StockNews.com Upgrades United Bankshares (NASDAQ:UBSI) to Hold

United Bankshares (NASDAQ:UBSIGet Rating) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Several other analysts have also issued reports on UBSI. DA Davidson restated a “neutral” rating on shares of United Bankshares in a research report on Wednesday, July 27th. Raymond James decreased their target price on shares of United Bankshares from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, July 7th. Finally, Janney Montgomery Scott assumed coverage on shares of United Bankshares in a research report on Tuesday, September 6th. They set a “buy” rating and a $40.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $39.00.

United Bankshares Stock Performance

Shares of UBSI opened at $37.84 on Wednesday. The company has a market capitalization of $5.09 billion, a PE ratio of 14.67 and a beta of 1.10. United Bankshares has a one year low of $31.95 and a one year high of $40.85. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.89 and a quick ratio of 0.88. The company’s fifty day moving average price is $37.64 and its 200 day moving average price is $36.03.

United Bankshares (NASDAQ:UBSIGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.08. United Bankshares had a net margin of 33.26% and a return on equity of 7.53%. During the same period last year, the business posted $0.73 EPS. As a group, analysts expect that United Bankshares will post 2.73 earnings per share for the current year.

Hedge Funds Weigh In On United Bankshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aigen Investment Management LP acquired a new position in United Bankshares in the first quarter valued at about $451,000. Alliancebernstein L.P. boosted its position in United Bankshares by 101.0% in the fourth quarter. Alliancebernstein L.P. now owns 590,950 shares of the financial services provider’s stock valued at $21,440,000 after buying an additional 296,875 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in United Bankshares by 10.8% in the first quarter. Envestnet Asset Management Inc. now owns 94,490 shares of the financial services provider’s stock valued at $3,296,000 after buying an additional 9,215 shares in the last quarter. Geode Capital Management LLC boosted its position in United Bankshares by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 2,434,802 shares of the financial services provider’s stock valued at $88,334,000 after buying an additional 229,273 shares in the last quarter. Finally, Inspire Investing LLC acquired a new position in United Bankshares in the first quarter valued at about $237,000. 69.61% of the stock is currently owned by institutional investors and hedge funds.

United Bankshares Company Profile

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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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