Wall Street brokerages forecast that United Bankshares, Inc. (NASDAQ:UBSI – Get Rating) will post earnings per share (EPS) of $0.65 for the current quarter, Zacks reports. Three analysts have provided estimates for United Bankshares’ earnings, with estimates ranging from $0.61 to $0.69. United Bankshares reported earnings per share of $0.73 during the same quarter last year, which would indicate a negative year over year growth rate of 11%. The firm is scheduled to report its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that United Bankshares will report full year earnings of $2.61 per share for the current financial year, with EPS estimates ranging from $2.55 to $2.69. For the next financial year, analysts forecast that the company will report earnings of $2.72 per share, with EPS estimates ranging from $2.65 to $2.85. Zacks’ EPS averages are an average based on a survey of research analysts that cover United Bankshares.
United Bankshares (NASDAQ:UBSI – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The financial services provider reported $0.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.60. The firm had revenue of $237.53 million during the quarter, compared to analyst estimates of $244.47 million. United Bankshares had a return on equity of 7.55% and a net margin of 33.45%. The business’s quarterly revenue was up 1483.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 earnings per share.
United Bankshares stock traded down $0.64 during mid-day trading on Friday, hitting $36.89. The company had a trading volume of 534,996 shares, compared to its average volume of 632,916. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.18. United Bankshares has a 12 month low of $31.74 and a 12 month high of $39.79. The company has a market capitalization of $4.99 billion, a PE ratio of 14.19 and a beta of 1.12. The stock’s 50 day moving average price is $35.05 and its two-hundred day moving average price is $35.92.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 10th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend is Thursday, June 9th. United Bankshares’s payout ratio is 55.38%.
In other news, Chairman Richard M. Sr Adams, Sr. acquired 7,776 shares of the firm’s stock in a transaction on Friday, April 29th. The stock was acquired at an average price of $33.60 per share, for a total transaction of $261,273.60. Following the completion of the transaction, the chairman now owns 20,557 shares in the company, valued at approximately $690,715.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.22% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of UBSI. Mirabella Financial Services LLP purchased a new position in shares of United Bankshares during the 1st quarter worth $713,000. Jane Street Group LLC grew its position in United Bankshares by 210.7% during the 1st quarter. Jane Street Group LLC now owns 17,221 shares of the financial services provider’s stock worth $601,000 after purchasing an additional 11,679 shares during the last quarter. Eaton Vance Management grew its position in United Bankshares by 30.3% during the 1st quarter. Eaton Vance Management now owns 206,199 shares of the financial services provider’s stock worth $7,192,000 after purchasing an additional 47,990 shares during the last quarter. Guggenheim Capital LLC lifted its stake in shares of United Bankshares by 5.0% in the 1st quarter. Guggenheim Capital LLC now owns 48,744 shares of the financial services provider’s stock worth $1,700,000 after acquiring an additional 2,333 shares during the period. Finally, State Street Corp increased its holdings in shares of United Bankshares by 24.5% in the 1st quarter. State Street Corp now owns 14,156,275 shares of the financial services provider’s stock valued at $498,550,000 after purchasing an additional 2,782,694 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.
United Bankshares Company Profile (Get Rating)
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, NOW accounts, and interest-bearing checking accounts.
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