United Bankshares (NASDAQ:UBSI) Hits New 12-Month High – Should You Buy?

Shares of United Bankshares, Inc. (NASDAQ:UBSI) hit a new 52-week high on Thursday . The company traded as high as $46.42 and last traded at $46.2910, with a volume of 206182 shares. The stock had previously closed at $45.68.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wall Street Zen downgraded United Bankshares from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Hovde Group started coverage on shares of United Bankshares in a report on Wednesday. They issued a “market perform” rating and a $49.00 price target for the company. Raymond James Financial reiterated an “outperform” rating and issued a $49.00 price objective on shares of United Bankshares in a research note on Monday, April 27th. Finally, Zacks Research lowered shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $46.40.

United Bankshares Price Performance

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 company has a market cap of $6.31 billion, a price-to-earnings ratio of 12.83 and a beta of 0.71. The company has a fifty day simple moving average of $43.69 and a two-hundred day simple moving average of $42.08.

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

United Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, June 12th. United Bankshares’s dividend payout ratio is 42.58%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd acquired a new stake in United Bankshares during the 3rd quarter valued at $25,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of United Bankshares in the fourth quarter valued at $26,000. Farther Finance Advisors LLC boosted its stake in shares of United Bankshares by 196.2% during the fourth quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 567 shares during the last quarter. Root Financial Partners LLC increased its position in United Bankshares by 64.4% during the 1st quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 308 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in United Bankshares by 528.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 988 shares during 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.