarter. Inspire Investing LLC raised its stake in United Bankshares by 4.9% in the 3rd quarter. Inspire Investing LLC now owns 11,099 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 522 shares during the last quarter. Arizona State Retirement System raised its stake in United Bankshares by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 38,420 shares of the financial services provider’s stock valued at $1,060,000 after purchasing an additional 563 shares during the last quarter. Finally, State of Michigan Retirement System raised its stake in United Bankshares by 1.9% in the 1st quarter. State of Michigan Retirement System now owns 33,013 shares of the financial services provider’s stock valued at $1,182,000 after purchasing an additional 600 shares during the last quarter. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

About United Bankshares

United Bankshares, Inc, through its subsidiaries, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts.