United Bankshares (NASDAQ:UBSI) Reaches New 52-Week High – Still a Buy?

United Bankshares, Inc. (NASDAQ:UBSI) reached a new 52-week high during trading on Monday . The company traded as high as $44.09 and last traded at $44.09, with a volume of 13033 shares traded. The stock had previously closed at $42.81.

Wall Street Analyst Weigh In

Separately, StockNews.com raised United Bankshares from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $40.25.

United Bankshares Trading Down 1.0 %

The business’s 50-day simple moving average is $38.57 and its 200-day simple moving average is $36.13. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11. The company has a market cap of $5.80 billion, a PE ratio of 16.24 and a beta of 0.98.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. United Bankshares had a return on equity of 7.58% and a net margin of 22.05%. The firm had revenue of $414.67 million during the quarter, compared to analysts’ expectations of $260.30 million. During the same quarter last year, the firm earned $0.71 earnings per share. As a group, analysts expect that United Bankshares, Inc. will post 2.73 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.45%. The ex-dividend date is Friday, December 13th. United Bankshares’s payout ratio is presently 56.06%.

Insiders Place Their Bets

In related news, Director Peter A. Converse sold 5,000 shares of United Bankshares stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $40.00, for a total value of $200,000.00. Following the completion of the sale, the director now owns 434,769 shares of the company’s stock, valued at approximately $17,390,760. The trade was a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.66% of the company’s stock.

Institutional Investors Weigh In On United Bankshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its stake in shares of United Bankshares by 237.6% in the third quarter. UMB Bank n.a. now owns 844 shares of the financial services provider’s stock worth $31,000 after buying an additional 594 shares during the last quarter. GAMMA Investing LLC grew its position in shares of United Bankshares by 253.5% in the second quarter. GAMMA Investing LLC now owns 1,545 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 1,108 shares during the last quarter. New Covenant Trust Company N.A. bought a new position in shares of United Bankshares in the first quarter worth about $79,000. Innealta Capital LLC acquired a new position in shares of United Bankshares during the 2nd quarter worth about $116,000. Finally, Marathon Strategic Advisors LLC bought a new stake in United Bankshares during the 3rd quarter valued at approximately $206,000. 70.80% of the stock is currently owned by institutional investors and hedge funds.

About United Bankshares

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.