United Bankshares , Inc. (NASDAQ:UBSI) stock achieved a new 52-week high this week, reaching $39.88, as the company rode the wave of a broader market rally. This milestone reflects a significant uptrend for the regional bank holding company, which has seen its stock price soar over the past year. Investors have been buoyed by United Bankshares' strong financial performance and strategic acquisitions, contributing to an impressive 1-year change of 19.62%. The company's ability to consistently deliver shareholder value during a period of economic uncertainty has garnered attention from investors looking for stability and growth within the financial sector.
In other recent news, United Bankshares, Inc. has made several significant announcements. The company declared a second quarter dividend of $0.37 per share, marking the 50th consecutive year of increased dividends. The payout, totaling approximately $52.7 million, serves as a testament to United Bankshares' sustained financial performance. In the realm of growth strategy, United Bankshares recently announced its acquisition of Piedmont Bancorp, Inc. The merger, valued at roughly $267 million, is expected to bolster the company's presence in the Southeast. Analyst firms have responded to these developments, with DA Davidson raising United Bankshares' stock target to $36.00 while maintaining a Neutral rating. Conversely, Keefe, Bruyette & Woods cut its price target to $38, citing a mixed forecast for the year ahead. These recent developments underscore United Bankshares' commitment to shareholder value and strategic growth.
InvestingPro Insights
United Bankshares, Inc. (UBSI) not only hit a 52-week high but also stands out with its commendable shareholder value delivery. An InvestingPro Tip highlights the company's high shareholder yield, a testament to its commitment to returning value to its investors. Notably, UBSI has a track record of raising its dividend for an impressive 35 consecutive years, and it has maintained dividend payments for 41 consecutive years, underscoring its financial stability and reliability as an income-generating investment.
InvestingPro Data further enriches the narrative, with a market capitalization of $5.37 billion and a P/E ratio of 14.66, which adjusts to 15.04 on a last twelve months basis as of Q2 2024. This valuation reflects the company's earnings potential relative to its share price. Additionally, UBSI's dividend yield stands at 3.81%, offering investors a notable income stream. The strong return on the stock over the last month (19.88%) and the last three months (21.23%) suggests robust short-term performance, aligning with the positive momentum indicated by the 52-week high.
For investors seeking detailed analysis and more InvestingPro Tips, including insights on earnings revisions and profitability forecasts, they can explore further on InvestingPro's platform, where 9 additional tips are available for UBSI at https://www.investing.com/pro/UBSI.
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