United Bankshares (NASDAQ:UBSI) Sets New 1-Year High – Here’s Why

United Bankshares, Inc. (NASDAQ:UBSI)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $45.95 and last traded at $46.07, with a volume of 50604 shares traded. The stock had previously closed at $45.65.

Wall Street Analysts Forecast Growth

UBSI has been the topic of a number of research reports. Raymond James Financial restated an “outperform” rating and issued a $49.00 price objective on shares of United Bankshares in a report on Monday, April 27th. Zacks Research downgraded shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Wall Street Zen downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Saturday. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, United Bankshares currently has an average rating of “Moderate Buy” and a consensus price target of $45.75.

United Bankshares Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a fifty day simple moving average of $43.52 and a 200 day simple moving average of $41.78. The company has a market cap of $6.21 billion, a price-to-earnings ratio of 12.62 and a beta of 0.71.

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

United Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.4%. The ex-dividend date is Friday, June 12th. United Bankshares’s dividend payout ratio (DPR) is 42.58%.

Institutional Investors Weigh In On United Bankshares

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Empowered Funds LLC grew its position in shares of United Bankshares by 8.1% in the first quarter. Empowered Funds LLC now owns 5,336 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 402 shares during the last quarter. Bank of America Corp DE grew its position in shares of United Bankshares by 20.5% in the first quarter. Bank of America Corp DE now owns 1,631,894 shares of the financial services provider’s stock valued at $67,593,000 after purchasing an additional 277,836 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of United Bankshares in the first quarter valued at about $619,000. Arkadios Wealth Advisors grew its position in shares of United Bankshares by 10.8% in the first quarter. Arkadios Wealth Advisors now owns 81,499 shares of the financial services provider’s stock valued at $3,376,000 after purchasing an additional 7,940 shares during the last quarter. Finally, Amundi grew its position in shares of United Bankshares by 204.8% in the first quarter. Amundi now owns 49,874 shares of the financial services provider’s stock valued at $2,066,000 after purchasing an additional 33,511 shares during the last quarter. 70.80% of the stock is owned by institutional investors and hedge funds.

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.