Revenue Update on United Bankshares(NASDAQ:UBSI)

United Bankshares(NASDAQ:UBSI) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $122.20M. Analysts estimated a revenue of $119.98M. Earnings per share were $0.48. Analysts had estimated an EPS of $0.50.

United Bankshares (UBSI) shares turned negative on Thursdays trading session with the shares closing down -0.14 points or -0.37% at a volume of 1,57,063. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $37.99. The peak price level was also seen at $37.99 while the days lowest was $37.58. Finally the shares closed at $37.63. The 52-week high of the shares is $43.13 while the 52-week low is $32.2201. According to the latest information available, the market cap of the company is $2,623 M.

Several Insider Transactions has been reported to the SEC. On Feb 11, 2016, Peter A Converse (director) purchased 45 shares at $32.88 per share price.Also, On Feb 8, 2016, Darren K Williams (Executive Vice-President) purchased 352 shares at $33.96 per share price.On Feb 2, 2016, J Paul Mcnamara (director) purchased 1,000 shares at $33.19 per share price, according to the Form-4 filing with the securities and exchange commission.

United Bankshares Inc. (United) is a bank holding company. The Company has two banking subsidiaries (the Banking Subsidiaries): United Bank (WV) and United Bank (VA). United’s Banking Subsidiaries offer a range of commercial and retail banking services and products. United also owns nonbank subsidiaries which engage in other community banking services such as asset management real property title insurance financial planning and brokerage services. Included among the banking services offered are the acceptance of deposits in checking savings time and money market accounts; the making and servicing of personal commercial floor plan and student loans; and the making of construction and real estate loans. Also offered are individual retirement accounts safe deposit boxes wire transfers and other standard banking products and services. As part of its lending function the Banking Subsidiaries offer credit card services.

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