United Bankshares (NASDAQ:UBSI) Reaches New 1-Year High – Here’s What Happened

United Bankshares, Inc. (NASDAQ:UBSI) reached a new 52-week high during trading on Tuesday . The stock traded as high as $49.30 and last traded at $49.3860, with a volume of 129332 shares traded. The stock had previously closed at $48.91.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on UBSI shares. Raymond James Financial raised their price objective on United Bankshares from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Keefe, Bruyette & Woods increased their price target on United Bankshares from $46.00 to $48.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Hovde Group raised their price target on United Bankshares from $49.00 to $50.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Wall Street Zen upgraded United Bankshares from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of United Bankshares in a report on Monday, July 6th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.80.

United Bankshares Price Performance

The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10. The stock’s 50 day moving average price is $46.01 and its two-hundred day moving average price is $43.72. The stock has a market cap of $6.78 billion, a price-to-earnings ratio of 13.39 and a beta of 0.71.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.89 by $0.06. The company had revenue of $323.82 million for the quarter, compared to analyst estimates of $320.07 million. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. During the same period in the prior year, the company earned $0.85 earnings per share. Equities research analysts forecast that United Bankshares, Inc. will post 3.71 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 12th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.1%. The ex-dividend date was Friday, June 12th. United Bankshares’s dividend payout ratio (DPR) is currently 41.42%.

Institutional Investors Weigh In On United Bankshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in United Bankshares during the third quarter worth $25,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of United Bankshares in the fourth quarter worth about $26,000. Farther Finance Advisors LLC boosted its stake in shares of United Bankshares by 196.2% during the 4th quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 567 shares in the last quarter. Root Financial Partners LLC boosted its stake in shares of United Bankshares by 64.4% during the 1st quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 308 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of United Bankshares by 528.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 988 shares during the period. Institutional investors and hedge funds own 70.80% of the company’s stock.

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.