United Bankshares, Inc. (UBSI) To Go Ex-Dividend on June 9th

United Bankshares, Inc. (NASDAQ:UBSIGet Rating) announced a quarterly dividend on Thursday, May 12th, Zacks reports. Stockholders 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 dividend yield of 4.16%. The ex-dividend date of this dividend is Thursday, June 9th.

United Bankshares has increased its dividend payment by an average of 1.2% per year over the last three years and has raised its dividend annually for the last 47 consecutive years. United Bankshares has a dividend payout ratio of 52.4% meaning its dividend is sufficiently covered by earnings. Equities 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%.

UBSI 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 12-month low of $31.74 and a 12-month high of $42.50. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of 13.31 and a beta of 1.13. The business’s 50-day moving average is $34.71 and its 200 day 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 (EPS) for the quarter, hitting the consensus estimate of $0.60. United Bankshares had a return on equity of 7.55% and a net margin of 33.45%. The company had revenue of $237.53 million for the quarter, compared to analysts’ expectations of $244.47 million. During the same period in the previous year, the firm posted $0.40 EPS. United Bankshares’s revenue was up 1483.5% compared to the same quarter last year. As a group, equities analysts forecast that United Bankshares will post 2.58 EPS for the current fiscal year.

In other news, Chairman Richard M. Sr Adams, Sr. purchased 7,776 shares of United Bankshares stock in a transaction dated Friday, April 29th. The shares were purchased at an average price of $33.60 per share, with a total value of $261,273.60. Following the transaction, the chairman now owns 20,557 shares in the company, valued at $690,715.20. The purchase was disclosed in a document filed with the SEC, which is available through this link. 4.22% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Covestor Ltd raised its position in United Bankshares by 74.7% in the first quarter. Covestor Ltd now owns 2,420 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 1,035 shares during the period. Mackenzie Financial Corp grew its stake in shares of United Bankshares by 11.0% in the first quarter. Mackenzie Financial Corp now owns 7,436 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 735 shares in the last quarter. Mariner LLC acquired a new position in shares of United Bankshares during the first quarter worth $351,000. Cetera Advisor Networks LLC boosted its stake in United Bankshares by 41.6% in the first quarter. Cetera Advisor Networks LLC now owns 10,429 shares of the financial services provider’s stock valued at $364,000 after acquiring an additional 3,062 shares in the last quarter. Finally, Heritage Wealth Advisors acquired a new position in United Bankshares in the fourth quarter valued at $648,000. 65.77% of the stock is currently owned by institutional investors.

Several research analysts have recently weighed in on the company. Zacks Investment Research upgraded United Bankshares from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Wednesday, May 4th. StockNews.com cut United Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, March 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, United Bankshares currently has an average rating of “Hold” and a consensus target price of $38.67.

About United Bankshares (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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