United Bankshares, Inc. (UBSI) Expected to Announce Earnings of $0.62 Per Share

Equities research analysts predict that United Bankshares, Inc. (NASDAQ:UBSI) will announce earnings of $0.62 per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for United Bankshares’ earnings. The lowest EPS estimate is $0.62 and the highest is $0.63. United Bankshares posted earnings of $0.53 per share during the same quarter last year, which indicates a positive year over year growth rate of 17%. The business is scheduled to announce its next quarterly earnings results on Tuesday, January 29th.

According to Zacks, analysts expect that United Bankshares will report full-year earnings of $2.46 per share for the current fiscal year, with EPS estimates ranging from $2.45 to $2.46. For the next year, analysts forecast that the company will report earnings of $2.55 per share, with EPS estimates ranging from $2.50 to $2.59. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for United Bankshares.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01). The company had revenue of $180.46 million for the quarter, compared to analyst estimates of $189.56 million. United Bankshares had a net margin of 25.09% and a return on equity of 7.64%.

A number of research firms recently commented on UBSI. BidaskClub raised United Bankshares from a “hold” rating to a “buy” rating in a research note on Saturday, September 8th. ValuEngine raised United Bankshares from a “sell” rating to a “hold” rating in a research note on Monday, July 30th. Zacks Investment Research raised United Bankshares from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Tuesday, July 31st. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of United Bankshares in a research note 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 company. The stock presently has an average rating of “Hold” and an average price target of $39.33.

In related news, Director Peter A. Converse sold 5,000 shares of the stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $39.00, for a total transaction of $195,000.00. Following the transaction, the director now directly owns 474,310 shares in the company, valued at $18,498,090. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter A. Converse sold 2,500 shares of the stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $39.50, for a total value of $98,750.00. Following the transaction, the director now owns 471,810 shares in the company, valued at $18,636,495. The disclosure for this sale can be found here. Corporate insiders own 5.15% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ontario Teachers Pension Plan Board purchased a new position in United Bankshares during the third quarter worth about $1,223,000. Zeke Capital Advisors LLC purchased a new position in United Bankshares during the third quarter worth about $648,000. MML Investors Services LLC purchased a new position in United Bankshares during the third quarter worth about $218,000. Prudential Financial Inc. lifted its position in United Bankshares by 3.7% during the third quarter. Prudential Financial Inc. now owns 126,000 shares of the financial services provider’s stock worth $4,580,000 after buying an additional 4,523 shares during the period. Finally, SG Americas Securities LLC lifted its position in United Bankshares by 49.0% during the third quarter. SG Americas Securities LLC now owns 85,880 shares of the financial services provider’s stock worth $3,122,000 after buying an additional 28,230 shares during the period. Hedge funds and other institutional investors own 72.28% of the company’s stock.

Shares of UBSI traded down $0.61 during trading hours on Friday, reaching $34.45. 390,816 shares of the company traded hands, compared to its average volume of 557,750. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. The firm has a market cap of $3.63 billion, a P/E ratio of 18.13, a PEG ratio of 1.78 and a beta of 1.11. United Bankshares has a fifty-two week low of $31.01 and a fifty-two week high of $39.95.

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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Earnings History and Estimates for United Bankshares (NASDAQ:UBSI)

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