United Bankshares (NASDAQ:UBSI) Downgraded to “Sell” at Zacks Investment Research

United Bankshares (NASDAQ:UBSI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “United Bankshares, Inc. is a bank holding company whose business is the operation of its bank subsidiaries. All of United’s subsidiary banks are full-service commercial banks. Included among the banking services offered are the acceptance of deposits in checking, savings, time and money market accounts; the making and servicing of personal, commercial, floor plan and student loans; and the making of construction and real estate loans. Also offered are individual retirement accounts, safe deposit boxes, wire transfers and other standard banking products and services. “

Several other brokerages also recently weighed in on UBSI. BidaskClub raised United Bankshares from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Boenning Scattergood reissued a “neutral” rating on shares of United Bankshares in a report on Thursday, April 25th.

UBSI stock traded up $0.27 during trading on Wednesday, reaching $36.49. 13,016 shares of the company traded hands, compared to its average volume of 395,805. United Bankshares has a 12 month low of $29.13 and a 12 month high of $39.95. The company’s 50 day moving average price is $37.11. The company has a market capitalization of $3.70 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 1.79 and a beta of 1.27. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. The company had revenue of $176.38 million for the quarter, compared to the consensus estimate of $174.76 million. United Bankshares had a return on equity of 7.93% and a net margin of 29.74%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 earnings per share. Equities research analysts expect that United Bankshares will post 2.53 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in UBSI. Norges Bank purchased a new position in shares of United Bankshares in the fourth quarter worth about $28,392,000. JPMorgan Chase & Co. raised its stake in shares of United Bankshares by 769.7% in the first quarter. JPMorgan Chase & Co. now owns 653,046 shares of the financial services provider’s stock worth $23,666,000 after purchasing an additional 577,959 shares during the last quarter. BlackRock Inc. raised its stake in shares of United Bankshares by 3.2% in the fourth quarter. BlackRock Inc. now owns 14,488,480 shares of the financial services provider’s stock worth $450,737,000 after purchasing an additional 448,888 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of United Bankshares by 9.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,609,029 shares of the financial services provider’s stock worth $143,386,000 after purchasing an additional 403,409 shares during the last quarter. Finally, Sargent Investment Group LLC purchased a new position in shares of United Bankshares in the fourth quarter worth about $5,446,000. Hedge funds and other institutional investors own 72.75% of the company’s stock.

United Bankshares Company Profile

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, and NOW accounts.

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