Analysts Set United Bankshares, Inc. (NASDAQ:UBSI) Target Price at $47.80

United Bankshares, Inc. (NASDAQ:UBSI) has earned an average recommendation of “Hold” from the seven research firms that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $47.80.

A number of brokerages have issued reports on UBSI. Raymond James Financial increased their price target on United Bankshares from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Keefe, Bruyette & Woods boosted their price objective on United Bankshares from $46.00 to $48.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of United Bankshares in a research note on Monday, July 6th. Wall Street Zen upgraded United Bankshares from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Hovde Group lifted their target price on United Bankshares from $49.00 to $50.00 and gave the company a “market perform” rating in a research note on Friday, July 24th.

Hedge Funds Weigh In On United Bankshares

Several hedge funds have recently modified their holdings of UBSI. Caitong International Asset Management Co. Ltd bought a new stake in United Bankshares in the 3rd quarter valued at $25,000. Eurizon Capital SGR S.p.A. purchased a new stake in United Bankshares in the 4th quarter worth $26,000. Farther Finance Advisors LLC boosted its holdings in shares of United Bankshares by 196.2% during the 4th quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 567 shares during the last quarter. Root Financial Partners LLC boosted its holdings in shares of United Bankshares by 64.4% during the 1st quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 308 shares during the last quarter. Finally, Allworth Financial LP purchased a new position in shares of United Bankshares during the second quarter valued at about $43,000. Hedge funds and other institutional investors own 70.80% of the company’s stock.

United Bankshares Stock Performance

UBSI opened at $47.60 on Monday. The company has a 50 day simple moving average of $47.40 and a two-hundred day simple moving average of $44.37. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.97. The firm has a market cap of $6.48 billion, a P/E ratio of 12.97 and a beta of 0.71. United Bankshares has a 1-year low of $34.10 and a 1-year high of $49.62.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.89 by $0.06. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. The firm had revenue of $323.82 million for the quarter, compared to the consensus estimate of $320.07 million. During the same period last year, the firm earned $0.85 EPS. Equities analysts forecast that United Bankshares will post 3.71 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, September 11th. United Bankshares’s dividend payout ratio (DPR) is 41.42%.

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.