United Bankshares (NASDAQ:UBSI) Price Target Raised to $48.00

United Bankshares (NASDAQ:UBSI) had its target price upped by Keefe, Bruyette & Woods from $46.00 to $48.00 in a report released on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

UBSI has been the topic of several other reports. Raymond James Financial raised their price objective on shares of United Bankshares from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of United Bankshares in a report on Monday, July 6th. Hovde Group increased their price target on United Bankshares from $49.00 to $50.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. Finally, Wall Street Zen raised United Bankshares from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $47.80.

United Bankshares Trading Down 0.2%

Shares of NASDAQ:UBSI opened at $48.88 on Monday. The stock has a 50 day moving average of $45.46 and a 200 day moving average of $43.42. The company has a market cap of $6.74 billion, a PE ratio of 13.32 and a beta of 0.71. The company has a current ratio of 0.98, a quick 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 $49.27.

United Bankshares (NASDAQ:UBSI) last released its earnings results on Thursday, July 23rd. The financial services provider reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. The company had revenue of $323.82 million for the quarter, compared to analysts’ expectations of $320.07 million. During the same quarter last year, the business earned $0.85 EPS. As a group, equities research analysts expect that United Bankshares will post 3.71 EPS for the current year.

United Bankshares Dividend Announcement

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

Hedge Funds Weigh In On United Bankshares

Several hedge funds have recently modified their holdings of the stock. 1834 Investment Advisors Co. bought a new stake in United Bankshares in the 4th quarter worth approximately $3,700,000. SG Americas Securities LLC boosted its position in shares of United Bankshares by 168.3% during the 4th quarter. SG Americas Securities LLC now owns 56,866 shares of the financial services provider’s stock valued at $2,184,000 after acquiring an additional 35,673 shares during the last quarter. Artemis Investment Management LLP purchased a new position in shares of United Bankshares in the fourth quarter valued at $1,801,000. OLD National Bancorp IN purchased a new position in shares of United Bankshares in the fourth quarter valued at $4,895,000. Finally, NTV Asset Management LLC grew its holdings in shares of United Bankshares by 35.5% in the fourth quarter. NTV Asset Management LLC now owns 172,025 shares of the financial services provider’s stock valued at $6,606,000 after purchasing an additional 45,100 shares in the last quarter. Hedge funds and other institutional investors 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.