United Bankshares (UBSI) Downgraded to Sell at Zacks Investment Research

United Bankshares (NASDAQ:UBSI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

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. “

Several other research analysts have also recently weighed in on the company. BidaskClub cut United Bankshares from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 4th. ValuEngine cut United Bankshares from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of United Bankshares in a research report on Friday, October 26th. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and an average price target of $39.33.

UBSI stock traded down $0.37 during trading on Wednesday, hitting $34.69. 46,534 shares of the company traded hands, compared to its average volume of 556,591. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41. The stock has a market cap of $3.67 billion, a P/E ratio of 18.26, a P/E/G ratio of 1.80 and a beta of 1.11. United Bankshares has a 1 year low of $31.01 and a 1 year high of $39.95.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.01). The company had revenue of $180.46 million for the quarter, compared to analysts’ expectations of $189.56 million. United Bankshares had a net margin of 25.09% and a return on equity of 7.64%. On average, research analysts predict that United Bankshares will post 2.46 earnings per share for the current fiscal year.

In other United Bankshares news, Director Peter A. Converse sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $39.00, for a total value of $195,000.00. Following the sale, the director now directly owns 474,310 shares of the company’s stock, valued at $18,498,090. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter A. Converse sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $39.50, for a total value of $98,750.00. Following the completion of the sale, the director now directly owns 471,810 shares in the company, valued at $18,636,495. The disclosure for this sale can be found here. 5.15% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Zeke Capital Advisors LLC acquired a new stake in United Bankshares in the third quarter valued at approximately $648,000. MML Investors Services LLC acquired a new stake in United Bankshares in the third quarter valued at approximately $218,000. Prudential Financial Inc. grew its holdings in United Bankshares by 3.7% in the third quarter. Prudential Financial Inc. now owns 126,000 shares of the financial services provider’s stock valued at $4,580,000 after purchasing an additional 4,523 shares during the period. SG Americas Securities LLC grew its holdings in United Bankshares by 49.0% in the third quarter. SG Americas Securities LLC now owns 85,880 shares of the financial services provider’s stock valued at $3,122,000 after purchasing an additional 28,230 shares during the period. Finally, McKinley Carter Wealth Services Inc. acquired a new stake in United Bankshares in the third quarter valued at approximately $2,116,000. 72.28% of the stock is currently owned by institutional investors.

United Bankshares Company Profile

United Bankshares, Inc, a financial holding company, 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.

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