Brokerages Set United Bankshares, Inc. (NASDAQ:UBSI) Target Price at $45.75

Shares of United Bankshares, Inc. (NASDAQ:UBSI) have earned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $45.75.

Several analysts have issued reports on UBSI shares. Raymond James Financial restated an “outperform” rating and set a $49.00 price target on shares of United Bankshares in a research report on Monday, April 27th. Piper Sandler restated an “overweight” rating and set a $47.00 price target on shares of United Bankshares in a research report on Monday, January 26th. Stephens upped their price target on shares of United Bankshares from $40.00 to $44.00 and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Weiss Ratings upgraded shares of United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 13th. Finally, Zacks Research lowered shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th.

United Bankshares Stock Performance

NASDAQ UBSI opened at $43.14 on Friday. The company has a 50-day simple moving average of $42.16 and a two-hundred day simple moving average of $40.79. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10. United Bankshares has a 12-month low of $34.10 and a 12-month high of $45.92. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 12.08 and a beta of 0.72.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. United Bankshares had a net margin of 27.45% and a return on equity of 9.26%. The business had revenue of $316.58 million during the quarter, compared to analyst estimates of $315.15 million. During the same period in the prior year, the business posted $0.59 earnings per share. On average, equities analysts forecast that United Bankshares will post 3.64 EPS for the current year.

United Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, June 12th. United Bankshares’s dividend payout ratio is currently 42.58%.

Institutional Trading of United Bankshares

A number of institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in shares of United Bankshares by 0.3% during the third quarter. Dimensional Fund Advisors LP now owns 7,741,908 shares of the financial services provider’s stock worth $288,076,000 after purchasing an additional 24,631 shares during the period. Geode Capital Management LLC boosted its holdings in shares of United Bankshares by 5.1% during the fourth quarter. Geode Capital Management LLC now owns 3,802,338 shares of the financial services provider’s stock worth $146,030,000 after purchasing an additional 183,950 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of United Bankshares by 1.2% during the third quarter. Victory Capital Management Inc. now owns 3,624,628 shares of the financial services provider’s stock worth $134,872,000 after purchasing an additional 42,255 shares during the period. Norges Bank purchased a new stake in shares of United Bankshares during the fourth quarter worth about $68,366,000. Finally, Bank of America Corp DE boosted its holdings in shares of United Bankshares by 20.5% during the first quarter. Bank of America Corp DE now owns 1,631,894 shares of the financial services provider’s stock worth $67,593,000 after purchasing an additional 277,836 shares during the period. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

United Bankshares Company Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.