Piper Sandler Reaffirms Neutral Rating for United Bankshares (NASDAQ:UBSI)

United Bankshares (NASDAQ:UBSI)‘s stock had its “neutral” rating reissued by research analysts at Piper Sandler in a report issued on Wednesday, MarketBeat.com reports. They currently have a $38.50 target price on the financial services provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 13.14% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of United Bankshares from $46.00 to $45.00 and set a “market perform” rating for the company in a report on Monday, January 27th. StockNews.com lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Monday, January 27th. Finally, Stephens reaffirmed an “equal weight” rating and set a $43.00 price objective on shares of United Bankshares in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $41.88.

United Bankshares Stock Performance

Shares of United Bankshares stock opened at $34.03 on Wednesday. The firm has a market cap of $4.87 billion, a PE ratio of 12.42 and a beta of 0.98. United Bankshares has a 1 year low of $30.68 and a 1 year high of $44.43. The firm’s 50-day simple moving average is $37.19 and its 200-day simple moving average is $38.27. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings data on Friday, January 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. During the same quarter in the previous year, the company earned $0.59 EPS. Equities analysts forecast that United Bankshares will post 2.81 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Mark R. Nesselroad sold 6,000 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $39.16, for a total transaction of $234,960.00. Following the completion of the sale, the director now owns 35,424 shares in the company, valued at $1,387,203.84. This trade represents a 14.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On United Bankshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in shares of United Bankshares in the fourth quarter valued at approximately $26,000. Jones Financial Companies Lllp increased its holdings in United Bankshares by 55.8% during the 4th quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB raised its position in United Bankshares by 1,921.1% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 1,364 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in United Bankshares by 37.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 400 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of United Bankshares during the fourth quarter worth $85,000. 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.