United Bankshares (NASDAQ:UBSI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Saturday. The brokerage currently has a $42.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 13.82% from the company’s previous close.
According to Zacks, “United Bankshares, Inc. is a bank holding company whose business is the operation of its bank subsidiaries. All of United’s subsidiary banks are full-service commercial banks. Included among the banking services offered are the acceptance of deposits in checking, savings, time and money market accounts; the making and servicing of personal, commercial, floor plan and student loans; and the making of construction and real estate loans. Also offered are individual retirement accounts, safe deposit boxes, wire transfers and other standard banking products and services. “
A number of other brokerages also recently issued reports on UBSI. BidaskClub downgraded United Bankshares from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. Boenning Scattergood reaffirmed a “hold” rating on shares of United Bankshares in a report on Friday, October 27th. Finally, Sandler O’Neill set a $38.00 price target on United Bankshares and gave the stock a “hold” rating in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a strong buy rating to the stock. United Bankshares currently has a consensus rating of “Hold” and a consensus target price of $42.25.
United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.01). The business had revenue of $188.51 million for the quarter, compared to analysts’ expectations of $193.87 million. United Bankshares had a return on equity of 6.25% and a net margin of 24.94%. The firm’s quarterly revenue was up 44.9% on a year-over-year basis. During the same period last year, the firm earned $0.54 earnings per share. sell-side analysts predict that United Bankshares will post 1.9 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC purchased a new stake in shares of United Bankshares in the 2nd quarter valued at about $135,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of United Bankshares by 62.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,053 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 1,563 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new stake in shares of United Bankshares in the 3rd quarter valued at about $216,000. Riverhead Capital Management LLC lifted its holdings in shares of United Bankshares by 102.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,678 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 2,878 shares during the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in shares of United Bankshares in the 3rd quarter valued at about $241,000. 65.51% of the stock is owned by institutional investors.
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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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