Brokerages Anticipate United Bankshares, Inc. (UBSI) Will Announce Quarterly Sales of $176.15 Million
Wall Street brokerages expect that United Bankshares, Inc. (NASDAQ:UBSI) will post sales of $176.15 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for United Bankshares’ earnings, with the highest sales estimate coming in at $179.08 million and the lowest estimate coming in at $173.64 million. United Bankshares reported sales of $175.24 million during the same quarter last year, which indicates a positive year over year growth rate of 0.5%. The business is expected to issue its next quarterly earnings results on Thursday, April 25th.
According to Zacks, analysts expect that United Bankshares will report full year sales of $729.27 million for the current year, with estimates ranging from $722.04 million to $734.23 million. For the next fiscal year, analysts anticipate that the business will report sales of $748.48 million, with estimates ranging from $736.81 million to $771.27 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover United Bankshares.
United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Tuesday, January 29th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.01. United Bankshares had a net margin of 30.28% and a return on equity of 7.89%. The firm had revenue of $176.53 million for the quarter, compared to the consensus estimate of $180.53 million. During the same period in the prior year, the firm posted $0.53 earnings per share.
NASDAQ UBSI traded up $1.00 during mid-day trading on Wednesday, reaching $36.97. 770,200 shares of the stock were exchanged, compared to its average volume of 476,438. United Bankshares has a 1 year low of $29.13 and a 1 year high of $39.95. The company has a market capitalization of $3.71 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 1.79 and a beta of 1.21. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.00 and a current ratio of 1.02.
In related news, Director P Clinton Winter acquired 1,000 shares of United Bankshares stock in a transaction on Thursday, December 27th. The stock was bought at an average cost of $29.70 per share, for a total transaction of $29,700.00. Following the completion of the transaction, the director now owns 446,511 shares of the company’s stock, valued at approximately $13,261,376.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.15% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Arizona State Retirement System raised its position in United Bankshares by 0.5% during the fourth quarter. Arizona State Retirement System now owns 74,059 shares of the financial services provider’s stock worth $2,304,000 after acquiring an additional 341 shares during the period. BB&T Securities LLC raised its position in United Bankshares by 2.4% during the fourth quarter. BB&T Securities LLC now owns 23,614 shares of the financial services provider’s stock worth $734,000 after acquiring an additional 549 shares during the period. Security National Trust Co. raised its position in United Bankshares by 2.7% during the fourth quarter. Security National Trust Co. now owns 24,451 shares of the financial services provider’s stock worth $761,000 after acquiring an additional 650 shares during the period. LPL Financial LLC raised its position in United Bankshares by 13.1% during the fourth quarter. LPL Financial LLC now owns 6,569 shares of the financial services provider’s stock worth $204,000 after acquiring an additional 762 shares during the period. Finally, FNY Investment Advisers LLC raised its position in United Bankshares by 97.1% during the fourth quarter. FNY Investment Advisers LLC now owns 1,774 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 874 shares during the period. Institutional investors own 71.58% of the company’s stock.
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.
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