Welcome to our dedicated page for United Bankshares West Va news (Ticker: UBSI), a resource for investors and traders seeking the latest updates and insights on United Bankshares West Va stock.
United Bankshares, Inc. reports developments as a financial holding company and parent of United Bank, a community banking institution serving markets across Washington, D.C., Virginia, West Virginia, Maryland, North Carolina, South Carolina, Ohio, Pennsylvania, and Georgia. Its banking business includes deposits, consumer and commercial lending, construction and real estate loans, residential mortgage origination and sale, trust and brokerage services, safe deposit boxes, and wire transfers.
Recurring UBSI news covers quarterly and annual earnings, returns on assets and equity, asset quality, credit-loss provisioning, expense trends, capital allocation, common-stock dividends, and the effects of completed bank acquisitions such as Piedmont Bancorp. Company updates also include investor conference presentations and corporate objectives tied to United Bank's regional banking footprint.
United Bankshares, Inc. (NASDAQ: UBSI), a $30 billion regional financial services company, has appointed Dr. Sara DuMond to its board of directors, effective Oct. 21, 2024. Dr. DuMond is a board-certified pediatrician and founder/CEO of Pediatric Housecalls, PLLC. She graduated summa cum laude from West Virginia University and earned her medical degree with Alpha Omega Alpha distinction. Dr. DuMond is a fellow of the American Academy of Pediatrics and has served on advisory boards for child health information. Richard M. Adams, Executive Chairman of UBSI, praised her as a respected leader who aligns with the company's commitment to local leadership and community service.
United Bankshares, Inc. (NASDAQ: UBSI) has announced a third quarter dividend of $0.37 per share for shareholders of record as of September 13, 2024. The dividend, totaling approximately $50.0 million, will be payable on October 1, 2024. This marks the 50th consecutive year of dividend increases for United shareholders, a feat achieved by only one other major banking company in the USA.
As of June 30, 2024, United had consolidated assets of about $30 billion and ranks as the 38th largest banking company in the U.S. by market capitalization. United Bank, the company's subsidiary, operates more than 225 offices across nine states and Washington, D.C.
United Bankshares, Inc. (NASDAQ: UBSI) reported Q2 2024 earnings of $96.5 million, or $0.71 per diluted share. This represents an increase from Q1 2024 earnings of $86.8 million. Key highlights include:
- Annualized returns on average assets, equity, and tangible equity of 1.32%, 7.99%, and 13.12% respectively
- Net interest income increased $3.2 million from Q1 2024
- Noninterest expense decreased $6.0 million from Q1 2024
- Non-performing loans decreased $9.1 million from Q1 2024
- Strong capital position with estimated risk-based capital ratio of 15.8%
The company also announced a merger agreement with Piedmont Bancorp, Inc., expected to close in late Q4 2024 or early Q1 2025.
United Bankshares (NASDAQ: UBSI) held its Annual Meeting of Shareholders on May 15, 2024. The company reported significant achievements in 2023, including growth in loans, deposits, and net interest margin. United also delivered above-peer performance in return on average assets and efficiency ratio while reducing non-performing assets and bolstering capital levels.
Despite a tough year for bank stocks, UBSI traded at a premium and increased dividends for the 50th consecutive year. The company was named the Most Trustworthy Bank by Newsweek. United's first-quarter 2024 results were rated 'Outperform' by Raymond James with a $41.00 price target.
The company announced the acquisition of Piedmont Bancorp, enhancing its presence in Atlanta. Additionally, shareholders elected directors and approved key proposals, including ratifying Ernst & Young as their auditing firm.
United Bankshares (NASDAQ: UBSI) announced that its Board of Directors declared a second quarter dividend of $0.37 per share. Shareholders of record as of June 14, 2024, will receive the dividend payout on July 1, 2024. The total payout amounts to approximately $52.7 million across 135.2 million shares. United Bankshares has an impressive record of 50 consecutive years of dividend increases, a feat matched by only one other major banking company in the USA. As of March 31, 2024, United reported consolidated assets of about $30 billion. The company operates more than 225 offices across multiple states in the USA.
United Bankshares, Inc. has announced the acquisition of Piedmont Bancorp, Inc., bringing together two high-performing banking companies. The merger will strengthen United's presence in the Southeast and Mid-Atlantic regions, making it the 39th largest banking company in the U.S. based on market capitalization. The transaction, United's 34th acquisition, will result in a combined organization with over $32 billion in assets and a network of over 240 locations across eight states and Washington, D.C.
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