DA Davidson Lifts Earnings Estimates for United Bankshares

United Bankshares, Inc. (NASDAQ:UBSI) – Equities researchers at DA Davidson increased their FY2024 earnings estimates for United Bankshares in a note issued to investors on Wednesday, November 6th. DA Davidson analyst M. Navas now anticipates that the financial services provider will post earnings per share of $2.74 for the year, up from their prior estimate of $2.70. DA Davidson has a “Neutral” rating and a $41.00 price objective on the stock. The consensus estimate for United Bankshares’ current full-year earnings is $2.70 per share. DA Davidson also issued estimates for United Bankshares’ Q4 2024 earnings at $0.67 EPS and FY2025 earnings at $2.88 EPS.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.03. The business had revenue of $414.67 million during the quarter, compared to the consensus estimate of $260.30 million. United Bankshares had a net margin of 22.05% and a return on equity of 7.58%. During the same quarter in the prior year, the firm earned $0.71 earnings per share.

Several other brokerages have also weighed in on UBSI. StockNews.com lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Tuesday. Keefe, Bruyette & Woods upped their price target on United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Finally, Stephens lifted their price objective on United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $40.25.

United Bankshares Stock Up 12.8 %

Shares of NASDAQ:UBSI opened at $42.59 on Thursday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 16.13 and a beta of 0.98. United Bankshares has a fifty-two week low of $29.19 and a fifty-two week high of $42.95. The firm’s 50-day simple moving average is $37.34 and its 200-day simple moving average is $35.34.

United Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.47%. United Bankshares’s dividend payout ratio (DPR) is 56.06%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UBSI. BNP Paribas Financial Markets boosted its holdings in shares of United Bankshares by 77.8% in the 1st quarter. BNP Paribas Financial Markets now owns 69,932 shares of the financial services provider’s stock valued at $2,503,000 after purchasing an additional 30,590 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in United Bankshares during the first quarter valued at about $334,000. Texas Permanent School Fund Corp increased its stake in United Bankshares by 1.1% during the first quarter. Texas Permanent School Fund Corp now owns 117,813 shares of the financial services provider’s stock worth $4,217,000 after acquiring an additional 1,250 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of United Bankshares by 131.9% in the 1st quarter. SG Americas Securities LLC now owns 9,326 shares of the financial services provider’s stock worth $334,000 after purchasing an additional 5,305 shares during the period. Finally, NTV Asset Management LLC lifted its stake in shares of United Bankshares by 94.6% in the 1st quarter. NTV Asset Management LLC now owns 128,309 shares of the financial services provider’s stock valued at $4,592,000 after purchasing an additional 62,377 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.