United Bankshares (NASDAQ:UBSI) Hits New 1-Year High – Still a Buy?

Shares of United Bankshares, Inc. (NASDAQ:UBSI) reached a new 52-week high during trading on Wednesday . The stock traded as high as $40.45 and last traded at $40.2670, with a volume of 446755 shares trading hands. The stock had previously closed at $39.50.

Analyst Ratings Changes

UBSI has been the topic of several recent research reports. Zacks Research upgraded shares of United Bankshares from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 19th. Weiss Ratings restated a “hold (c+)” rating on shares of United Bankshares in a research report on Monday. Finally, Piper Sandler set a $42.50 price objective on United Bankshares and gave the company an “overweight” rating in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.83.

United Bankshares Trading Up 1.9%

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a fifty day moving average of $36.81 and a 200-day moving average of $36.92. The company has a market cap of $5.65 billion, a PE ratio of 13.19 and a beta of 0.81.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, October 23rd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.10. The firm had revenue of $280.90 million during the quarter, compared to analyst estimates of $307.78 million. United Bankshares had a net margin of 24.37% and a return on equity of 8.15%. During the same period in the previous year, the firm earned $0.70 earnings per share. Sell-side analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 12th will be paid a $0.38 dividend. The ex-dividend date is Friday, December 12th. This represents a $1.52 dividend on an annualized basis and a yield of 3.8%. This is an increase from United Bankshares’s previous quarterly dividend of $0.37. United Bankshares’s payout ratio is currently 49.84%.

Institutional Investors Weigh In On United Bankshares

Several hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of United Bankshares in the third quarter valued at about $25,000. Ameritas Advisory Services LLC purchased a new position in United Bankshares during the 2nd quarter valued at about $25,000. Hantz Financial Services Inc. raised its holdings in shares of United Bankshares by 261.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 749 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 542 shares in the last quarter. Bogart Wealth LLC lifted its position in shares of United Bankshares by 655.4% in the 3rd quarter. Bogart Wealth LLC now owns 763 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 662 shares during the period. Finally, Rothschild Investment LLC boosted its stake in shares of United Bankshares by 174.8% during the third quarter. Rothschild Investment LLC now owns 838 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 533 shares in the last quarter. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

United Bankshares Company Profile

United Bankshares, Inc, through its subsidiaries, 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.