U.S. Markets closed

United Bankshares: 1Q Earnings Snapshot

CHARLESTON, W.Va. (AP) _ United Bankshares Inc. (UBSI) on Thursday reported first-quarter net income of $63.6 million.

The bank, based in Charleston, West Virginia, said it had earnings of 62 cents per share.

The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 62 cents per share.

The holding company for United Bank posted revenue of $220.3 million in the period. Its revenue net of interest expense was $175.4 million, which beat Street forecasts. Three analysts surveyed by Zacks expected $174.7 million.

United Bankshares shares have risen 25 percent since the beginning of the year. The stock has increased almost 10 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UBSI at https://www.zacks.com/ap/UBSI