United Bankshares (NASDAQ:UBSI) Issues Earnings Results, Beats Expectations By $0.07 EPS

United Bankshares (NASDAQ:UBSI) posted its quarterly earnings data on Thursday. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07, Briefing.com reports. The business had revenue of $255.94 million during the quarter, compared to the consensus estimate of $255.54 million. United Bankshares had a net margin of 22.51% and a return on equity of 7.72%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 earnings per share.

United Bankshares Price Performance

United Bankshares stock traded up $0.99 during mid-day trading on Friday, hitting $39.32. 735,538 shares of the company traded hands, compared to its average volume of 528,581. The stock has a market cap of $5.32 billion, a price-to-earnings ratio of 15.01 and a beta of 1.00. United Bankshares has a one year low of $25.35 and a one year high of $39.86. The stock has a fifty day moving average price of $33.09 and a 200-day moving average price of $34.17. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.99 and a current ratio of 0.99.

United Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.48 annualized dividend and a yield of 3.76%. United Bankshares’s payout ratio is presently 56.49%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Stephens increased their target price on shares of United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday. Keefe, Bruyette & Woods increased their target price on shares of United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday. StockNews.com upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a research report on Friday. Finally, DA Davidson increased their target price on shares of United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, United Bankshares currently has an average rating of “Hold” and an average price target of $39.20.

United Bankshares Company Profile

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.