United Bankshares (UBSI) Upgraded by Zacks Investment Research to Strong-Buy
Zacks Investment Research upgraded shares of United Bankshares (NASDAQ:UBSI) from a hold rating to a strong-buy rating in a research note published on Saturday. The brokerage currently has $42.00 target price on the financial services provider’s stock.
According to Zacks, “United Bankshares, Inc. is a bank holding company whose business is the operation of its bank subsidiaries. All of United’s subsidiary banks are full-service commercial banks. Included among the banking services offered are the acceptance of deposits in checking, savings, time and money market accounts; the making and servicing of personal, commercial, floor plan and student loans; and the making of construction and real estate loans. Also offered are individual retirement accounts, safe deposit boxes, wire transfers and other standard banking products and services. “
A number of other equities research analysts have also recently commented on UBSI. Boenning Scattergood reissued a hold rating on shares of United Bankshares in a research note on Friday, October 27th. BidaskClub cut shares of United Bankshares from a hold rating to a sell rating in a research note on Thursday, December 7th. Finally, Sandler O’Neill set a $38.00 price objective on shares of United Bankshares and gave the company a hold rating in a research note on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $42.25.
Shares of United Bankshares (NASDAQ:UBSI) opened at $36.90 on Friday. The company has a market cap of $3,874.22, a PE ratio of 19.42, a P/E/G ratio of 1.51 and a beta of 1.05. United Bankshares has a 12 month low of $31.70 and a 12 month high of $46.35. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.46.
United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.54 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.01). The business had revenue of $188.51 million during the quarter, compared to analyst estimates of $193.87 million. United Bankshares had a net margin of 24.94% and a return on equity of 6.25%. United Bankshares’s revenue was up 44.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 earnings per share. equities analysts anticipate that United Bankshares will post 1.9 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.69%. This is a positive change from United Bankshares’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, December 7th. United Bankshares’s dividend payout ratio is 71.58%.
Large investors have recently added to or reduced their stakes in the business. Viking Fund Management LLC lifted its holdings in United Bankshares by 7.7% in the 3rd quarter. Viking Fund Management LLC now owns 84,000 shares of the financial services provider’s stock valued at $3,121,000 after purchasing an additional 6,000 shares in the last quarter. Swiss National Bank lifted its holdings in United Bankshares by 22.3% in the 2nd quarter. Swiss National Bank now owns 164,582 shares of the financial services provider’s stock valued at $6,452,000 after purchasing an additional 30,001 shares in the last quarter. Wesbanco Bank Inc. lifted its holdings in United Bankshares by 2.2% in the 3rd quarter. Wesbanco Bank Inc. now owns 178,728 shares of the financial services provider’s stock valued at $6,640,000 after purchasing an additional 3,850 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in United Bankshares by 19,508.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 110,592 shares of the financial services provider’s stock valued at $4,335,000 after purchasing an additional 110,028 shares in the last quarter. Finally, Citadel Advisors LLC lifted its holdings in United Bankshares by 400.8% in the 2nd quarter. Citadel Advisors LLC now owns 273,383 shares of the financial services provider’s stock valued at $10,717,000 after purchasing an additional 218,793 shares in the last quarter. Institutional investors own 65.51% of the company’s stock.
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About United Bankshares
United Bankshares, Inc (United) is a bank holding company. The Company operates through community banking segment. United’s Banking Subsidiaries offer a range of commercial and retail banking services and products. United, through its subsidiaries, engages in community banking and offers banking products and services permitted by law and regulation.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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