United Bankshares (NASDAQ:UBSI) Earns Neutral Rating from Piper Sandler

United Bankshares (NASDAQ:UBSI)‘s stock had its “neutral” rating reaffirmed by Piper Sandler in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $38.50 price target on the financial services provider’s stock. Piper Sandler’s target price would suggest a potential upside of 13.10% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. StockNews.com downgraded United Bankshares from a “hold” rating to a “sell” rating in a report on Monday, January 27th. Stephens reissued an “equal weight” rating and set a $43.00 price objective on shares of United Bankshares in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods lowered their price target on United Bankshares from $46.00 to $45.00 and set a “market perform” rating on the stock in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $41.88.

United Bankshares Stock Down 1.1 %

Shares of United Bankshares stock opened at $34.04 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The business’s 50 day simple moving average is $37.26 and its 200-day simple moving average is $38.30. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of 12.42 and a beta of 0.98. United Bankshares has a twelve month low of $30.68 and a twelve month high of $44.43.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. During the same quarter in the previous year, the firm posted $0.59 EPS. Equities research analysts forecast that United Bankshares will post 2.81 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Mark R. Nesselroad sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $39.16, for a total value of $234,960.00. Following the completion of the transaction, the director now owns 35,424 shares in the company, valued at $1,387,203.84. This trade represents a 14.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.66% of the company’s stock.

Institutional Investors Weigh In On United Bankshares

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in United Bankshares by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,310,562 shares of the financial services provider’s stock valued at $537,362,000 after acquiring an additional 115,681 shares during the last quarter. Earnest Partners LLC raised its position in United Bankshares by 0.7% during the 4th quarter. Earnest Partners LLC now owns 4,199,136 shares of the financial services provider’s stock worth $157,678,000 after purchasing an additional 29,898 shares during the last quarter. Victory Capital Management Inc. raised its position in United Bankshares by 0.4% during the 3rd quarter. Victory Capital Management Inc. now owns 3,997,311 shares of the financial services provider’s stock worth $148,300,000 after purchasing an additional 14,833 shares during the last quarter. Geode Capital Management LLC raised its position in United Bankshares by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,306,542 shares of the financial services provider’s stock worth $122,695,000 after purchasing an additional 53,994 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of United Bankshares by 13.7% in the 4th quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider’s stock worth $66,614,000 after acquiring an additional 213,441 shares in the last quarter. 70.80% of the stock is currently 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.