United Bankshares (UBSI) Lowered to Hold at BidaskClub

BidaskClub downgraded shares of United Bankshares (NASDAQ:UBSI) from a buy rating to a hold rating in a report issued on Saturday morning, BidAskClub reports.

Several other research analysts also recently commented on the stock. Boenning Scattergood reissued a neutral rating on shares of United Bankshares in a research note on Thursday, April 25th. Zacks Investment Research raised shares of United Bankshares from a sell rating to a hold rating in a research note on Tuesday, January 29th. Four equities research analysts have rated the stock with a hold rating, The company currently has a consensus rating of Hold and an average target price of $41.00.

UBSI stock opened at $36.98 on Friday. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 1.82 and a beta of 1.27. United Bankshares has a one year low of $29.13 and a one year high of $39.95. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.58.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. The firm had revenue of $176.38 million for the quarter, compared to the consensus estimate of $174.76 million. United Bankshares had a net margin of 29.74% and a return on equity of 7.93%. The business’s revenue was up .0% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. On average, analysts anticipate that United Bankshares will post 2.53 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Thursday, June 13th. United Bankshares’s dividend payout ratio (DPR) is presently 55.51%.

In related news, President Richard M. Adams, Jr. sold 14,790 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $37.97, for a total value of $561,576.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.62% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Connable Office Inc. boosted its position in shares of United Bankshares by 3.0% during the 1st quarter. Connable Office Inc. now owns 10,603 shares of the financial services provider’s stock valued at $384,000 after acquiring an additional 313 shares during the last quarter. Arizona State Retirement System lifted its position in United Bankshares by 0.5% in the fourth quarter. Arizona State Retirement System now owns 74,059 shares of the financial services provider’s stock worth $2,304,000 after buying an additional 341 shares during the last quarter. Comerica Bank lifted its position in United Bankshares by 0.5% in the first quarter. Comerica Bank now owns 80,418 shares of the financial services provider’s stock worth $3,049,000 after buying an additional 370 shares during the last quarter. NTV Asset Management LLC lifted its position in United Bankshares by 0.6% in the first quarter. NTV Asset Management LLC now owns 68,708 shares of the financial services provider’s stock worth $2,490,000 after buying an additional 377 shares during the last quarter. Finally, First National Bank of Omaha lifted its position in United Bankshares by 0.3% in the first quarter. First National Bank of Omaha now owns 135,592 shares of the financial services provider’s stock worth $4,913,000 after buying an additional 424 shares during the last quarter. 72.62% of the stock is 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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