United Bankshares, Inc. (UBSI) Expected to Announce Quarterly Sales of $189.56 Million
Analysts expect United Bankshares, Inc. (NASDAQ:UBSI) to announce sales of $189.56 million for the current quarter, according to Zacks. Three analysts have provided estimates for United Bankshares’ earnings, with estimates ranging from $184.44 million to $197.41 million. United Bankshares reported sales of $188.51 million in the same quarter last year, which indicates a positive year-over-year growth rate of 0.6%. The company is scheduled to report its next quarterly earnings report on Thursday, October 25th.
According to Zacks, analysts expect that United Bankshares will report full-year sales of $739.37 million for the current fiscal year, with estimates ranging from $730.75 million to $753.13 million. For the next financial year, analysts anticipate that the company will report sales of $767.95 million per share, with estimates ranging from $753.87 million to $789.87 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow United Bankshares.
United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, July 26th. The financial services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. United Bankshares had a net margin of 24.38% and a return on equity of 7.40%. The business had revenue of $185.13 million during the quarter, compared to analyst estimates of $184.65 million. During the same quarter in the previous year, the business posted $0.37 EPS.
Shares of United Bankshares stock traded up $0.05 on Friday, reaching $38.30. The stock had a trading volume of 230,090 shares, compared to its average volume of 613,090. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 0.55. United Bankshares has a 1 year low of $31.70 and a 1 year high of $38.80. The company has a market cap of $3.97 billion, a P/E ratio of 16.70, a PEG ratio of 1.91 and a beta of 1.05.
Institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC raised its stake in United Bankshares by 7.8% in the 2nd quarter. Citadel Advisors LLC now owns 185,750 shares of the financial services provider’s stock valued at $6,761,000 after purchasing an additional 13,417 shares during the last quarter. Meadow Creek Investment Management LLC raised its stake in United Bankshares by 11.3% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 14,112 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 1,428 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in United Bankshares by 8.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,116,599 shares of the financial services provider’s stock valued at $149,846,000 after purchasing an additional 304,259 shares during the last quarter. Ridgewood Investments LLC acquired a new position in United Bankshares in the 2nd quarter valued at about $224,000. Finally, BlackRock Inc. grew its holdings in United Bankshares by 3.3% in the 2nd quarter. BlackRock Inc. now owns 14,062,668 shares of the financial services provider’s stock valued at $511,882,000 after buying an additional 448,147 shares during the period. 70.43% of the stock is owned by institutional investors.
About United Bankshares
United Bankshares, Inc, a financial holding company, 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.
See Also: Google Finance
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for United Bankshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Bankshares and related companies with MarketBeat.com's FREE daily email newsletter.