Equities research analysts expect United Bankshares, Inc. (NASDAQ:UBSI) to report $191.43 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for United Bankshares’ earnings. The lowest sales estimate is $187.50 million and the highest is $195.85 million. United Bankshares posted sales of $130.09 million during the same quarter last year, which suggests a positive year-over-year growth rate of 47.2%. The business is scheduled to issue its next earnings results before the market opens on Thursday, October 26th.
According to Zacks, analysts expect that United Bankshares will report full-year sales of $191.43 million for the current financial year, with estimates ranging from $677.79 million to $692.12 million. For the next year, analysts expect that the company will report sales of $758.39 million per share, with estimates ranging from $725.30 million to $774.98 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow United Bankshares.
United Bankshares (NASDAQ:UBSI) last released its quarterly 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). The firm had revenue of $176.75 million for the quarter, compared to analysts’ expectations of $164.09 million. United Bankshares had a net margin of 25.20% and a return on equity of 6.42%. During the same period in the previous year, the company posted $0.44 earnings per share.
A number of equities research analysts have weighed in on UBSI shares. BidaskClub cut United Bankshares from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research upgraded United Bankshares from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. United Bankshares has a consensus rating of “Hold” and an average target price of $42.50.
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In related news, insider William Mark Tatterson bought 1,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were acquired at an average price of $32.30 per share, with a total value of $32,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Richard M. Adams, Jr. bought 2,342 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was bought at an average cost of $33.25 per share, for a total transaction of $77,871.50. Following the acquisition, the president now owns 51,867 shares of the company’s stock, valued at approximately $1,724,577.75. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 15,247 shares of company stock valued at $510,526. 6.23% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers acquired a new position in shares of United Bankshares in the second quarter valued at approximately $408,000. Ameritas Investment Partners Inc. increased its holdings in shares of United Bankshares by 210.5% in the second quarter. Ameritas Investment Partners Inc. now owns 54,260 shares of the financial services provider’s stock valued at $2,126,000 after purchasing an additional 36,786 shares during the period. Nomura Holdings Inc. acquired a new position in shares of United Bankshares in the second quarter valued at approximately $579,000. California State Teachers Retirement System increased its holdings in shares of United Bankshares by 29.0% in the second quarter. California State Teachers Retirement System now owns 177,274 shares of the financial services provider’s stock valued at $6,949,000 after purchasing an additional 39,902 shares during the period. Finally, Bank of Nova Scotia acquired a new position in shares of United Bankshares in the second quarter valued at approximately $498,000. 62.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of United Bankshares (NASDAQ:UBSI) opened at 37.175 on Wednesday. United Bankshares has a 52-week low of $31.70 and a 52-week high of $49.35. The firm’s 50 day moving average is $35.01 and its 200 day moving average is $37.58. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 19.890 and a beta of 1.07.
United Bankshares announced that its Board of Directors has authorized a share buyback plan on Monday, August 28th that permits the company to repurchase 2,000,000 shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date was Thursday, September 7th. United Bankshares’s dividend payout ratio is currently 69.47%.
About United Bankshares
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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