Wall Street brokerages expect United Bankshares, Inc. (NASDAQ:UBSI) to report sales of $184.65 million for the current quarter, Zacks reports. Three analysts have provided estimates for United Bankshares’ earnings, with estimates ranging from $182.28 million to $186.20 million. United Bankshares posted sales of $176.75 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.5%. The firm is scheduled to issue its next quarterly earnings results on Thursday, July 26th.
On average, analysts expect that United Bankshares will report full-year sales of $738.52 million for the current year, with estimates ranging from $731.59 million to $743.03 million. For the next financial year, analysts expect that the company will post sales of $769.67 million per share, with estimates ranging from $758.78 million to $779.80 million. Zacks’ sales averages are an average based on a survey of research firms that cover United Bankshares.
United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, April 26th. The financial services provider reported $0.59 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.59. The firm had revenue of $176.74 million for the quarter, compared to the consensus estimate of $180.16 million. United Bankshares had a return on equity of 6.50% and a net margin of 21.34%. The business’s quarterly revenue was up 36.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 EPS.
Several large investors have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of United Bankshares by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 455,231 shares of the financial services provider’s stock valued at $16,046,000 after purchasing an additional 9,203 shares during the period. Navellier & Associates Inc acquired a new position in shares of United Bankshares in the 1st quarter valued at about $411,000. Xact Kapitalforvaltning AB lifted its stake in shares of United Bankshares by 45.6% in the 1st quarter. Xact Kapitalforvaltning AB now owns 14,046 shares of the financial services provider’s stock valued at $495,000 after purchasing an additional 4,400 shares during the period. Royal Bank of Canada lifted its stake in shares of United Bankshares by 15.0% in the 1st quarter. Royal Bank of Canada now owns 298,892 shares of the financial services provider’s stock valued at $10,536,000 after purchasing an additional 38,962 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of United Bankshares by 12.7% in the 1st quarter. Legal & General Group Plc now owns 127,077 shares of the financial services provider’s stock valued at $4,479,000 after purchasing an additional 14,368 shares during the period. 70.15% of the stock is currently owned by institutional investors.
Shares of United Bankshares opened at $36.60 on Wednesday, according to MarketBeat. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 19.26, a P/E/G ratio of 1.90 and a beta of 1.05. United Bankshares has a 12 month low of $31.70 and a 12 month high of $40.95. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.00 and a current ratio of 1.02.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 8th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Thursday, June 7th. United Bankshares’s dividend payout ratio is 71.58%.
About United Bankshares
United Bankshares, Inc, a financial holding company, 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.
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