United Bankshares (NASDAQ:UBSI) Sets New 1-Year High – What’s Next?

United Bankshares, Inc. (NASDAQ:UBSI) shares reached a new 52-week high during trading 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.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Raymond James Financial restated an “outperform” rating and set a $49.00 price target on shares of United Bankshares in a research note on Monday, April 27th. Wall Street Zen downgraded United Bankshares from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. 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, Hovde Group began coverage on shares of United Bankshares in a report on Wednesday. They issued a “market perform” rating and a $49.00 target price on the stock. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, United Bankshares has a consensus rating of “Hold” and a consensus price target of $46.40.

United Bankshares Trading Up 0.3%

The company has a 50 day simple moving average of $43.69 and a 200 day simple moving average of $42.08. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $6.31 billion, a PE ratio of 12.83 and a beta of 0.71.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share for the quarter, beating 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 company had revenue of $316.58 million for the quarter, compared to the consensus estimate of $315.15 million. During the same period last year, the business posted $0.59 EPS. Analysts predict that United Bankshares, Inc. will post 3.64 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, June 12th. This represents a $1.52 dividend on an annualized basis and a yield of 3.3%. United Bankshares’s dividend payout ratio is presently 42.58%.

Institutional Trading of United Bankshares

Several hedge funds and other institutional investors have recently made changes to their positions in UBSI. Norges Bank purchased a new position in United Bankshares during the fourth quarter worth about $68,366,000. Vaughan Nelson Investment Management L.P. acquired a new position in United Bankshares during the 1st quarter worth approximately $34,476,000. AQR Capital Management LLC increased its position in United Bankshares by 74.7% during the 4th quarter. AQR Capital Management LLC now owns 1,625,205 shares of the financial services provider’s stock worth $62,408,000 after purchasing an additional 694,953 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of United Bankshares by 75.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,177,051 shares of the financial services provider’s stock worth $45,199,000 after buying an additional 504,986 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of United Bankshares by 64.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 782,292 shares of the financial services provider’s stock worth $29,109,000 after buying an additional 307,159 shares in the last quarter. Hedge funds and other institutional investors own 70.80% of the company’s stock.

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.