United Bankshares (NASDAQ:UBSI) PT Raised to $41.00 at DA Davidson

United Bankshares (NASDAQ:UBSI) had its target price upped by DA Davidson from $36.00 to $41.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price objective points to a potential upside of 5.59% from the company’s previous close.

UBSI has been the topic of a number of other reports. Keefe, Bruyette & Woods increased their price objective 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. Stephens cut their price objective on United Bankshares from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $38.20.

United Bankshares Trading Up 1.3 %

UBSI traded up $0.50 on Friday, hitting $38.83. The company had a trading volume of 191,644 shares, compared to its average volume of 524,632. The business’s fifty day simple moving average is $33.09 and its 200 day simple moving average is $34.17. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.36. United Bankshares has a 12-month low of $25.35 and a 12-month high of $39.86. The company has a market cap of $5.25 billion, a PE ratio of 14.90 and a beta of 1.00.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.07. United Bankshares had a return on equity of 7.72% and a net margin of 22.51%. The company had revenue of $255.94 million for the quarter, compared to analyst estimates of $255.54 million. During the same quarter in the prior year, the firm posted $0.68 EPS. United Bankshares’s quarterly revenue was down 2.6% compared to the same quarter last year. Equities research analysts expect that United Bankshares will post 2.61 EPS for the current year.

Hedge Funds Weigh In On United Bankshares

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Linden Thomas Advisory Services LLC increased its position in United Bankshares by 1.5% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 21,419 shares of the financial services provider’s stock valued at $804,000 after buying an additional 310 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of United Bankshares by 5.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,587 shares of the financial services provider’s stock worth $214,000 after buying an additional 350 shares during the last quarter. Retirement Systems of Alabama lifted its stake in shares of United Bankshares by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 168,997 shares of the financial services provider’s stock worth $6,346,000 after buying an additional 517 shares during the period. State of Michigan Retirement System grew its holdings in shares of United Bankshares by 1.9% during the first quarter. State of Michigan Retirement System now owns 33,013 shares of the financial services provider’s stock valued at $1,182,000 after buying an additional 600 shares during the last quarter. Finally, Anchor Capital Advisors LLC grew its holdings in shares of United Bankshares by 1.3% during the first quarter. Anchor Capital Advisors LLC now owns 51,205 shares of the financial services provider’s stock valued at $1,833,000 after buying an additional 645 shares during the last quarter. 70.80% of the stock is currently owned by institutional investors.

About United Bankshares

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.