United Bankshares (UBSI) Upgraded to Buy at BidaskClub

United Bankshares (NASDAQ:UBSI) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Friday, BidAskClub reports.

Separately, Zacks Investment Research raised shares of United Bankshares from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. United Bankshares currently has a consensus rating of “Hold” and a consensus target price of $39.50.

NASDAQ UBSI traded up $0.36 on Friday, hitting $39.32. 575,048 shares of the stock were exchanged, compared to its average volume of 453,490. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.51. United Bankshares has a 52 week low of $29.13 and a 52 week high of $39.95. The firm has a market capitalization of $4.02 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 1.92 and a beta of 1.26.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 $176.38 million for the quarter, compared to analyst estimates of $174.76 million. During the same period in the prior year, the firm posted $0.59 earnings per share. The company’s quarterly revenue was up .0% compared to the same quarter last year. On average, research analysts anticipate that United Bankshares will post 2.52 EPS for the current fiscal year.

In other United Bankshares news, President Richard M. Adams, Jr. sold 14,790 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $37.97, for a total transaction of $561,576.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.62% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Toronto Dominion Bank bought a new position in shares of United Bankshares in the fourth quarter valued at about $40,000. Oregon Public Employees Retirement Fund raised its position in shares of United Bankshares by 3,011.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,291,812 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 1,250,288 shares during the period. Rehmann Capital Advisory Group raised its position in shares of United Bankshares by 60.3% in the fourth quarter. Rehmann Capital Advisory Group now owns 1,334 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 502 shares during the period. FNY Investment Advisers LLC raised its position in shares of United Bankshares by 97.1% in the fourth quarter. FNY Investment Advisers LLC now owns 1,774 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 874 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of United Bankshares by 381.0% in the fourth quarter. Bessemer Group Inc. now owns 4,021 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 3,185 shares during the period. 71.88% of the stock is currently owned by institutional investors.

United Bankshares Company Profile

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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