StockNews.com Upgrades United Bankshares (NASDAQ:UBSI) to Hold

United Bankshares (NASDAQ:UBSI) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

A number of other research analysts also recently commented on UBSI. DA Davidson upped their price objective on shares of United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods increased their price target on shares of United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Finally, Stephens boosted their price objective on shares of United Bankshares from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. 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 stock has an average rating of “Hold” and a consensus price target of $40.25.

United Bankshares Stock Performance

NASDAQ:UBSI opened at $42.30 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market cap of $5.72 billion, a PE ratio of 16.02 and a beta of 0.98. The firm has a 50 day simple moving average of $37.81 and a 200-day simple moving average of $35.67. United Bankshares has a 1-year low of $30.68 and a 1-year high of $43.77.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.70 earnings per share 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 during the quarter, compared to the consensus estimate of $260.30 million. During the same period in the previous year, the firm posted $0.71 EPS. On average, equities analysts expect that United Bankshares will post 2.73 EPS for the current year.

Insider Transactions at United Bankshares

In other news, Director Peter A. Converse sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was 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 owns 434,769 shares of the company’s stock, valued at $17,390,760. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.66% of the company’s stock.

Hedge Funds Weigh In On United Bankshares

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. UMB Bank n.a. raised its stake in shares of United Bankshares by 237.6% during the third quarter. UMB Bank n.a. now owns 844 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 594 shares during the period. GAMMA Investing LLC increased its stake in United Bankshares by 253.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,545 shares of the financial services provider’s stock worth $50,000 after buying an additional 1,108 shares during the period. New Covenant Trust Company N.A. acquired a new position in United Bankshares in the 1st quarter worth $79,000. Innealta Capital LLC purchased a new position in United Bankshares in the 2nd quarter valued at about $116,000. Finally, Marathon Strategic Advisors LLC acquired a new stake in shares of United Bankshares during the third quarter valued at about $206,000. 70.80% of the stock is owned by institutional investors and hedge funds.

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.