United Bankshares Inc - UBSI STOCK NEWS

United Bankshares (NASDAQ: UBSI) has announced its 51st consecutive year of dividend increases, declaring a fourth quarter dividend of $0.37 per share for shareholders of record as of December 13, 2024. The total dividend for 2024 will be $1.48 per share, up from $1.45 in 2023. The dividend is payable January 2, 2025. United, with consolidated assets of approximately $30 billion, is one of only two major U.S. banking companies to achieve this milestone. The company operates United Bank with over 225 offices across nine states and ranks as the 41st largest banking company in the U.S. by market capitalization.

United Bankshares (NASDAQ: UBSI) reported Q3 2024 earnings of $95.3 million, or $0.70 per diluted share, with annualized returns on average assets of 1.28%. Net interest income increased to $230.3 million, up 2% from Q2 2024. The company maintains strong asset quality with non-performing loans at 0.30% of total loans. United previously announced a merger agreement with Piedmont Bancorp, expected to close in late Q4 2024 or early Q1 2025, creating a combined organization with approximately $32 billion in assets and over 240 locations across eight states and Washington, D.C.

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.

United Bankshares, Inc. (UBSI) announces earnings for the first quarter of 2024, reporting $86.8 million in earnings, or $0.64 per diluted share. The company achieved annualized returns on average assets, equity, and tangible equity of 1.19%, 7.25%, and 11.98%, respectively. Despite challenges in the economic environment, UBSI maintains strong operating metrics. Net interest income decreased by 3% from the previous quarter, driven by higher interest expenses. Noninterest income decreased by 4% primarily due to lower mortgage loan servicing income, while noninterest expenses decreased by 8%. Credit quality remains sound, with non-performing loans at 0.35% of loans & leases. United's capital position is strong, with estimated capital ratios well above regulatory requirements.