United Bankshares (UBSI) Downgraded by BidaskClub to Sell

BidaskClub lowered shares of United Bankshares (NASDAQ:UBSI) from a hold rating to a sell rating in a report released on Thursday morning.

A number of other analysts have also commented on the company. Zacks Investment Research lowered United Bankshares from a hold rating to a sell rating in a report on Tuesday, October 31st. Boenning Scattergood reissued a hold rating on shares of United Bankshares in a report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock has an average rating of Hold and a consensus target price of $44.50.

Shares of United Bankshares (UBSI) traded down $0.30 on Thursday, reaching $35.70. The company’s stock had a trading volume of 542,400 shares, compared to its average volume of 764,832. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.06 and a quick ratio of 1.04. The company has a market cap of $3,779.73, a price-to-earnings ratio of 18.95, a P/E/G ratio of 1.88 and a beta of 1.05. United Bankshares has a 1 year low of $31.70 and a 1 year high of $49.35.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The company had revenue of $188.51 million for the quarter, compared to the consensus estimate of $193.87 million. United Bankshares had a return on equity of 6.25% and a net margin of 24.94%. The business’s revenue for the quarter was up 44.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 earnings per share. analysts expect that United Bankshares will post 1.92 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be issued a dividend of $0.34 per share. This is a positive change from United Bankshares’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Thursday, December 7th. United Bankshares’s payout ratio is currently 69.47%.

United Bankshares declared that its board has initiated a stock repurchase plan on Monday, August 28th that allows the company to repurchase 2,000,000 shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

In other United Bankshares news, Director Gary G. White bought 1,000 shares of United Bankshares stock in a transaction dated Monday, September 11th. The stock was bought at an average cost of $33.33 per share, with a total value of $33,330.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.23% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in UBSI. Tower Research Capital LLC TRC bought a new position in shares of United Bankshares in the second quarter valued at approximately $135,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of United Bankshares by 62.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,053 shares of the financial services provider’s stock valued at $159,000 after acquiring an additional 1,563 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of United Bankshares in the third quarter valued at approximately $216,000. Riverhead Capital Management LLC grew its holdings in shares of United Bankshares by 102.8% in the second quarter. Riverhead Capital Management LLC now owns 5,678 shares of the financial services provider’s stock valued at $223,000 after acquiring an additional 2,878 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new position in shares of United Bankshares in the third quarter valued at approximately $241,000. 65.56% of the stock is owned by institutional investors.

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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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