Wall Street brokerages expect United Bankshares, Inc. (NASDAQ:UBSI) to report sales of $175.96 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for United Bankshares’ earnings, with the lowest sales estimate coming in at $175.00 million and the highest estimate coming in at $176.92 million. United Bankshares posted sales of $176.53 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 0.3%. The firm is expected to issue its next earnings results on Tuesday, February 4th.
According to Zacks, analysts expect that United Bankshares will report full-year sales of $725.80 million for the current fiscal year, with estimates ranging from $724.80 million to $726.80 million. For the next year, analysts forecast that the business will post sales of $705.19 million, with estimates ranging from $702.70 million to $707.68 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for United Bankshares.
United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.02. The company had revenue of $185.06 million during the quarter, compared to analysts’ expectations of $181.44 million. United Bankshares had a net margin of 28.68% and a return on equity of 7.89%. United Bankshares’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.62 earnings per share.
In related news, Director Mary K. Weddle bought 2,300 shares of United Bankshares stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $35.19 per share, for a total transaction of $80,937.00. Following the completion of the acquisition, the director now directly owns 11,776 shares of the company’s stock, valued at approximately $414,397.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.62% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Great Lakes Advisors LLC boosted its holdings in United Bankshares by 5.6% in the third quarter. Great Lakes Advisors LLC now owns 168,428 shares of the financial services provider’s stock valued at $6,379,000 after acquiring an additional 8,880 shares during the last quarter. Vestmark Advisory Solutions Inc. boosted its holdings in United Bankshares by 17.3% in the third quarter. Vestmark Advisory Solutions Inc. now owns 10,006 shares of the financial services provider’s stock valued at $379,000 after acquiring an additional 1,473 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in United Bankshares by 16.6% in the third quarter. Tower Research Capital LLC TRC now owns 3,286 shares of the financial services provider’s stock valued at $124,000 after acquiring an additional 468 shares during the last quarter. GW&K Investment Management LLC boosted its holdings in United Bankshares by 8.5% in the third quarter. GW&K Investment Management LLC now owns 518,792 shares of the financial services provider’s stock valued at $19,647,000 after acquiring an additional 40,498 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in United Bankshares by 191.9% in the third quarter. SG Americas Securities LLC now owns 38,424 shares of the financial services provider’s stock valued at $1,455,000 after acquiring an additional 25,259 shares during the last quarter. Institutional investors and hedge funds own 70.22% of the company’s stock.
Shares of United Bankshares stock traded up $0.33 during trading on Thursday, reaching $40.59. The company’s stock had a trading volume of 323,700 shares, compared to its average volume of 429,056. The business’s 50-day moving average price is $38.63 and its 200-day moving average price is $37.53. United Bankshares has a 52 week low of $29.13 and a 52 week high of $40.70. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.51. The firm has a market cap of $4.10 billion, a PE ratio of 16.57 and a beta of 1.22.
United Bankshares Company Profile
United Bankshares, Inc, a financial holding company, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts.
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