Brokerages expect United Bankshares, Inc. (NASDAQ:UBSI) to announce earnings of $0.54 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for United Bankshares’ earnings. The highest EPS estimate is $0.57 and the lowest is $0.53. United Bankshares also reported earnings of $0.54 per share in the same quarter last year. The firm is expected to issue its next earnings results on Thursday, October 26th.
According to Zacks, analysts expect that United Bankshares will report full year earnings of $1.92 per share for the current financial year, with EPS estimates ranging from $1.88 to $1.97. For the next fiscal year, analysts forecast that the firm will report earnings of $2.17 per share, with EPS estimates ranging from $2.15 to $2.20. Zacks’ EPS averages are a mean average based on a survey of research firms that cover United Bankshares.
United Bankshares (NASDAQ:UBSI) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.14. United Bankshares had a return on equity of 6.42% and a net margin of 25.20%. The company had revenue of $176.75 million during the quarter, compared to analysts’ expectations of $164.09 million. During the same period in the prior year, the business posted $0.44 earnings per share.
UBSI has been the topic of a number of research analyst reports. BidaskClub cut shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Boenning Scattergood upgraded shares of United Bankshares from an “underperform” rating to a “neutral” rating in a report on Thursday, May 18th. Zacks Investment Research upgraded shares of United Bankshares from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Wednesday, June 28th. Finally, Keefe, Bruyette & Woods set a $44.00 price target on shares of United Bankshares and gave the stock a “hold” rating in a report on Thursday, April 6th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $42.63.
United Bankshares (UBSI) remained flat at $34.50 during midday trading on Thursday. The stock had a trading volume of 744,231 shares. The stock’s 50-day moving average price is $38.36 and its 200-day moving average price is $41.00. United Bankshares has a 52 week low of $34.17 and a 52 week high of $49.35. The firm has a market cap of $3.62 billion, a P/E ratio of 18.16 and a beta of 1.07.
The business also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Friday, June 9th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date was Wednesday, June 7th. United Bankshares’s payout ratio is presently 69.47%.
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In related news, Director Michael P. Fitzgerald sold 13,100 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $38.28, for a total value of $501,468.00. Following the completion of the sale, the director now directly owns 245,273 shares of the company’s stock, valued at $9,389,050.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael P. Fitzgerald sold 13,038 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $40.04, for a total transaction of $522,041.52. Following the completion of the sale, the director now directly owns 12,738 shares of the company’s stock, valued at $510,029.52. The disclosure for this sale can be found here. Corporate insiders own 7.50% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its stake in United Bankshares by 3.0% in the fourth quarter. FMR LLC now owns 6,136 shares of the financial services provider’s stock worth $284,000 after buying an additional 181 shares during the period. City Holding Co. raised its stake in United Bankshares by 0.8% in the first quarter. City Holding Co. now owns 24,191 shares of the financial services provider’s stock worth $1,022,000 after buying an additional 200 shares during the period. State of Alaska Department of Revenue raised its stake in United Bankshares by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 8,980 shares of the financial services provider’s stock worth $379,000 after buying an additional 220 shares during the period. LS Investment Advisors LLC raised its stake in United Bankshares by 9.7% in the first quarter. LS Investment Advisors LLC now owns 2,766 shares of the financial services provider’s stock worth $117,000 after buying an additional 244 shares during the period. Finally, TD Asset Management Inc. raised its stake in United Bankshares by 1.4% in the second quarter. TD Asset Management Inc. now owns 21,635 shares of the financial services provider’s stock worth $848,000 after buying an additional 300 shares during the period. 51.56% of the stock is owned by institutional investors.
United Bankshares Company Profile
United Bankshares, Inc (United) is a bank holding company. The Company operates through community banking segment. United’s Banking Subsidiaries offer a range of commercial and retail banking services and products. United, through its subsidiaries, engages in community banking and offers banking products and services permitted by law and regulation.
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