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

United Bankshares, Inc. (NASDAQ:UBSI) declared 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 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 every year for the last 25 years. United Bankshares has a payout ratio of 57.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

NASDAQ UBSI traded up $0.44 on Wednesday, hitting $41.74. The company had a trading volume of 51,565 shares, compared to its average volume of 519,781. United Bankshares has a 12-month low of $30.68 and a 12-month high of $44.43. The company has a market capitalization of $5.64 billion, a PE ratio of 15.64 and a beta of 1.01. The company’s fifty day moving average price is $39.62 and its 200-day moving average price is $36.74. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.96.

United Bankshares (NASDAQ:UBSI) last announced 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 net margin of 22.05% and a return on equity of 7.58%. The firm 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 company posted $0.71 EPS. As a group, analysts predict that United Bankshares will post 2.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of United Bankshares from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Four 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.com, the stock currently has an average rating of “Hold” and an average price target of $40.25.

Insiders Place Their Bets

In other United Bankshares news, Director J Paul Mcnamara sold 2,500 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.86, for a total transaction of $107,150.00. Following the sale, the director now directly owns 63,409 shares in the company, valued at approximately $2,717,709.74. The trade was a 3.79 % decrease in their position. The sale was disclosed in a document filed 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 on Wednesday, November 6th. The stock was sold at an average price of $40.00, for a total value of $200,000.00. Following the transaction, the director now directly owns 434,769 shares of the company’s stock, valued at $17,390,760. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. 3.66% of the stock is owned by corporate insiders.

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.