United Bankshares (NASDAQ:UBSI) Announces Earnings Results, Beats Expectations By $0.01 EPS

United Bankshares (NASDAQ:UBSI) issued its quarterly earnings results on Thursday. The financial services provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01, Zacks reports. United Bankshares had a return on equity of 9.39% and a net margin of 27.97%. During the same quarter last year, the company earned $0.92 EPS.

United Bankshares Price Performance

UBSI traded up $0.53 during trading on Thursday, reaching $47.71. The stock had a trading volume of 148,517 shares, compared to its average volume of 951,341. The stock has a market cap of $6.50 billion, a PE ratio of 13.03 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.98. United Bankshares has a one year low of $34.68 and a one year high of $49.62. The business has a 50-day moving average of $47.05 and a 200-day moving average of $45.75.

United Bankshares Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently weighed in on UBSI. Wall Street Zen upgraded United Bankshares from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Raymond James Financial boosted their price objective on United Bankshares from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of United Bankshares in a report on Friday, October 2nd. Keefe, Bruyette & Woods increased their target price on shares of United Bankshares from $46.00 to $48.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Finally, Hovde Group increased their target price on shares of United Bankshares from $49.00 to $50.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $47.80.

Insider Transactions at United Bankshares

In other news, Director Mark Nesselroad sold 3,200 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $46.42, for a total value of $148,544.00. Following the completion of the sale, the director directly owned 32,224 shares in the company, valued at approximately $1,495,838.08. The trade was a 9.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.16% of the stock is currently owned by corporate insiders.

About United Bankshares

United Bankshares, Inc is a financial holding company that operates through its subsidiary, United Bank. The company provides a broad range of banking and financial services to individuals, businesses, nonprofit organizations and government entities.

United Bank’s offerings include checking and savings accounts, certificates of deposit, residential and commercial real estate lending, consumer loans, commercial and industrial financing, treasury management and online and mobile banking.