Stephens Trims United Bankshares (NASDAQ:UBSI) Target Price to $34.00

United Bankshares (NASDAQ:UBSI) had its price target cut by Stephens from $36.00 to $34.00 in a research note released on Friday, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Separately, Raymond James upped their price objective on shares of United Bankshares from $38.00 to $41.00 and gave the company an outperform rating in a report on Friday, January 5th.

United Bankshares Price Performance

Shares of NASDAQ:UBSI opened at $33.35 on Friday. The company’s 50-day moving average is $34.22 and its 200 day moving average is $34.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $4.50 billion, a P/E ratio of 12.73 and a beta of 1.00. United Bankshares has a fifty-two week low of $25.35 and a fifty-two week high of $38.74.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The company had revenue of $401.39 million during the quarter, compared to analysts’ expectations of $256.80 million. United Bankshares had a return on equity of 7.77% and a net margin of 22.51%. During the same period last year, the firm posted $0.74 earnings per share. On average, equities research analysts forecast that United Bankshares will post 2.64 earnings per share for the current year.

United Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend was Thursday, March 7th. United Bankshares’s dividend payout ratio (DPR) is presently 56.49%.

Institutional Investors Weigh In On United Bankshares

Several institutional investors have recently added to or reduced their stakes in the business. New York State Teachers Retirement System lifted its holdings in United Bankshares by 0.6% during the first quarter. New York State Teachers Retirement System now owns 133,207 shares of the financial services provider’s stock valued at $4,767,000 after purchasing an additional 800 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of United Bankshares by 2.1% during the first quarter. Louisiana State Employees Retirement System now owns 38,700 shares of the financial services provider’s stock valued at $1,385,000 after buying an additional 800 shares during the period. Wesbanco Bank Inc. increased its position in shares of United Bankshares by 11.5% during the first quarter. Wesbanco Bank Inc. now owns 123,398 shares of the financial services provider’s stock valued at $4,416,000 after buying an additional 12,724 shares during the period. Accordant Advisory Group Inc bought a new stake in shares of United Bankshares during the first quarter valued at about $240,000. Finally, State of Michigan Retirement System increased its position in shares of United Bankshares by 1.9% during the first quarter. State of Michigan Retirement System now owns 33,013 shares of the financial services provider’s stock valued at $1,182,000 after buying an additional 600 shares during the period. 70.80% of the stock is owned by hedge funds and other institutional investors.

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.