United Bankshares (NASDAQ:UBSI) Hits New 12-Month High – Here’s What Happened

United Bankshares, Inc. (NASDAQ:UBSI)’s share price hit a new 52-week high on Monday . The stock traded as high as $45.95 and last traded at $46.07, with a volume of 50604 shares trading hands. The stock had previously closed at $45.65.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $49.00 price objective on shares of United Bankshares in a report on Monday, April 27th. Zacks Research lowered shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Wall Street Zen lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Saturday. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.75.

United Bankshares Price Performance

The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of 12.69 and a beta of 0.71. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10. The business’s 50 day simple moving average is $43.39 and its 200-day simple moving average is $41.68.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. The firm had revenue of $316.58 million for the quarter, compared to the consensus estimate of $315.15 million. United Bankshares had a net margin of 27.45% and a return on equity of 9.26%. During the same period in the prior year, the company posted $0.59 earnings per share. On average, research analysts forecast that United Bankshares, Inc. will post 3.64 earnings per share for the current year.

United Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Friday, June 12th. United Bankshares’s dividend payout ratio (DPR) is presently 42.58%.

Institutional Investors Weigh In On United Bankshares

A number of hedge funds have recently made changes to their positions in UBSI. Caitong International Asset Management Co. Ltd acquired a new stake in shares of United Bankshares in the 3rd quarter valued at approximately $25,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of United Bankshares in the 4th quarter valued at approximately $26,000. Rothschild Investment LLC boosted its stake in shares of United Bankshares by 174.8% in the 3rd quarter. Rothschild Investment LLC now owns 838 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 533 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of United Bankshares by 196.2% in the 4th quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 567 shares in the last quarter. Finally, Root Financial Partners LLC boosted its stake in shares of United Bankshares by 64.4% in the 1st quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 308 shares in the last quarter. 70.80% of the stock is currently owned by institutional investors and hedge funds.

About United Bankshares

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.