United Bankshares assumed with a Neutral at Piper Sandler

Piper Sandler assumed coverage of United Bankshares (UBSI) with a Neutral rating and $38.50 price target United has strong profitability above peer medians as well as optionality around capital deployment, but over the next 12 months concerns around the D.C. area and the bank’s exposure will constrain any share outperformance, the analyst tells investors in a research note.