United Bankshares, Inc. Announces Quarterly Dividend of $0.37 (NASDAQ:UBSI)

United Bankshares, Inc. (NASDAQ:UBSI) announced a quarterly dividend on Friday, November 8th,Zacks Dividends reports. Stockholders of record on Friday, December 13th will be given a dividend of 0.37 per share by the financial services provider on Thursday, January 2nd. This represents a $1.48 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend is Friday, December 13th.

United Bankshares has increased its dividend by an average of 1.2% annually over the last three years and has increased its dividend annually for the last 25 consecutive years. United Bankshares has a payout ratio of 57.6% meaning its dividend is sufficiently covered by earnings. Analysts expect United Bankshares to earn $2.71 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 54.6%.

United Bankshares Stock Up 1.0 %

UBSI stock traded up $0.43 during midday trading on Wednesday, reaching $41.73. 25,697 shares of the company’s stock traded hands, compared to its average volume of 519,648. United Bankshares has a 52 week low of $30.68 and a 52 week high of $44.43. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 15.64 and a beta of 1.01. The firm’s fifty day moving average price is $39.62 and its 200-day moving average price is $36.74. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.11.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating 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 previous year, the firm earned $0.71 earnings per share. As a group, sell-side analysts forecast that United Bankshares will post 2.73 earnings per share for the current fiscal year.

Insider Transactions at United Bankshares

In other United Bankshares news, Director J Paul Mcnamara sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $42.86, for a total transaction of $107,150.00. Following the transaction, the director now owns 63,409 shares in the company, valued at approximately $2,717,709.74. This represents a 3.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $200,000.00. Following the transaction, the director now owns 434,769 shares of the company’s stock, valued at $17,390,760. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.66% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.