Analysts Issue Forecasts for United Bankshares, Inc.’s Q2 2024 Earnings (NASDAQ:UBSI)

United Bankshares, Inc. (NASDAQ:UBSI) – Stock analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of United Bankshares in a note issued to investors on Friday, May 3rd. DA Davidson analyst M. Navas forecasts that the financial services provider will earn $0.64 per share for the quarter. The consensus estimate for United Bankshares’ current full-year earnings is $2.63 per share.

A number of other brokerages have also issued reports on UBSI. Stephens cut their target price on United Bankshares from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Keefe, Bruyette & Woods decreased their target price on United Bankshares from $40.00 to $38.00 and set a “market perform” rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, United Bankshares has a consensus rating of “Hold” and a consensus price target of $37.00.

United Bankshares Stock Performance

Shares of UBSI stock opened at $34.02 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.99 and a current ratio of 1.00. The firm has a market cap of $4.59 billion, a P/E ratio of 12.98 and a beta of 1.01. The firm’s 50 day moving average price is $34.07 and its 200-day moving average price is $34.28. United Bankshares has a one year low of $25.35 and a one year high of $38.74.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). United Bankshares had a net margin of 22.51% and a return on equity of 7.72%. The company had revenue of $401.39 million during the quarter, compared to analyst estimates of $256.80 million. During the same period in the previous year, the company earned $0.74 EPS.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of United Bankshares by 58.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,471 shares of the financial services provider’s stock valued at $3,435,000 after buying an additional 33,812 shares during the period. Verity Asset Management Inc. lifted its stake in United Bankshares by 18.2% in the third quarter. Verity Asset Management Inc. now owns 22,816 shares of the financial services provider’s stock worth $629,000 after acquiring an additional 3,506 shares during the last quarter. Victory Capital Management Inc. grew its holdings in United Bankshares by 2,745.7% during the 4th quarter. Victory Capital Management Inc. now owns 2,835,545 shares of the financial services provider’s stock worth $106,475,000 after acquiring an additional 2,735,901 shares in the last quarter. Anchor Capital Advisors LLC increased its position in shares of United Bankshares by 99.0% in the 4th quarter. Anchor Capital Advisors LLC now owns 50,560 shares of the financial services provider’s stock valued at $1,899,000 after purchasing an additional 25,155 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of United Bankshares by 13.3% in the 4th quarter. New York State Common Retirement Fund now owns 664,599 shares of the financial services provider’s stock valued at $24,956,000 after purchasing an additional 78,022 shares during the last quarter. 70.80% of the stock is owned by institutional investors and hedge funds.

United Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were paid a $0.37 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.48 annualized dividend and a dividend yield of 4.35%. United Bankshares’s dividend payout ratio (DPR) is 56.49%.

About United Bankshares

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.