United Bankshares (NASDAQ:UBSI) Sets New 1-Year High – Here’s Why

United Bankshares, Inc. (NASDAQ:UBSI)’s stock price hit a new 52-week high on Monday . The stock traded as high as $44.09 and last traded at $44.09, with a volume of 13033 shares changing hands. The stock had previously closed at $42.81.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $40.25.

United Bankshares Price Performance

The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The company’s 50-day moving average is $38.46 and its 200-day moving average is $36.06. The stock has a market cap of $5.92 billion, a price-to-earnings ratio of 16.22 and a beta of 0.98.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.67 by $0.03. United Bankshares had a return on equity of 7.58% and a net margin of 22.05%. The company had revenue of $414.67 million for the quarter, compared to analysts’ expectations of $260.30 million. During the same quarter in the prior year, the business earned $0.71 earnings per share. Equities research analysts expect that United Bankshares, Inc. will post 2.73 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Friday, December 13th. United Bankshares’s dividend payout ratio is currently 56.06%.

Insider Buying and Selling

In other news, Director Peter A. Converse sold 5,000 shares of United Bankshares stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $40.00, for a total value of $200,000.00. Following the completion of the sale, the director now directly owns 434,769 shares in the company, valued at approximately $17,390,760. The trade was a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.66% of the stock is currently owned by corporate insiders.

Institutional Trading of United Bankshares

Several institutional investors have recently modified their holdings of the business. Inspire Investing LLC grew its stake in United Bankshares by 2.7% in the 3rd quarter. Inspire Investing LLC now owns 11,095 shares of the financial services provider’s stock valued at $412,000 after buying an additional 291 shares in the last quarter. HighTower Advisors LLC raised its position in shares of United Bankshares by 1.7% in the 3rd quarter. HighTower Advisors LLC now owns 19,542 shares of the financial services provider’s stock worth $730,000 after acquiring an additional 332 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in United Bankshares by 5.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,587 shares of the financial services provider’s stock valued at $214,000 after acquiring an additional 350 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of United Bankshares by 3.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 12,328 shares of the financial services provider’s stock worth $457,000 after purchasing an additional 427 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of United Bankshares by 4.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,367 shares of the financial services provider’s stock valued at $401,000 after acquiring an additional 479 shares in the last quarter. Institutional investors own 70.80% of the company’s stock.

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.