United Bankshares, Inc. UBSI

FinancialsBanking ServicesUnited States of America

Last close 48.22 USD on Nov 1, 2026, +28.9% year to date

Quant rating

Quant rating B Rank 229 of 799 in Financials

Growth C 385 of 799
Valuation D 567 of 799
Quality C 324 of 799
Revisions B 209 of 799
Momentum B 209 of 799

Wall Street consensus Hold (2.67)Average target 51.67 USD +7.1%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 6.5B
Enterprise value: 5.3B
52-week range: 34.72 – 49.60
3-year range: 28.40 – 49.60
Dividend yield: 3.15%
Beta (5 years): 0.76
Shares outstanding: 135M
Next earnings: Jan 20, 2027

About the company

United Bankshares, Inc. is a financial holding company. The Company offers a full range of commercial and retail banking services and products. It provides community banking services such as asset management, real property title insurance, financial planning, mortgage banking, and brokerage services. Its services include deposits in checking, savings, time and money market accounts; the making and servicing of personal, commercial, and floor plan loans; and the making of construction and real estate loans. It also offers individual retirement accounts, safe deposit boxes, wire transfers and other standard banking products and services. It includes the trust department, which acts as a trustee under wills, trusts and pension and profit-sharing plans, as executor and administrator of estates, and as guardian for estates of minors and incompetents, and in addition performs a variety of investment and security services. It offers digital banking for consumer and commercial customers.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	1,686	1,502	1,401	1,002	795	–
Revenue growth	12.2%	7.2%	39.9%	26.0%	−0.4%	16.1%
EPS (basic, normalized)	3.28	2.76	2.72	2.82	2.85	–
EPS growth	18.8%	1.5%	−3.3%	−1.1%	−8.6%	1.1%
Gross margin	–	–	–	–	–	–
Net margin	27.6%	24.8%	26.1%	37.9%	46.2%	32.5%
ROE	8.7%	7.6%	7.9%	8.2%	8.2%	8.1%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Tier 1 risk-adjusted capital ratio	13.3%
Long-term debt (mil)	533
Net debt (mil)	–
Total equity (mil)	5,414
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	1,686	+12.2%	3.2x	39.29	+6.1%	1.2x	3.27	+18.9%	14.7x
2026	1,304	−22.7%	4.1x	41.05	+4.5%	1.2x	3.71	+13.6%	13.0x
2027	1,366	+4.8%	3.9x	43.33	+5.6%	1.1x	3.96	+6.5%	12.2x
2028	1,425	+4.3%	3.7x	45.55	+5.1%	1.1x	4.20	+6.1%	11.5x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	1,304	+0.5%	+0.5%	+0.7%	3.71	+0.1%	0.0%	+2.4%
2027	1,366	+1.0%	+1.2%	+1.2%	3.96	+2.4%	+2.6%	+4.3%
2028	1,425	+2.3%	–	–	4.20	+3.7%	–	–

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	255	256	262	262	290	306	323	319	317	325
Sales mean (mil)	258	256	260	262	280	297	310	316	315	320
Surprise	−1.1%	+0.2%	+1.0%	−0.2%	+3.5%	+3.2%	+4.3%	+1.1%	+0.7%	+1.6%
EPS reported	0.64	0.71	0.70	0.69	0.59	0.85	0.92	0.91	0.89	0.95
EPS mean	0.65	0.64	0.67	0.68	0.63	0.76	0.82	0.86	0.85	0.89
Surprise	−1.3%	+10.2%	+4.5%	+2.0%	−6.8%	+11.6%	+12.2%	+5.5%	+4.8%	+7.1%

Peer comparison Banking Services

Peers in the same industry group, by market capitalization
Company	Market cap	Tier 1 ratio	Net margin	Deposits/loans	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
UBSI United Bankshares, Inc.	6.5B	13.3%	27.6%	1.11x	13.0x	12.2x	1.2x	1.1x
PNFP Pinnacle Financial Partners, Inc.	15.4B	10.7%	22.4%	1.22x	9.9x	8.8x	1.1x	1.0x
SSB SouthState Bank Corp	10.2B	11.1%	23.6%	1.15x	11.2x	10.2x	1.1x	1.0x
PB Prosperity Bancshares, Inc.	8.6B	15.9%	34.6%	1.33x	12.4x	9.7x	0.9x	0.8x
HWC Hancock Whitney Corporation	5.8B	13.2%	30.0%	1.51x	11.2x	9.9x	1.3x	1.2x
HOMB Home BancShares Inc	5.9B	16.3%	37.2%	1.14x	11.7x	11.5x	1.3x	1.2x
Mean		13.4%	29.2%	1.24x	11.6x	10.4x	1.1x	1.1x
Median		13.2%	28.8%	1.19x	11.5x	10.1x	1.1x	1.1x

