|Bid||26.29 x 800|
|Ask||26.34 x 1100|
|Day's Range||26.12 - 26.61|
|52 Week Range||19.67 - 40.70|
|Beta (5Y Monthly)||1.44|
|PE Ratio (TTM)||12.60|
|Earnings Date||Oct 22, 2020 - Oct 26, 2020|
|Forward Dividend & Yield||1.40 (5.32%)|
|Ex-Dividend Date||Jun 11, 2020|
|1y Target Est||30.75|
United Bankshares (UBSI) delivered earnings and revenue surprises of 2.33% and 16.18%, respectively, for the quarter ended June 2020. Do the numbers hold clues to what lies ahead for the stock?
The big shareholder groups in United Bankshares, Inc. (NASDAQ:UBSI) have power over the company. Generally speaking...
United Bankshares, Inc. (NASDAQ: UBSI) ("United"), today reported earnings for the second quarter and the first half of 2020. Earnings for the second quarter of 2020 were $52.7 million as compared to earnings of $67.2 million for the second quarter of 2019. Earnings for the first half of 2020 were $92.9 million as compared to earnings of $130.8 million for the first half of 2019. The lower amount of net income in 2020 was driven primarily by significant merger-related expenses from the Carolina Financial Corporation ("Carolina Financial") acquisition and a higher provision for loan losses resulting from an adverse future macroeconomic forecast as a result of the coronavirus ("COVID-19") pandemic under the new Current Expected Credit Loss ("CECL") accounting standard. The higher amount of provision expense resulting from COVID-19 is an industry-wide issue affecting bank earnings nationwide. Diluted earnings per share were $0.44 and $0.84 for the second quarter and first half of 2020, respectively, as compared to diluted earnings per share of $0.66 and $1.28 for the second quarter and first half of 2019, respectively.