United Bankshares, Inc. (NASDAQ:UBSI) announced a quarterly dividend on Friday, November 10th, RTT News reports. Stockholders of record on Friday, December 8th will be paid a dividend of 0.34 per share by the financial services provider on Tuesday, January 2nd. This represents a $1.36 annualized dividend and a dividend yield of 3.98%. This is an increase from United Bankshares’s previous quarterly dividend of $0.33.
United Bankshares has raised its dividend payment by an average of 2.1% per year over the last three years. United Bankshares has a dividend payout ratio of 68.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect United Bankshares to earn $2.16 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 61.1%.
Shares of United Bankshares (NASDAQ:UBSI) opened at $34.15 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 0.42. United Bankshares has a fifty-two week low of $31.70 and a fifty-two week high of $49.35. The firm has a market capitalization of $3,574.99, a P/E ratio of 17.92, a PEG ratio of 1.78 and a beta of 1.03.
United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01). United Bankshares had a return on equity of 6.25% and a net margin of 24.94%. The business had revenue of $188.51 million during the quarter, compared to analysts’ expectations of $193.87 million. During the same quarter in the previous year, the company posted $0.54 earnings per share. The company’s quarterly revenue was up 44.9% compared to the same quarter last year. research analysts anticipate that United Bankshares will post 1.92 EPS for the current year.
In other news, President Richard M. Adams, Jr. acquired 2,342 shares of United Bankshares stock in a transaction on Monday, August 14th. The shares were bought at an average cost of $33.25 per share, for a total transaction of $77,871.50. Following the acquisition, the president now directly owns 51,867 shares of the company’s stock, valued at approximately $1,724,577.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Mark Tatterson acquired 1,000 shares of United Bankshares stock in a transaction on Monday, August 14th. The shares were purchased at an average price of $32.30 per share, for a total transaction of $32,300.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 15,247 shares of company stock worth $510,526 over the last 90 days. 6.23% of the stock is currently owned by company insiders.
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United Bankshares announced that its Board of Directors has authorized a stock repurchase program on Monday, August 28th that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
Several equities research analysts have recently weighed in on the company. BidaskClub downgraded United Bankshares from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. Boenning Scattergood restated a “hold” rating on shares of United Bankshares in a report on Friday, October 27th. Finally, Zacks Investment Research upgraded United Bankshares from a “sell” rating to a “hold” rating in a report on Thursday, September 28th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $42.50.
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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