United Bankshares (NASDAQ:UBSI) Given New $41.00 Price Target at DA Davidson

United Bankshares (NASDAQ:UBSI) had its price objective upped by DA Davidson from $36.00 to $41.00 in a research note published on Friday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock. DA Davidson also issued estimates for United Bankshares’ Q3 2024 earnings at $0.68 EPS.

Several other equities analysts also recently weighed in on the company. Keefe, Bruyette & Woods boosted their target price on United Bankshares from $38.00 to $40.00 and gave the company a market perform rating in a research report on Friday. Stephens reduced their target price on shares of United Bankshares from $36.00 to $34.00 and set an equal weight rating on the stock in a research note on Friday, April 26th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, United Bankshares presently has a consensus rating of Hold and an average target price of $39.20.

United Bankshares Trading Up 2.6 %

UBSI stock opened at $39.32 on Friday. The firm has a fifty day moving average price of $33.09 and a 200 day moving average price of $34.17. United Bankshares has a fifty-two week low of $25.35 and a fifty-two week high of $39.86. The firm has a market cap of $5.32 billion, a PE ratio of 15.01 and a beta of 1.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.99 and a current ratio of 0.99.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data 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. The business had revenue of $255.94 million during the quarter, compared to analysts’ expectations of $255.54 million. United Bankshares had a net margin of 22.44% and a return on equity of 7.77%. The business’s revenue was down 2.6% on a year-over-year basis. During the same period last year, the company posted $0.68 EPS. Sell-side analysts anticipate that United Bankshares will post 2.61 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were given a $0.37 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.48 annualized dividend and a yield of 3.76%. United Bankshares’s dividend payout ratio (DPR) is 56.49%.

Institutional Investors Weigh In On United Bankshares

Several hedge funds have recently made changes to their positions in UBSI. Vanguard Group Inc. boosted its stake in shares of United Bankshares by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 14,202,951 shares of the financial services provider’s stock valued at $533,321,000 after purchasing an additional 71,359 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in United Bankshares by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,291,001 shares of the financial services provider’s stock valued at $273,782,000 after acquiring an additional 172,997 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of United Bankshares by 2,745.7% in the 4th quarter. Victory Capital Management Inc. now owns 2,835,545 shares of the financial services provider’s stock valued at $106,475,000 after acquiring an additional 2,735,901 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of United Bankshares by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,486,804 shares of the financial services provider’s stock worth $55,829,000 after acquiring an additional 60,465 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in shares of United Bankshares by 1.8% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,334,931 shares of the financial services provider’s stock worth $43,305,000 after purchasing an additional 23,640 shares during the last quarter. 70.80% of the stock is currently owned by hedge funds and other 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.