United Bankshares, Inc. Declares Quarterly Dividend of $0.38 (NASDAQ:UBSI)

United Bankshares, Inc. (NASDAQ:UBSI) announced a quarterly dividend on Wednesday, May 13th. Stockholders of record on Friday, June 12th will be paid a dividend of 0.38 per share by the financial services provider on Wednesday, July 1st. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, June 12th.

United Bankshares has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 26 consecutive years. United Bankshares has a payout ratio of 47.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect United Bankshares to earn $3.84 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 39.6%.

United Bankshares Stock Down 0.9%

Shares of NASDAQ UBSI opened at $42.15 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. United Bankshares has a 1 year low of $34.10 and a 1 year high of $45.92. The stock’s 50-day simple moving average is $42.00 and its 200-day simple moving average is $40.57. The firm has a market cap of $5.81 billion, a price-to-earnings ratio of 11.81 and a beta of 0.72.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. United Bankshares had a return on equity of 9.26% and a net margin of 27.45%.The firm had revenue of $316.58 million during the quarter, compared to analyst estimates of $315.15 million. During the same quarter last year, the firm earned $0.59 EPS. As a group, equities analysts anticipate that United Bankshares will post 3.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on UBSI. Weiss Ratings upgraded shares of United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. Raymond James Financial reissued an “outperform” rating and set a $49.00 price objective on shares of United Bankshares in a report on Monday, April 27th. Zacks Research downgraded shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Stephens upped their target price on shares of United Bankshares from $40.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $47.00 price target on shares of United Bankshares in a research report on Monday, January 26th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, United Bankshares currently has an average rating of “Moderate Buy” and an average target price of $45.75.

United Bankshares Company Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.