United Bankshares (UBSI) Cut to “Sell” at BidaskClub
BidaskClub lowered shares of United Bankshares (NASDAQ:UBSI) from a hold rating to a sell rating in a report issued on Thursday morning.
A number of other analysts have also issued reports on the company. TheStreet raised United Bankshares from a c+ rating to a b- rating in a research report on Wednesday, June 6th. Zacks Investment Research raised United Bankshares from a hold rating to a buy rating and set a $42.00 target price on the stock in a research report on Tuesday, July 31st. Finally, ValuEngine raised United Bankshares from a sell rating to a hold rating in a research report on Monday, July 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $39.33.
UBSI stock opened at $38.05 on Thursday. The company has a market cap of $3.95 billion, a PE ratio of 16.62, a PEG ratio of 1.91 and a beta of 1.08. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.05. United Bankshares has a one year low of $33.40 and a one year high of $39.95.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Thursday, September 13th. United Bankshares’s payout ratio is 71.58%.
In other United Bankshares news, Director Peter A. Converse sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $39.00, for a total value of $195,000.00. Following the sale, the director now owns 474,310 shares of the company’s stock, valued at $18,498,090. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter A. Converse sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $39.50, for a total value of $98,750.00. Following the completion of the sale, the director now directly owns 471,810 shares in the company, valued at approximately $18,636,495. The disclosure for this sale can be found here. 5.15% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Millennium Management LLC acquired a new position in shares of United Bankshares in the first quarter worth $7,919,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of United Bankshares by 35.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 32,382 shares of the financial services provider’s stock worth $1,179,000 after acquiring an additional 8,408 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of United Bankshares by 469.0% in the first quarter. PNC Financial Services Group Inc. now owns 218,002 shares of the financial services provider’s stock worth $7,684,000 after acquiring an additional 179,690 shares in the last quarter. W.E. Donoghue & Co. LLC acquired a new position in shares of United Bankshares in the second quarter worth $473,000. Finally, Swiss National Bank grew its stake in shares of United Bankshares by 5.2% in the second quarter. Swiss National Bank now owns 182,782 shares of the financial services provider’s stock worth $6,653,000 after acquiring an additional 9,100 shares in the last quarter. Institutional investors and hedge funds own 72.37% of the company’s stock.
About United Bankshares
United Bankshares, Inc, a financial holding company, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts.
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