United Bankshares (NASDAQ:UBSI – Get Rating) released quarterly earnings data on Thursday. The financial services provider reported earnings of $0.74 per share for the quarter, missing analyst consensus expectations of $0.78 ($0.04), Briefing.com reports. . United Bankshares had a net profit margin of 33.19% and a return on equity of 7.76%. The company posted revenue of $338.62 million for the quarter, compared to consensus expectations of $275.77 million. During the same quarter last year, the company earned his EPS of $0.56.
United Bankshares stock up 0.2%
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NASDAQ:UBSI opened Friday at $39.67. His one year low on United Bankshares is $33.11 and his one year high is $44.15. The company has a 50-day moving average of $40.62 and a 200-day moving average of $39.16. The company has a market capitalization of $5.34 billion, a PE ratio of 15.06 and a beta of 1.08. The company has a debt to equity ratio of 0.29, a current ratio of 0.91 and a quick ratio of 0.90.
United Bankshares Dividend Notice
The company recently announced its quarterly dividend, which was paid on Tuesday, January 3rd. A dividend of $0.36 was paid out to record investors on Friday, December 9. This represents his $1.44 dividend and his 3.63% yield on an annual basis. The ex-dividend date was Thursday, December 8. United Bankshares’ dividend payout ratio (DPR) is currently 54.75%.
Analyst sets new price target
Many research analysts put a lot of weight on stock prices. Piper Sandler reiterated her “neutral” rating and set a price target of $45.00 for United Bankshares in her research report on Monday, Dec. 5. StockNews.com downgraded United Bankshares stock from an “hold” rating to a “sell” rating in a research report on Wednesday, January 11. One analyst gave a sell rating, two gave a hold rating, and two assigned a buy rating to the company. According to MarketBeat.com, United Bankshares has an average rating of “pending” and a consensus price target of $41.33.
In related news, director J Paul Mcnamara sold 2,500 shares of the company’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $42.75 for a total of $106,875.00. Following the completion of the sale, the directors now directly own 62,699 shares of the Company’s stock valued at $2,680,382.25. The transaction was disclosed in legal filings with the SEC that can be accessed via this hyperlink. His 4.22% of shares are owned by insiders.
United Bankshares Institutional Trading
A hedge fund recently adjusted its stake in the company. Covestor Ltd increased his position in United Bankshares shares by 74.7% in the first quarter. Covestor Ltd now owns 2,420 shares of the financial services provider worth $84,000 after purchasing an additional 1,035 of his shares during the previous quarter. Pathstone Family Office LLC purchased new shares in United Bankshares worth approximately $202,000 in the third quarter. Mackenzie Financial Corp increased its position in United Bankshares stock by 11.0% in the first quarter. Mackenzie Financial Corp now owns 7,436 shares of the financial services provider worth $259,000 after purchasing an additional 735 shares during the previous quarter. Mariner LLC purchased new United Bankshares shares in the first quarter, valued at approximately $351,000. Finally, Cetera Advisor Networks LLC increased its position in United Bankshares stock by 41.6% in the first quarter. Cetera Advisor Networks LLC now owns 10,429 shares of the financial services provider worth $364,000 after purchasing an additional 3,062 shares in the previous quarter. 68.73% of the shares are owned by hedge funds and other institutional investors.
About United BankShares
United Bankshares, Inc is a bank holding company engaged in the provision of commercial and retail banking services and products. It operates through its Community Banking, Mortgage Banking and Other segments. The Community Banking segment consists of both commercial and consumer loans and provides customers with products such as commercial loans, real estate loans, business loans and consumer loans.
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