United Bankshares, Inc. (NASDAQ:UBSI) Expected to Post Quarterly Sales of $246.64 Million

Wall Street brokerages forecast that United Bankshares, Inc. (NASDAQ:UBSI) will announce $246.64 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for United Bankshares’ earnings, with the lowest sales estimate coming in at $246.40 million and the highest estimate coming in at $246.88 million. United Bankshares posted sales of $286.07 million during the same quarter last year, which indicates a negative year-over-year growth rate of 13.8%. The company is scheduled to issue its next quarterly earnings report on Thursday, January 27th.

On average, analysts expect that United Bankshares will report full year sales of $1.03 billion for the current year. For the next year, analysts forecast that the business will post sales of $1.02 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow United Bankshares.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Monday, October 25th. The financial services provider reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.05. The company had revenue of $250.20 million during the quarter, compared to analyst estimates of $242.49 million. United Bankshares had a net margin of 34.27% and a return on equity of 8.85%. During the same quarter last year, the business posted $0.80 earnings per share.

UBSI has been the topic of a number of recent research reports. DA Davidson cut shares of United Bankshares from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $44.00 to $38.00 in a research note on Wednesday, December 15th. Zacks Investment Research raised shares of United Bankshares from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Friday, January 7th. Boenning Scattergood reaffirmed a “neutral” rating on shares of United Bankshares in a research note on Wednesday, September 29th. Finally, Raymond James raised their price objective on shares of United Bankshares from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, October 27th.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its position in shares of United Bankshares by 6.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 35,100 shares of the financial services provider’s stock worth $1,273,000 after purchasing an additional 2,100 shares in the last quarter. Stratos Wealth Advisors LLC bought a new position in shares of United Bankshares during the fourth quarter worth $212,000. Crossmark Global Holdings Inc. boosted its position in shares of United Bankshares by 8.2% during the fourth quarter. Crossmark Global Holdings Inc. now owns 10,670 shares of the financial services provider’s stock worth $387,000 after purchasing an additional 813 shares in the last quarter. Balyasny Asset Management LLC acquired a new stake in shares of United Bankshares during the third quarter worth $1,313,000. Finally, EP Wealth Advisors LLC acquired a new stake in shares of United Bankshares during the third quarter worth $3,045,000. 67.50% of the stock is currently owned by institutional investors.

Shares of United Bankshares stock opened at $39.28 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.95 and a quick ratio of 0.93. The firm has a market cap of $5.08 billion, a P/E ratio of 13.18 and a beta of 1.25. The firm has a 50 day simple moving average of $37.18 and a 200 day simple moving average of $36.11. United Bankshares has a fifty-two week low of $31.57 and a fifty-two week high of $42.50.

The company also recently declared a quarterly dividend, which was paid on Monday, January 3rd. Stockholders of record on Thursday, December 2nd were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.67%. This is a boost from United Bankshares’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, December 1st. United Bankshares’s dividend payout ratio (DPR) is currently 48.32%.

About United Bankshares

United Bankshares, Inc is a bank holding company, which engages in the provision of commercial and retail banking services and products. It operates through the following segments: Community Banking, Mortgage Banking, and Other. The Community segments consists of both commercial and consumer lending and provides customers with such products as commercial loans, real estate loans, business financing and consumer loans.

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Earnings History and Estimates for United Bankshares (NASDAQ:UBSI)

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