United Bankshares (NASDAQ:UBSI) Sets New 52-Week High – Still a Buy?

United Bankshares, Inc. (NASDAQ:UBSI) shares reached a new 52-week high on Wednesday . The stock traded as high as $46.59 and last traded at $46.6550, with a volume of 232861 shares traded. The stock had previously closed at $45.83.

Analyst Ratings Changes

UBSI has been the subject of a number of recent analyst reports. Hovde Group began coverage on United Bankshares in a research report on Wednesday, June 24th. They set a “market perform” rating and a $49.00 target price for the company. Raymond James Financial lifted their price target on shares of United Bankshares from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday. Wall Street Zen cut shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Zacks Research downgraded shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $46.60.

United Bankshares Trading Down 1.2%

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 $6.39 billion, a P/E ratio of 12.99 and a beta of 0.71. The business’s fifty day simple moving average is $43.98 and its two-hundred day simple moving average is $42.40.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.04. The company had revenue of $316.58 million for the quarter, compared to the consensus estimate of $315.15 million. United Bankshares had a net margin of 27.45% and a return on equity of 9.26%. During the same quarter in the previous year, the firm posted $0.59 EPS. As a group, analysts forecast that United Bankshares, Inc. will post 3.64 earnings per share for the current year.

United Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 12th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, June 12th. United Bankshares’s payout ratio is currently 42.58%.

Hedge Funds Weigh In On United Bankshares

Large investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of United Bankshares during the 3rd quarter worth approximately $25,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of United Bankshares in the fourth quarter valued at $26,000. Farther Finance Advisors LLC lifted its position in United Bankshares by 196.2% in the fourth quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 567 shares during the period. Root Financial Partners LLC lifted its position in United Bankshares by 64.4% in the first quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 308 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in United Bankshares by 528.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 988 shares during the period. Institutional investors and hedge funds own 70.80% of the company’s stock.

United Bankshares Company Profile

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.