United Bankshares (NASDAQ:UBSI) Price Target Raised to $40.00 at Keefe, Bruyette & Woods

United Bankshares (NASDAQ:UBSI) had its price target upped by Keefe, Bruyette & Woods from $38.00 to $40.00 in a report published on Friday, Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.

Separately, Stephens lowered their price objective on United Bankshares from $36.00 to $34.00 and set an equal weight rating on the stock in a research report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $39.20.

United Bankshares Stock Performance

United Bankshares stock opened at $38.55 on Friday. The company has a market capitalization of $5.21 billion, a P/E ratio of 14.71 and a beta of 1.00. United Bankshares has a twelve month low of $25.35 and a twelve month high of $39.86. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average is $33.27 and its 200 day moving average is $34.16.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.07. The business had revenue of $255.94 million for the quarter, compared to analysts’ expectations of $255.54 million. United Bankshares had a return on equity of 7.72% and a net margin of 22.44%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 EPS. On average, equities research analysts predict that United Bankshares will post 2.64 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, June 14th. This represents a $1.48 annualized dividend and a dividend yield of 3.84%. United Bankshares’s payout ratio is 56.49%.

Hedge Funds Weigh In On United Bankshares

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of United Bankshares by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 14,202,951 shares of the financial services provider’s stock valued at $533,321,000 after buying an additional 71,359 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of 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 buying an additional 172,997 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of United Bankshares by 2,745.7% during 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 buying an additional 2,735,901 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of United Bankshares by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,486,804 shares of the financial services provider’s stock valued at $55,829,000 after buying an additional 60,465 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings 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 valued at $43,305,000 after buying an additional 23,640 shares during the period. 70.80% of the stock is 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.