United Bankshares, Inc. (NASDAQ:UBSI) – Boenning Scattergood increased their Q1 2018 earnings estimates for shares of United Bankshares in a note issued to investors on Wednesday. Boenning Scattergood analyst M. Schultheis now anticipates that the financial services provider will post earnings per share of $0.64 for the quarter, up from their previous estimate of $0.52. Boenning Scattergood has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for United Bankshares’ Q2 2018 earnings at $0.69 EPS, Q3 2018 earnings at $0.68 EPS and Q4 2018 earnings at $0.68 EPS.
Other research analysts also recently issued research reports about the company. BidaskClub raised United Bankshares from a “sell” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research downgraded United Bankshares from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $44.50.
United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.54 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.01). The company had revenue of $188.51 million during the quarter, compared to analyst estimates of $193.87 million. United Bankshares had a net margin of 24.94% and a return on equity of 6.25%. The firm’s revenue for the quarter was up 44.9% compared to the same quarter last year. During the same period last year, the firm earned $0.54 EPS.
United Bankshares announced that its Board of Directors has approved a stock buyback plan on Monday, August 28th that authorizes the company to repurchase 2,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be issued a dividend of $0.34 per share. This is a boost from United Bankshares’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Thursday, December 7th. United Bankshares’s payout ratio is 71.58%.
Large investors have recently added to or reduced their stakes in the company. Viking Fund Management LLC grew its holdings in shares of United Bankshares by 7.7% during the third quarter. Viking Fund Management LLC now owns 84,000 shares of the financial services provider’s stock worth $3,121,000 after purchasing an additional 6,000 shares during the last quarter. Swiss National Bank boosted its holdings in United Bankshares by 22.3% in the second quarter. Swiss National Bank now owns 164,582 shares of the financial services provider’s stock valued at $6,452,000 after acquiring an additional 30,001 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in United Bankshares by 23.0% in the second quarter. Bank of New York Mellon Corp now owns 1,358,100 shares of the financial services provider’s stock valued at $53,238,000 after acquiring an additional 254,351 shares during the last quarter. Wesbanco Bank Inc. boosted its holdings in United Bankshares by 2.2% in the third quarter. Wesbanco Bank Inc. now owns 178,728 shares of the financial services provider’s stock valued at $6,640,000 after acquiring an additional 3,850 shares during the last quarter. Finally, NTV Asset Management LLC boosted its holdings in United Bankshares by 3.6% in the second quarter. NTV Asset Management LLC now owns 69,506 shares of the financial services provider’s stock valued at $2,725,000 after acquiring an additional 2,389 shares during the last quarter. Institutional investors own 65.51% of the company’s stock.
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About United Bankshares
United Bankshares, Inc (United) is a bank holding company. The Company operates through community banking segment. United’s Banking Subsidiaries offer a range of commercial and retail banking services and products. United, through its subsidiaries, engages in community banking and offers banking products and services permitted by law and regulation.
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