United Bankshares (NASDAQ:UBSI – Get Free Report) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.
A number of other equities analysts have also recently commented on UBSI. Keefe, Bruyette & Woods boosted their price target on shares of United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a research note on Friday. Stephens upped their price objective on shares of United Bankshares from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, DA Davidson upped their price objective on shares of United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $39.20.
View Our Latest Research Report on United Bankshares
United Bankshares Price Performance
United Bankshares (NASDAQ:UBSI – Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. United Bankshares had a net margin of 22.51% and a return on equity of 7.72%. The business had revenue of $255.94 million during the quarter, compared to analysts’ expectations of $255.54 million. During the same quarter in the previous year, the company earned $0.68 EPS. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, research analysts anticipate that United Bankshares will post 2.61 earnings per share for the current fiscal year.
Institutional Investors Weigh In On United Bankshares
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its holdings in United Bankshares by 206.0% in the 4th quarter. Fifth Third Bancorp now owns 976 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 657 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in United Bankshares by 449.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 1,345 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 1,100 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in United Bankshares in the 4th quarter worth $58,000. GAMMA Investing LLC raised its holdings in United Bankshares by 253.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,545 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 1,108 shares in the last quarter. Finally, New Covenant Trust Company N.A. bought a new position in United Bankshares in the 1st quarter worth $79,000. 70.80% of the stock is currently owned by institutional investors.
United Bankshares Company Profile
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.
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