United Bankshares (NASDAQ:UBSI) Upgraded by Zacks Research to “Strong-Buy” Rating

United Bankshares (NASDAQ:UBSI) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Several other research analysts have also recently issued reports on UBSI. Piper Sandler set a $42.50 target price on shares of United Bankshares and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Weiss Ratings restated a “hold (c)” rating on shares of United Bankshares in a report on Thursday, October 30th. 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.83.

United Bankshares Trading Up 0.5%

United Bankshares stock opened at $35.76 on Wednesday. United Bankshares has a 12 month low of $30.50 and a 12 month high of $44.43. The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of 11.72 and a beta of 0.83. The business’s fifty day simple moving average is $36.47 and its two-hundred day simple moving average is $36.68. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.10.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 8.15% and a net margin of 24.37%.During the same quarter in the previous year, the firm earned $0.70 EPS. As a group, equities analysts predict that United Bankshares will post 2.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On United Bankshares

A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in shares of United Bankshares by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,741,908 shares of the financial services provider’s stock worth $288,076,000 after buying an additional 24,631 shares during the last quarter. Earnest Partners LLC increased its position in United Bankshares by 0.4% during the first quarter. Earnest Partners LLC now owns 4,214,634 shares of the financial services provider’s stock valued at $146,121,000 after acquiring an additional 15,498 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in United Bankshares by 1.2% in the third quarter. Victory Capital Management Inc. now owns 3,624,628 shares of the financial services provider’s stock valued at $134,872,000 after acquiring an additional 42,255 shares during the period. Geode Capital Management LLC boosted its position in United Bankshares by 3.2% in the second quarter. Geode Capital Management LLC now owns 3,590,552 shares of the financial services provider’s stock worth $130,817,000 after purchasing an additional 110,305 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of United Bankshares by 367.5% during the 2nd quarter. First Trust Advisors LP now owns 1,935,979 shares of the financial services provider’s stock valued at $70,528,000 after purchasing an additional 1,521,864 shares during the period. 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.