Zacks: Analysts Anticipate United Bankshares, Inc. (UBSI) Will Announce Quarterly Sales of $182.94 Million
Brokerages expect United Bankshares, Inc. (NASDAQ:UBSI) to announce sales of $182.94 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for United Bankshares’ earnings. The highest sales estimate is $186.26 million and the lowest is $179.25 million. United Bankshares reported sales of $129.91 million during the same quarter last year, which indicates a positive year over year growth rate of 40.8%. The business is expected to issue its next quarterly earnings results on Tuesday, January 30th.
On average, analysts expect that United Bankshares will report full year sales of $182.94 million for the current year, with estimates ranging from $676.33 million to $685.45 million. For the next year, analysts anticipate that the firm will report sales of $749.18 million per share, with estimates ranging from $739.13 million to $764.51 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for United Bankshares.
United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The business had revenue of $188.51 million for the quarter, compared to the consensus estimate of $193.87 million. United Bankshares had a net margin of 24.94% and a return on equity of 6.25%. The company’s revenue for the quarter was up 44.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 earnings per share.
A number of research analysts have weighed in on UBSI shares. Zacks Investment Research downgraded United Bankshares from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Boenning Scattergood reissued a “hold” rating on shares of United Bankshares in a report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. United Bankshares has a consensus rating of “Hold” and a consensus target price of $44.50.
In other news, Director Gary G. White bought 1,000 shares of the stock in a transaction on Monday, September 11th. The shares were bought at an average price of $33.33 per share, with a total value of $33,330.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.23% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of UBSI. Teachers Advisors LLC raised its stake in shares of United Bankshares by 6.0% in the first quarter. Teachers Advisors LLC now owns 133,214 shares of the financial services provider’s stock worth $5,628,000 after buying an additional 7,570 shares during the period. Bank of Montreal Can raised its stake in shares of United Bankshares by 854.6% in the second quarter. Bank of Montreal Can now owns 256,981 shares of the financial services provider’s stock worth $10,075,000 after buying an additional 230,060 shares during the period. Chevy Chase Trust Holdings Inc. bought a new position in shares of United Bankshares in the second quarter worth about $316,000. Oregon Public Employees Retirement Fund bought a new position in shares of United Bankshares in the second quarter worth about $1,513,000. Finally, LS Investment Advisors LLC raised its stake in shares of United Bankshares by 202.9% in the second quarter. LS Investment Advisors LLC now owns 8,379 shares of the financial services provider’s stock worth $328,000 after buying an additional 5,613 shares during the period. 62.77% of the stock is currently owned by hedge funds and other institutional investors.
Shares of United Bankshares (NASDAQ UBSI) traded up $0.15 during trading hours on Monday, hitting $35.45. The stock had a trading volume of 515,570 shares, compared to its average volume of 775,244. The company has a market capitalization of $3,706.23, a P/E ratio of 18.58, a P/E/G ratio of 1.84 and a beta of 1.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.06. United Bankshares has a 1 year low of $31.70 and a 1 year high of $49.35.
United Bankshares declared that its board has authorized a share repurchase plan on Monday, August 28th that permits the company to repurchase 2,000,000 outstanding shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be issued a $0.34 dividend. This is an increase from United Bankshares’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, December 7th. This represents a $1.36 dividend on an annualized basis and a yield of 3.84%. United Bankshares’s dividend payout ratio is currently 69.47%.
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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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