United Bankshares, Inc. Announces Quarterly Dividend of $0.34 (UBSI)
United Bankshares, Inc. (NASDAQ:UBSI) announced a quarterly dividend on Monday, February 26th, RTT News reports. Investors of record on Friday, March 9th will be paid a dividend of 0.34 per share by the financial services provider on Monday, April 2nd. This represents a $1.36 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Thursday, March 8th.
United Bankshares has increased its dividend by an average of 1.0% per year over the last three years. United Bankshares has a payout ratio of 71.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect United Bankshares to earn $2.61 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 52.1%.
Shares of United Bankshares (NASDAQ:UBSI) opened at $36.30 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.42. United Bankshares has a one year low of $31.70 and a one year high of $46.35. The firm has a market cap of $3,728.98, a price-to-earnings ratio of 23.27, a P/E/G ratio of 1.78 and a beta of 1.05.
Several analysts recently weighed in on UBSI shares. Zacks Investment Research raised shares of United Bankshares from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research note on Saturday, January 13th. BidaskClub lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Sandler O’Neill set a $38.00 target price on shares of United Bankshares and gave the company a “hold” rating in a report on Thursday, January 4th. Finally, TheStreet upgraded shares of United Bankshares from a “c+” rating to a “b-” rating in a report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $42.25.
In related news, Director Peter A. Converse sold 69,020 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $37.03, for a total value of $2,555,810.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael P. Fitzgerald sold 27,000 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $37.05, for a total transaction of $1,000,350.00. The disclosure for this sale can be found here. 6.23% of the stock is owned by insiders.
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United Bankshares Company Profile
United Bankshares, Inc (United) is a bank holding company. The Company operates through community banking segment. United’s Banking Subsidiaries offer a range of commercial and retail banking services and products. United, through its subsidiaries, engages in community banking and offers banking products and services permitted by law and regulation.
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