United Bankshares (NASDAQ:UBSI) Stock Rating Lowered by Zacks Investment Research

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

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. “

UBSI has been the topic of several other reports. BidaskClub cut shares of Xilinx from a “buy” rating to a “hold” rating in a research report on Saturday, June 15th. Boenning Scattergood reaffirmed an “outperform” rating and issued a $47.75 price objective on shares of WSFS Financial in a research report on Thursday, June 20th.

Shares of NASDAQ UBSI opened at $36.59 on Friday. The stock’s fifty day moving average price is $36.76. The company has a market capitalization of $3.71 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 1.79 and a beta of 1.23. United Bankshares has a twelve month low of $29.13 and a twelve month high of $39.95. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.58.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. The business had revenue of $176.38 million for the quarter, compared to analysts’ expectations of $174.76 million. United Bankshares had a net margin of 29.74% and a return on equity of 7.93%. The firm’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 EPS. As a group, analysts forecast that United Bankshares will post 2.53 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of UBSI. Norges Bank bought a new stake in United Bankshares in the 4th quarter valued at $28,392,000. JPMorgan Chase & Co. increased its stake in United Bankshares by 769.7% in the 1st quarter. JPMorgan Chase & Co. now owns 653,046 shares of the financial services provider’s stock valued at $23,666,000 after buying an additional 577,959 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in United Bankshares by 9.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,609,029 shares of the financial services provider’s stock valued at $143,386,000 after buying an additional 403,409 shares during the last quarter. Anchor Capital Advisors LLC increased its stake in United Bankshares by 13.6% in the 1st quarter. Anchor Capital Advisors LLC now owns 1,070,583 shares of the financial services provider’s stock valued at $38,798,000 after buying an additional 127,837 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in United Bankshares by 9.4% in the 4th quarter. Geode Capital Management LLC now owns 1,186,991 shares of the financial services provider’s stock valued at $36,927,000 after buying an additional 101,765 shares during the last quarter. 72.75% of the stock is currently owned by institutional investors and hedge funds.

About United Bankshares

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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