United Bankshares (NASDAQ:UBSI) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of United Bankshares (NASDAQ:UBSI) from a hold rating to a sell rating in a research report released on Saturday,Wall Street Zen reports.

UBSI has been the topic of a number of other reports. Weiss Ratings restated a “buy (b)” rating on shares of United Bankshares in a report on Friday, October 2nd. Raymond James Financial increased their price objective on United Bankshares from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. 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 report on Friday, July 24th. Finally, Keefe, Bruyette & Woods boosted their target price on United Bankshares from $46.00 to $48.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. 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 MarketBeat.com, United Bankshares currently has a consensus rating of “Hold” and an average price target of $49.20.

United Bankshares Trading Up 0.5%

UBSI opened at $48.92 on Friday. The stock has a market capitalization of $6.66 billion, a P/E ratio of 13.26 and a beta of 0.72. United Bankshares has a 12 month low of $34.68 and a 12 month high of $49.62. The firm’s fifty day simple moving average is $47.04 and its 200 day simple moving average is $44.61. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, October 22nd. The financial services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. The firm had revenue of $325.10 million during the quarter, compared to analyst estimates of $327.23 million. United Bankshares had a net margin of 28.03% and a return on equity of 9.37%. During the same period in the prior year, the business earned $0.92 EPS. As a group, research analysts anticipate that United Bankshares will post 3.73 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders 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 yield of 3.1%. United Bankshares’s dividend payout ratio (DPR) is 41.19%.

Insider Activity

In other news, Director Mark Nesselroad sold 3,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $46.42, for a total value of $148,544.00. Following the transaction, the director owned 32,224 shares of the company’s stock, valued at approximately $1,495,838.08. This represents a 9.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.16% of the stock is currently owned by corporate insiders.

Institutional Trading of United Bankshares

Several hedge funds have recently added to or reduced their stakes in the company. Apollon Wealth Management LLC grew its holdings in United Bankshares by 7.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 10,278 shares of the financial services provider’s stock valued at $472,000 after buying an additional 693 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of United Bankshares by 32.0% during the third quarter. Citizens Financial Group Inc. RI now owns 6,610 shares of the financial services provider’s stock worth $306,000 after buying an additional 1,604 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of United Bankshares during the third quarter worth $53,000. Axxcess Wealth Management LLC lifted its holdings in shares of United Bankshares by 1.3% during the third quarter. Axxcess Wealth Management LLC now owns 84,665 shares of the financial services provider’s stock worth $3,889,000 after buying an additional 1,057 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of United Bankshares by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 5,779 shares of the financial services provider’s stock valued at $268,000 after acquiring an additional 1,863 shares during the period. 70.80% of the stock is owned by institutional investors and hedge funds.

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.