United Bankshares (NASDAQ:UBSI) Reaches New 52-Week High – What’s Next?

by · The Markets Daily

United Bankshares, Inc. (NASDAQ:UBSI – Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $41.28 and last traded at $41.10, with a volume of 4551 shares. The stock had previously closed at $37.75.

Analyst Ratings Changes

Several equities analysts have recently issued reports on UBSI shares. Keefe, Bruyette & Woods lifted their price target on United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Stephens raised their price objective on shares of United Bankshares from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. DA Davidson upped their target price on shares of United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, StockNews.com downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $40.25.

View Our Latest Analysis on United Bankshares

United Bankshares Price Performance

The firm has a fifty day moving average of $37.39 and a 200 day moving average of $35.38. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $5.59 billion, a P/E ratio of 15.66 and a beta of 0.98.

United Bankshares (NASDAQ:UBSI – Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. The firm had revenue of $414.67 million during the quarter, compared to analyst estimates of $260.30 million. United Bankshares had a net margin of 22.05% and a return on equity of 7.58%. During the same period in the previous year, the business posted $0.71 earnings per share. On average, equities research analysts anticipate that United Bankshares, Inc. will post 2.73 EPS for the current year.

United Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, September 13th. This represents a $1.48 annualized dividend and a dividend yield of 3.58%. United Bankshares’s payout ratio is 56.06%.

Insider Transactions at United Bankshares

In related news, Director Peter A. Converse sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $40.00, for a total transaction of $200,000.00. Following the completion of the sale, the director now owns 434,769 shares in the company, valued at approximately $17,390,760. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.66% of the company’s stock.

Institutional Trading of United Bankshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UBSI. Cassaday & Co Wealth Management LLC purchased a new stake in shares of United Bankshares in the 3rd quarter worth $221,000. LMR Partners LLP bought a new position in shares of United Bankshares in the third quarter worth about $277,000. Quest Partners LLC lifted its position in shares of United Bankshares by 377.2% during the 3rd quarter. Quest Partners LLC now owns 5,641 shares of the financial services provider’s stock valued at $209,000 after buying an additional 4,459 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of United Bankshares by 16.7% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,558,081 shares of the financial services provider’s stock valued at $57,805,000 after acquiring an additional 223,150 shares during the period. Finally, RIA Advisory Group LLC purchased a new stake in United Bankshares in the 3rd quarter worth approximately $495,000. 70.80% of the stock is owned by hedge funds and other institutional investors.

United Bankshares Company Profile

(Get Free Report)

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.

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