United Bankshares (NASDAQ:UBSI) Releases Earnings Results, Beats Estimates By $0.07 EPS

United Bankshares (NASDAQ:UBSI) issued its quarterly earnings results on Thursday. The financial services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.07, Briefing.com reports. United Bankshares had a return on equity of 7.77% and a net margin of 22.44%. The firm had revenue of $255.94 million for the quarter, compared to the consensus estimate of $255.54 million. During the same period in the prior year, the business posted $0.68 earnings per share. The company’s revenue for the quarter was down 2.6% on a year-over-year basis.

United Bankshares Stock Up 2.6 %

NASDAQ:UBSI opened at $39.32 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $5.32 billion, a PE ratio of 15.01 and a beta of 1.00. The company has a 50-day moving average of $33.18 and a 200 day moving average of $34.17. United Bankshares has a 1-year low of $25.35 and a 1-year high of $39.86.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.48 annualized dividend and a dividend yield of 3.76%. United Bankshares’s payout ratio is currently 56.49%.

Analyst Upgrades and Downgrades

UBSI has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their target price on United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a research note on Friday. Stephens upped their price target on shares of United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday. StockNews.com upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a report on Friday. Finally, DA Davidson upped their target price on shares of United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $39.20.

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.