United Bankshares Inc. (UBSI, Financial) has announced robust financial outcomes for the first quarter, highlighted by a tangible book value per share of $22.76. The company also reported net charge-offs at a rate of 0.14%, signaling sound credit management during this period.
A significant development for the company this quarter was the successful integration of Piedmont, as United Bankshares expands its footprint into the competitive Atlanta market. CEO Richard Adams, Jr. expressed enthusiasm about the acquisition, emphasizing that while such transactions can cause temporary disruptions, the underlying strong performance of UBSI remains evident.
Despite the challenges and uncertainties affecting the broader economy, UBSI has continued to deliver strong results, underscoring its resilience and strategic capabilities in navigating complex market conditions.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 6 analysts, the average target price for United Bankshares Inc (UBSI, Financial) is $40.25 with a high estimate of $42.00 and a low estimate of $38.00. The average target implies an upside of 16.77% from the current price of $34.47. More detailed estimate data can be found on the United Bankshares Inc (UBSI) Forecast page.
Based on the consensus recommendation from 6 brokerage firms, United Bankshares Inc's (UBSI, Financial) average brokerage recommendation is currently 2.8, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for United Bankshares Inc (UBSI, Financial) in one year is $41.22, suggesting a upside of 19.58% from the current price of $34.47. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the United Bankshares Inc (UBSI) Summary page.
