United Bankshares (NASDAQ:UBSI) Given New $38.00 Price Target at Keefe, Bruyette & Woods

United Bankshares (NASDAQ:UBSI) had its price target cut by stock analysts at Keefe, Bruyette & Woods from $40.00 to $38.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 11.90% from the company’s previous close.

Several other analysts have also recently issued reports on UBSI. Stephens lowered their target price on shares of United Bankshares from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Raymond James upped their price target on shares of United Bankshares from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, United Bankshares presently has an average rating of “Hold” and an average target price of $37.00.

United Bankshares Stock Performance

Shares of UBSI opened at $33.96 on Friday. United Bankshares has a 52-week low of $25.35 and a 52-week high of $38.74. The stock’s 50-day simple moving average is $34.08 and its 200 day simple moving average is $34.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.99 and a current ratio of 1.00. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 12.96 and a beta of 1.01.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.01). United Bankshares had a net margin of 22.51% and a return on equity of 7.72%. The company had revenue of $401.39 million for the quarter, compared to the consensus estimate of $256.80 million. During the same quarter in the prior year, the company earned $0.74 earnings per share. Research analysts forecast that United Bankshares will post 2.63 EPS for the current fiscal year.

Hedge Funds Weigh In On United Bankshares

A number of hedge funds and other institutional investors have recently bought and sold shares of UBSI. Victory Capital Management Inc. raised its position in shares of United Bankshares by 2,745.7% during the 4th quarter. Victory Capital Management Inc. now owns 2,835,545 shares of the financial services provider’s stock valued at $106,475,000 after buying an additional 2,735,901 shares in the last quarter. Norges Bank bought a new stake in United Bankshares during the fourth quarter worth about $45,308,000. Vaughan Nelson Investment Management L.P. lifted its stake in United Bankshares by 103.9% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,142,091 shares of the financial services provider’s stock worth $42,885,000 after purchasing an additional 581,870 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in United Bankshares in the third quarter worth approximately $8,400,000. Finally, AQR Capital Management LLC raised its stake in shares of United Bankshares by 3,558.3% during the third quarter. AQR Capital Management LLC now owns 305,687 shares of the financial services provider’s stock worth $8,434,000 after acquiring an additional 297,331 shares in the last quarter. Hedge funds and other institutional investors own 70.80% of the company’s stock.

United Bankshares Company Profile

United Bankshares, Inc, through its subsidiaries, 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.