Analysts predict that United Bankshares, Inc. (NASDAQ:UBSI) will post earnings per share (EPS) of $0.54 for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for United Bankshares’ earnings, with estimates ranging from $0.53 to $0.57. United Bankshares also reported earnings of $0.54 per share during the same quarter last year. The business is expected to report its next quarterly earnings report before the market opens on Thursday, October 26th.
On average, analysts expect that United Bankshares will report full year earnings of $1.92 per share for the current fiscal year, with EPS estimates ranging from $1.88 to $1.97. For the next fiscal year, analysts anticipate that the business will report earnings of $2.19 per share, with EPS estimates ranging from $2.15 to $2.26. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for United Bankshares.
United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.14). The company had revenue of $176.75 million for the quarter, compared to analysts’ expectations of $164.09 million. United Bankshares had a net margin of 25.20% and a return on equity of 6.42%. During the same period in the prior year, the company earned $0.44 earnings per share.
A number of equities analysts have commented on the company. Zacks Investment Research downgraded United Bankshares from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. BidaskClub downgraded United Bankshares from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $42.50.
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In other United Bankshares news, insider William Mark Tatterson purchased 1,000 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were bought at an average price of $32.30 per share, with a total value of $32,300.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Richard M. Sr Adams, Sr. purchased 7,405 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were acquired at an average cost of $33.85 per share, for a total transaction of $250,659.25. Following the acquisition, the chairman now owns 631,170 shares of the company’s stock, valued at approximately $21,365,104.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 15,247 shares of company stock valued at $510,526. 6.23% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. raised its holdings in shares of United Bankshares by 0.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 33,113 shares of the financial services provider’s stock valued at $1,298,000 after buying an additional 182 shares during the last quarter. Sandy Spring Bank raised its holdings in shares of United Bankshares by 1.7% during the second quarter. Sandy Spring Bank now owns 16,272 shares of the financial services provider’s stock valued at $638,000 after buying an additional 277 shares during the last quarter. TD Asset Management Inc. raised its holdings in shares of United Bankshares by 1.4% during the second quarter. TD Asset Management Inc. now owns 21,635 shares of the financial services provider’s stock valued at $848,000 after buying an additional 300 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of United Bankshares by 6.2% during the first quarter. Teacher Retirement System of Texas now owns 6,456 shares of the financial services provider’s stock valued at $273,000 after buying an additional 376 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in shares of United Bankshares by 4.5% during the first quarter. Amalgamated Bank now owns 9,299 shares of the financial services provider’s stock valued at $393,000 after buying an additional 402 shares during the last quarter. 62.25% of the stock is currently owned by institutional investors.
United Bankshares (NASDAQ UBSI) traded up 0.67% during mid-day trading on Monday, reaching $37.35. The company’s stock had a trading volume of 195,322 shares. The stock’s 50-day moving average is $35.13 and its 200-day moving average is $37.58. The firm has a market capitalization of $3.92 billion, a PE ratio of 19.98 and a beta of 1.07. United Bankshares has a 12 month low of $31.70 and a 12 month high of $49.35.
United Bankshares declared that its Board of Directors has approved a share buyback plan on Monday, August 28th that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were paid a $0.33 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.32 dividend on an annualized basis and a yield of 3.56%. United Bankshares’s payout ratio is currently 69.47%.
About United Bankshares
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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