United Bankshares (NASDAQ:UBSI) Sets New 12-Month High at $39.93

Shares of United Bankshares, Inc. (NASDAQ:UBSI) reached a new 52-week high on Wednesday . The stock traded as high as $39.93 and last traded at $39.53, with a volume of 281482 shares. The stock had previously closed at $38.89.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Stephens lifted 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 raised their price objective on shares of United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods upped 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, July 26th. Finally, StockNews.com raised United Bankshares from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $39.20.

United Bankshares Trading Up 0.1 %

The stock has a 50 day simple moving average of $33.36 and a 200-day simple moving average of $34.18. The firm has a market cap of $5.26 billion, a P/E ratio of 14.86 and a beta of 1.00. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.31.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.07. The business had revenue of $255.94 million during the quarter, compared to analyst estimates of $255.54 million. United Bankshares had a return on equity of 7.72% and a net margin of 22.44%. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 earnings per share. On average, equities research analysts expect that United Bankshares, Inc. will post 2.67 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.48 dividend on an annualized basis and a yield of 3.80%. United Bankshares’s payout ratio is 56.49%.

Institutional Investors Weigh In On United Bankshares

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp grew its stake in shares of United Bankshares by 206.0% in the 4th quarter. Fifth Third Bancorp now owns 976 shares of the financial services provider’s stock valued at $37,000 after buying an additional 657 shares during the period. GAMMA Investing LLC boosted its holdings in United Bankshares by 253.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,545 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 1,108 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in shares of United Bankshares by 449.0% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,345 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 1,100 shares during the period. Kapitalo Investimentos Ltda purchased a new position in shares of United Bankshares in the fourth quarter valued at $58,000. Finally, New Covenant Trust Company N.A. acquired a new stake in United Bankshares during the 1st quarter valued at $79,000. Institutional investors and hedge funds own 70.80% of the company’s stock.

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.