United Bankshares, Inc. (NASDAQ:UBSI) Announces $0.36 Quarterly Dividend

United Bankshares, Inc. (NASDAQ:UBSIGet Rating) announced a quarterly dividend on Thursday, May 12th, Zacks reports. Investors of record on Friday, June 10th will be given a dividend of 0.36 per share by the financial services provider on Friday, July 1st. This represents a $1.44 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Thursday, June 9th.

United Bankshares has raised its dividend by an average of 1.2% annually over the last three years and has raised its dividend every year for the last 47 years. United Bankshares has a dividend payout ratio of 52.4% meaning its dividend is sufficiently covered by earnings. Analysts expect United Bankshares to earn $2.72 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 52.9%.

United Bankshares stock opened at $34.60 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.18. United Bankshares has a 1-year low of $31.74 and a 1-year high of $42.50. The firm has a market capitalization of $4.73 billion, a PE ratio of 13.31 and a beta of 1.13. The firm’s 50 day simple moving average is $34.71 and its 200 day simple moving average is $36.11.

United Bankshares (NASDAQ:UBSIGet Rating) last posted its quarterly earnings data on Tuesday, April 26th. The financial services provider reported $0.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.60. The business had revenue of $237.53 million for the quarter, compared to analysts’ expectations of $244.47 million. United Bankshares had a net margin of 33.45% and a return on equity of 7.55%. The business’s revenue was up 1483.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 earnings per share. Research analysts forecast that United Bankshares will post 2.58 earnings per share for the current year.

A number of research firms have recently commented on UBSI. Zacks Investment Research upgraded shares of United Bankshares from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Wednesday, May 4th. StockNews.com cut shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, March 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, United Bankshares has a consensus rating of “Hold” and a consensus price target of $38.67.

In other United Bankshares news, Chairman Richard M. Sr Adams, Sr. acquired 7,776 shares of the stock in a transaction that occurred on Friday, April 29th. The stock was bought at an average cost of $33.60 per share, with a total value of $261,273.60. Following the completion of the purchase, the chairman now directly owns 20,557 shares in the company, valued at $690,715.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.22% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd lifted its position in shares of United Bankshares by 74.7% during the first quarter. Covestor Ltd now owns 2,420 shares of the financial services provider’s stock valued at $84,000 after buying an additional 1,035 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of United Bankshares by 11.0% during the first quarter. Mackenzie Financial Corp now owns 7,436 shares of the financial services provider’s stock valued at $259,000 after buying an additional 735 shares during the last quarter. Mariner LLC purchased a new stake in shares of United Bankshares during the first quarter valued at about $351,000. Cetera Advisor Networks LLC lifted its position in shares of United Bankshares by 41.6% during the first quarter. Cetera Advisor Networks LLC now owns 10,429 shares of the financial services provider’s stock valued at $364,000 after buying an additional 3,062 shares during the last quarter. Finally, Heritage Wealth Advisors purchased a new stake in shares of United Bankshares during the fourth quarter valued at about $648,000. 65.77% of the stock is owned by institutional investors and hedge funds.

United Bankshares Company Profile (Get Rating)

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, NOW accounts, and interest-bearing checking accounts.

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Dividend History for United Bankshares (NASDAQ:UBSI)

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