Wall Street analysts predict that United Bankshares, Inc. (NASDAQ:UBSI) will report sales of $182.54 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for United Bankshares’ earnings, with the highest sales estimate coming in at $184.10 million and the lowest estimate coming in at $179.97 million. United Bankshares reported sales of $130.09 million in the same quarter last year, which indicates a positive year-over-year growth rate of 40.3%. The business is scheduled to announce its next quarterly earnings results on Thursday, October 26th.
According to Zacks, analysts expect that United Bankshares will report full year sales of $182.54 million for the current year, with estimates ranging from $649.66 million to $664.40 million. For the next fiscal year, analysts expect that the firm will post sales of $744.90 million per share, with estimates ranging from $726.56 million to $757.60 million. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for United Bankshares.
United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.37 earnings per share 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 business had revenue of $176.75 million during the quarter, compared to analyst estimates of $164.09 million. During the same quarter last year, the company posted $0.44 EPS.
A number of equities research analysts have weighed in on UBSI shares. Zacks Investment Research cut United Bankshares from a “buy” rating to a “hold” rating in a research note on Thursday, April 6th. Keefe, Bruyette & Woods set a $44.00 price objective on United Bankshares and gave the company a “hold” rating in a research note on Thursday, April 6th. Boenning Scattergood upgraded United Bankshares from an “underperform” rating to a “neutral” rating in a research note on Thursday, May 18th. Finally, BidaskClub upgraded United Bankshares from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $42.63.
United Bankshares (UBSI) opened at 34.55 on Friday. The firm has a market cap of $3.62 billion, a P/E ratio of 17.55 and a beta of 1.07. United Bankshares has a one year low of $34.25 and a one year high of $49.35. The company has a 50-day moving average of $38.53 and a 200 day moving average of $41.13.
The business also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Friday, June 9th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend was Wednesday, June 7th. United Bankshares’s dividend payout ratio (DPR) is presently 69.47%.
In other news, Director Bernard H. Clineburg sold 1,183 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $39.71, for a total transaction of $46,976.93. Following the completion of the sale, the director now owns 174,765 shares in the company, valued at $6,939,918.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael P. Fitzgerald sold 13,100 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $38.28, for a total value of $501,468.00. Following the sale, the director now owns 245,273 shares of the company’s stock, valued at approximately $9,389,050.44. The disclosure for this sale can be found here. Insiders have sold 27,321 shares of company stock valued at $1,070,486 in the last 90 days. Company insiders own 7.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Everence Capital Management Inc. bought a new stake in United Bankshares during the first quarter valued at approximately $212,000. Louisiana State Employees Retirement System boosted its stake in United Bankshares by 22.2% in the first quarter. Louisiana State Employees Retirement System now owns 33,000 shares of the financial services provider’s stock valued at $1,394,000 after buying an additional 6,000 shares during the period. Viking Fund Management LLC bought a new stake in United Bankshares during the first quarter valued at approximately $3,296,000. Capstone Asset Management Co. boosted its stake in United Bankshares by 4.5% in the first quarter. Capstone Asset Management Co. now owns 15,352 shares of the financial services provider’s stock valued at $649,000 after buying an additional 660 shares during the period. Finally, First National Bank of Omaha boosted its stake in United Bankshares by 33.3% in the first quarter. First National Bank of Omaha now owns 28,022 shares of the financial services provider’s stock valued at $1,184,000 after buying an additional 7,000 shares during the period. Institutional investors and hedge funds own 50.10% of the company’s stock.
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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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