Key Points
- Director Mark Nesselroad sold 3,200 United Bankshares shares at an average price of $46.42, generating $148,544. After the sale, he retained 32,224 shares, reducing his ownership by 9.03%.
- United Bankshares reported quarterly EPS of $0.95, exceeding analyst expectations of $0.89, while revenue of $323.82 million also topped forecasts. The company declared a quarterly dividend of $0.38, equivalent to a 3.2% annualized yield.
- Analysts maintain a consensus “Hold” rating with a $47.80 target price, while institutional investors own 70.8% of the stock. UBSI recently traded near $47.30, below its 52-week high of $49.62.
United Bankshares, Inc. (NASDAQ:UBSI - Get Free Report) Director Mark Nesselroad sold 3,200 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $46.42, for a total value of $148,544.00. Following the completion of the sale, the director owned 32,224 shares of the company's stock, valued at approximately $1,495,838.08. This trade represents a 9.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
United Bankshares Price Performance
United Bankshares stock opened at $47.30 on Thursday. The stock's fifty day moving average price is $47.50 and its two-hundred day moving average price is $44.43. United Bankshares, Inc. has a one year low of $34.10 and a one year high of $49.62. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.97. The firm has a market cap of $6.44 billion, a PE ratio of 12.89 and a beta of 0.70.
United Bankshares (NASDAQ:UBSI - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.06. The firm had revenue of $323.82 million during the quarter, compared to analysts' expectations of $320.07 million. United Bankshares had a return on equity of 9.39% and a net margin of 27.97%.During the same period in the previous year, the firm earned $0.85 EPS. As a group, research analysts expect that United Bankshares, Inc. will post 3.71 EPS for the current fiscal year.
United Bankshares Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be given a $0.38 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.2%. United Bankshares's dividend payout ratio (DPR) is presently 41.42%.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of United Bankshares in a research report on Monday, July 6th. Raymond James Financial raised their target price on shares of United Bankshares from $49.00 to $50.00 and gave the company an "outperform" rating in a report on Wednesday, July 1st. Wall Street Zen upgraded shares of United Bankshares from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Keefe, Bruyette & Woods upped their price target on shares of United Bankshares from $46.00 to $48.00 and gave the stock a "market perform" rating in a report on Monday, July 27th. Finally, Hovde Group increased their price target on shares of United Bankshares from $49.00 to $50.00 and gave the stock a "market perform" rating in a research report on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $47.80.
Get Our Latest Research Report on United Bankshares
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of UBSI. Bank of America Corp DE boosted its stake in shares of United Bankshares by 20.5% in the 1st quarter. Bank of America Corp DE now owns 1,631,894 shares of the financial services provider's stock valued at $67,593,000 after purchasing an additional 277,836 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in United Bankshares during the 2nd quarter worth approximately $3,979,000. Deutsche Bank AG bought a new position in United Bankshares in the 2nd quarter valued at approximately $6,697,000. NFJ Investment Group LLC acquired a new stake in United Bankshares in the second quarter valued at approximately $2,930,000. Finally, Amundi grew its stake in shares of United Bankshares by 204.8% during the first quarter. Amundi now owns 49,874 shares of the financial services provider's stock worth $2,066,000 after buying an additional 33,511 shares during the last quarter. Institutional investors own 70.80% of the company's stock.
About United Bankshares
(
Get Free Report)
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.
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