United Bankshares, Inc. Expected to Post Q2 2024 Earnings of $0.64 Per Share (NASDAQ:UBSI)

United Bankshares, Inc. (NASDAQ:UBSI) – Investment analysts at DA Davidson issued their Q2 2024 earnings estimates for shares of United Bankshares in a research report issued on Friday, May 3rd. DA Davidson analyst M. Navas forecasts that the financial services provider will post earnings per share of $0.64 for the quarter. The consensus estimate for United Bankshares’ current full-year earnings is $2.63 per share.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.01). United Bankshares had a net margin of 22.51% and a return on equity of 7.72%. The business had revenue of $401.39 million during the quarter, compared to analyst estimates of $256.80 million. During the same period in the prior year, the business posted $0.74 earnings per share.

Several other equities research analysts also recently issued reports on UBSI. Keefe, Bruyette & Woods lowered their price objective on shares of United Bankshares from $40.00 to $38.00 and set a “market perform” rating on the stock in a research note on Friday, May 3rd. Stephens dropped their price objective on shares of United Bankshares from $36.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, United Bankshares has a consensus rating of “Hold” and an average price target of $37.00.

United Bankshares Stock Performance

Shares of NASDAQ UBSI opened at $33.92 on Monday. United Bankshares has a 12 month low of $25.35 and a 12 month high of $38.74. The company has a market cap of $4.58 billion, a P/E ratio of 12.95 and a beta of 1.01. The business’s 50 day moving average is $34.06 and its two-hundred day moving average is $34.34. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.36.

United Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were given a $0.37 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.48 annualized dividend and a yield of 4.36%. United Bankshares’s dividend payout ratio (DPR) is currently 56.49%.

Institutional Investors Weigh In On United Bankshares

Institutional investors and hedge funds have recently bought and sold shares of the business. Linden Thomas Advisory Services LLC boosted its position in shares of United Bankshares by 1.5% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 21,419 shares of the financial services provider’s stock valued at $804,000 after acquiring an additional 310 shares in the last quarter. Retirement Systems of Alabama grew its stake in shares of United Bankshares by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 168,997 shares of the financial services provider’s stock valued at $6,346,000 after purchasing an additional 517 shares during the period. Inspire Investing LLC grew its stake in shares of United Bankshares by 4.9% in the 3rd quarter. Inspire Investing LLC now owns 11,099 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 522 shares during the period. Arizona State Retirement System raised its holdings in shares of United Bankshares by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 38,420 shares of the financial services provider’s stock worth $1,060,000 after buying an additional 563 shares in the last quarter. Finally, State of Michigan Retirement System lifted its position in shares of United Bankshares by 1.9% during the 1st quarter. State of Michigan Retirement System now owns 33,013 shares of the financial services provider’s stock worth $1,182,000 after buying an additional 600 shares during the period. Institutional investors own 70.80% of the company’s stock.

About United Bankshares

United Bankshares, Inc, through its subsidiaries, 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.