Technical analysis

1M+3.2%
3M−0.8%
1Y+36.8%
3Y+96.6%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, United Bankshares, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Interest income	1,686	1,502	1,401	1,002	795	798
Total interest expense	584	591	481	106	52.4	109
Net interest income	1,102	911	920	896	743	690
Loan loss provision	53.9	25.2	31.2	18.8	−24.0	–
Net interest income after loan loss provision	1,048	886	889	878	767	690
Non-interest income	133	121	133	151	276	353
Non-interest expense	−598	−543	−558	−553	−580	−683
Net income before taxes	583	465	464	476	463	360
Provision for taxes	119	91.6	97.5	96.2	95.1	70.7
Minority interest & equity in affiliates	–	–	–	–	–	–
Other	0	0	0	0	0	0
Net income before extraordinary items	465	373	366	380	368	289
Extraordinary items	–	–	–	–	–	0
Net income	465	373	366	380	368	289
Basic weighted average shares (mil)	141	135	135	135	129	120
Diluted weighted average shares (mil)	142	135	135	135	130	120
Basic EPS excluding extraordinary items	3.28	2.76	2.72	2.82	2.84	2.41
Basic EPS, normalized	3.28	2.76	2.72	2.82	2.85	3.12

Balance sheet in millions of USD, fiscal years

Balance sheet, United Bankshares, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & due from banks	248	241	257	294	283	297
Other earning assets	6,273	5,852	6,011	6,292	8,275	5,817
Net loans	24,412	21,402	21,100	20,323	17,808	17,356
Property, plant & equipment	298	268	278	270	279	245
Goodwill	2,019	1,889	1,889	1,889	1,886	1,797
Intangibles	32.3	8.9	17.1	38.6	46.3	46.6
Long-term investments	–	–	–	–	–	–
Other long-term assets	123	142	145	164	57.3	55.5
Other assets	255	222	230	218	694	570
Total assets	33,660	30,024	29,926	29,489	29,329	26,184
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	–	–	–	–	–	–
Accrued expenses	338	317	306	265	282	276
Total deposits	27,061	23,962	22,819	22,303	23,350	20,585
Other bearing liabilities	250	260	1,510	1,911	532	585
Short-term borrowings	199	176	196	161	129	142
Current portion of long-term debt	–	–	–	–	–	–
Long-term debt	282	280	279	287	285	280
Minority interest	–	–	–	–	–	–
Other liabilities	35.1	34.9	44.7	46.2	31.4	19.2
Total liabilities	28,164	25,030	25,155	24,973	24,610	21,887
Shareholders' equity
Preferred stock	0	0	–	0	0	–
Common stock	377	357	356	355	353	335
Additional paid-in capital	3,469	3,196	3,182	3,169	3,150	2,894
Retained earnings (accumulated deficit)	2,170	1,918	1,746	1,575	1,391	1,205
Treasury stock	−381	−253	−252	−250	−171	−159
Other equity	−139	−224	−260	−333	−4.9	22.4
Total equity	5,496	4,993	4,771	4,516	4,719	4,298
Total liabilities & shareholders' equity	33,660	30,024	29,926	29,489	29,329	26,184

Cash flow statement in millions of USD, fiscal years

Cash flow statement, United Bankshares, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	465	373	366	380	368	289
Depreciation, depletion & amortization	16.8	15.7	17.2	18.2	16.6	13.5
Deferred taxes	16.6	−3.4	−2.9	6.9	3.0	−0.2
Non-cash items	−17.9	1.7	17.6	15.8	13.8	−30.2
Changes in working capital	18.7	58.5	37.0	340	208	−132
Cash from operations	499	445	435	761	610	140
Investing activities
Capital expenditures	−17.7	−12.1	−11.7	−16.9	−15.4	−19.0
Other investing cash flows	−882	584	50.7	−3,431	31.0	157
Cash from investing	−899	571	39.0	−3,448	15.7	138
Financing activities
Financing cash flow items	1,006	−127	553	−1,012	1,209	2,623
Cash dividends paid	−209	−201	−195	−193	−181	−163
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−147	4.2	−410	1,311	−104	−1,367
Cash from financing	650	−324	−51.9	105	924	1,094
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	250	693	422	−2,582	1,549	1,372
Free cash flow	481	433	424	744	594	121

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

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Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.