Brokerages Set $38.00 Price Target for United Bankshares Inc. (NASDAQ:UBSI)
Shares of United Bankshares Inc. (NASDAQ:UBSI) have received an average broker rating score of 3.00 (Hold) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold rating.
Analysts have set a 1 year consensus price target of $38.00 for the company and are expecting that the company will post $0.53 EPS for the current quarter, according to Zacks. Zacks has also given United Bankshares an industry rank of 105 out of 265 based on the ratings given to related companies.
UBSI has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their price objective on shares of United Bankshares from $36.00 to $38.00 and gave the company a “market perform” rating in a research note on Monday, August 22nd. Zacks Investment Research raised shares of United Bankshares from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Thursday, June 2nd.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mason Street Advisors LLC purchased a new position in United Bankshares during the second quarter worth $475,000. Schwab Charles Investment Management Inc. raised its position in United Bankshares by 1.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 270,263 shares of the financial services provider’s stock worth $10,138,000 after buying an additional 4,057 shares during the last quarter. Amalgamated Bank raised its position in United Bankshares by 4.7% in the second quarter. Amalgamated Bank now owns 7,808 shares of the financial services provider’s stock worth $302,000 after buying an additional 350 shares during the last quarter. Legal & General Group Plc raised its position in United Bankshares by 19.6% in the second quarter. Legal & General Group Plc now owns 17,456 shares of the financial services provider’s stock worth $644,000 after buying an additional 2,861 shares during the last quarter. Finally, Arizona State Retirement System raised its position in United Bankshares by 1.5% in the second quarter. Arizona State Retirement System now owns 33,648 shares of the financial services provider’s stock worth $1,262,000 after buying an additional 500 shares during the last quarter. 51.99% of the stock is currently owned by institutional investors.
United Bankshares (NASDAQ:UBSI) traded up 0.80% during midday trading on Wednesday, reaching $37.62. 117,701 shares of the company traded hands. The company has a 50 day moving average of $38.47 and a 200-day moving average of $37.86. The stock has a market capitalization of $2.87 billion, a P/E ratio of 19.59 and a beta of 1.05. United Bankshares has a 12-month low of $32.22 and a 12-month high of $43.13.
United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by $0.06. United Bankshares had a return on equity of 7.53% and a net margin of 26.71%. During the same quarter last year, the firm earned $0.50 earnings per share. Equities analysts anticipate that United Bankshares will post $1.97 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Wednesday, September 7th. United Bankshares’s dividend payout ratio (DPR) is 68.75%.
United Bankshares Company Profile
United Bankshares, Inc (United) is a bank holding company. The Company has approximately two banking subsidiaries (the Banking Subsidiaries) doing business under the name of United Bank, one operating under the laws of West Virginia referred to as United Bank (WV) and the other operating under the laws of Virginia referred to as United Bank (VA).
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