United Bank (UBSI) Upgraded at BidaskClub

United Bank (NASDAQ:UBSI) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Friday.

Other equities research analysts have also recently issued reports about the company. TheStreet upgraded United Bank from a “c+” rating to a “b-” rating in a research note on Wednesday, February 21st. Zacks Investment Research cut United Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. DA Davidson cut their target price on United Bank from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Friday, April 27th. Finally, ValuEngine cut United Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. United Bank has an average rating of “Hold” and an average price target of $39.33.

UBSI stock opened at $35.95 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 1.81 and a beta of 1.04. United Bank has a 1 year low of $35.35 and a 1 year high of $35.65.

United Bank (NASDAQ:UBSI) last posted its earnings results on Thursday, April 26th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. The company had revenue of $176.74 million for the quarter, compared to analysts’ expectations of $180.16 million. United Bank had a return on equity of 6.50% and a net margin of 21.34%. The firm’s quarterly revenue was up 36.7% compared to the same quarter last year. During the same period last year, the business posted $0.48 earnings per share. analysts predict that United Bank will post 2.46 EPS for the current year.

In other news, Director Peter A. Converse sold 22,500 shares of the firm’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $37.74, for a total transaction of $849,150.00. Following the transaction, the director now directly owns 491,810 shares of the company’s stock, valued at $18,560,909.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.15% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. OppenheimerFunds Inc. increased its holdings in shares of United Bank by 23.1% during the fourth quarter. OppenheimerFunds Inc. now owns 8,206 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 1,542 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of United Bank by 42.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,765 shares of the financial services provider’s stock valued at $200,000 after purchasing an additional 1,712 shares during the period. Teachers Advisors LLC increased its holdings in shares of United Bank by 0.9% during the fourth quarter. Teachers Advisors LLC now owns 194,638 shares of the financial services provider’s stock valued at $6,764,000 after purchasing an additional 1,726 shares during the period. Tyers Asset Management LLC increased its holdings in shares of United Bank by 32.8% during the fourth quarter. Tyers Asset Management LLC now owns 7,248 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 1,792 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in shares of United Bank by 5.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 40,600 shares of the financial services provider’s stock valued at $1,411,000 after purchasing an additional 2,100 shares during the period. 69.52% of the stock is currently owned by institutional investors.

United Bank Company Profile

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.

Receive News & Ratings for United Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Bank and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply