United Bankshares (NASDAQ:UBSI) Lifted to Strong-Buy at BidaskClub

BidaskClub upgraded shares of United Bankshares (NASDAQ:UBSI) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday morning, BidAskClub reports.

Several other research firms have also recently weighed in on UBSI. Zacks Investment Research upgraded shares of United Bankshares from a sell rating to a hold rating in a research report on Friday. ValuEngine cut shares of United Bankshares from a hold rating to a sell rating in a research report on Wednesday, October 2nd.

NASDAQ UBSI traded up $0.17 on Friday, hitting $38.49. The stock had a trading volume of 203,520 shares, compared to its average volume of 390,881. United Bankshares has a 52-week low of $29.13 and a 52-week high of $39.98. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.01 and a current ratio of 1.04. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 15.71 and a beta of 1.23. The firm has a 50-day moving average of $37.80 and a 200-day moving average of $37.33.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.02. The firm had revenue of $190.35 million for the quarter, compared to analysts’ expectations of $183.29 million. United Bankshares had a net margin of 29.01% and a return on equity of 7.90%. During the same quarter last year, the company posted $0.63 EPS. As a group, research analysts anticipate that United Bankshares will post 2.53 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend was Thursday, September 12th. United Bankshares’s dividend payout ratio (DPR) is currently 55.51%.

In related news, Director Mary K. Weddle acquired 2,300 shares of the stock in a transaction dated Thursday, August 15th. The shares were purchased at an average price of $35.19 per share, for a total transaction of $80,937.00. Following the transaction, the director now owns 11,776 shares in the company, valued at approximately $414,397.44. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.62% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio grew its holdings in shares of United Bankshares by 2.6% during the 2nd quarter. Strs Ohio now owns 11,700 shares of the financial services provider’s stock valued at $433,000 after purchasing an additional 300 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of United Bankshares by 1.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 29,562 shares of the financial services provider’s stock valued at $1,096,000 after purchasing an additional 411 shares during the last quarter. LPL Financial LLC grew its holdings in shares of United Bankshares by 5.5% during the 2nd quarter. LPL Financial LLC now owns 8,358 shares of the financial services provider’s stock valued at $310,000 after purchasing an additional 435 shares during the last quarter. Lido Advisors LLC grew its holdings in shares of United Bankshares by 5.2% during the 2nd quarter. Lido Advisors LLC now owns 8,830 shares of the financial services provider’s stock valued at $330,000 after purchasing an additional 440 shares during the last quarter. Finally, First National Bank of Omaha grew its holdings in shares of United Bankshares by 0.3% during the 2nd quarter. First National Bank of Omaha now owns 136,051 shares of the financial services provider’s stock valued at $5,046,000 after purchasing an additional 459 shares during the last quarter. 70.15% of the stock is currently owned by institutional investors.

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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