United Bankshares (UBSI) AI Stock Analysis

• Market Cap: $5.83B
• Dividend Yield: 3.77%
• Average Volume (3M): 816.94K
• Price to Earnings (P/E): 12.6
• Beta (1Y): 0.74
• Revenue Growth: 8.83%
• EPS Growth: 15.49%
• Country: US
• Employees: 2,553
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.91
• Shares Outstanding: 139,419,480
• 10 Day Avg. Volume: 696,781
• 30 Day Avg. Volume: 816,936
• PEG Ratio: 0.62
• Price to Book (P/B): 0.98
• Price to Sales (P/S): 2.96
• P/FCF Ratio: 11.21
• Enterprise Value/Market Cap: 0.73
• Enterprise Value/Revenue: 2.34
• Enterprise Value/Gross Profit: 3.58
• Enterprise Value/Ebitda: 7.21
• 1Y Price Target: $44.67
• Price Target Upside: 6.76% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): 3.53
• Revenue Forecast (FY): $1.29B

• Rating: 61 Neutral
• Price Target: $44.00 ▲(5.16% Upside)
• Action: Downgraded Date: 02/28/26
• Date: Action: Downgraded 02/28/26

The score is driven primarily by financial fundamentals: solid profitability and an improving balance sheet are offset by the 2025 revenue drop and the sharp cash-flow deterioration. Technicals are weak-to-neutral in the near term, while valuation is supportive with a reasonable P/E and attractive dividend yield.

Positive Factors

Profitability & Margins

United exhibits durable core profitability with net margins in the mid-20s to mid-30s, indicating reliable earnings generation. Steady margins support internal capital formation, dividend capacity and lending activity, helping sustain franchise economics over the next several months.

Improving Balance Sheet / Leverage

Leverage has meaningfully declined and equity has risen, producing a more conservative capital structure. Stronger capital buffers enhance loss-absorption, regulatory flexibility and the bank’s ability to expand lending or withstand shocks across a multi-month horizon.

Resilient Credit Quality & Capital

Low net charge-offs (0.15%) and a tangible book value signal disciplined underwriting and a tangible capital cushion. Persistent low credit losses support stable net interest margins and reduce provisioning risk, underpinning sustainable earnings over coming quarters.

Negative Factors

2025 Revenue Decline

A pronounced revenue contraction in 2025 weakens the company’s top-line momentum and undermines durable earnings power. Lower revenues can compress both net interest and fee income, strain margins, and slow internal capital accretion across the medium term.

Cash Flow Deterioration

Operating and free cash flow dropping to zero in 2025 represents a material deterioration in cash conversion. This threatens internal funding for growth and dividends, may force greater reliance on external financing, and raises questions about earnings quality until normalized.

Prior Leverage Spike

A prior large leverage increase in 2022–2023 highlights potential episodic balance-sheet risk and funding volatility. Even with subsequent improvement, that history indicates sensitivity to management choices or market conditions that could re-emerge under stress.

United Bankshares Business Overview & Revenue Model

Company Description

United Bankshares, Inc., a financial holding company, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, NOW accounts, and interest-bearing checking accounts. Its loan products include commercial loans and leases; construction and real estate loans; personal, student, credit card, commercial, and floor plan loans; and home equity loans. In addition, the company provides credit cards; safe deposit boxes, wire transfers, and other banking products and services; investment and security services; services to correspondent banks, including buying and selling federal funds; automated teller machine services; and internet and telephone banking services. Further, it offers community banking services, such as asset management, real property title insurance, financial planning, mortgage banking, and brokerage services. As of December 31, 2021, the company operated 250 offices in Virginia, Maryland, Washington, D.C., North Carolina, South Carolina, Georgia, Pennsylvania, West Virginia, and Ohio. United Bankshares, Inc. was incorporated in 1982 and is headquartered in Charleston, West Virginia.

How the Company Makes Money

United Bankshares generates revenue primarily through the interest income earned on loans and investments, which constitutes a significant portion of its earnings. The bank makes money by lending to individuals and businesses at higher interest rates than it pays on deposits and other borrowings. Additionally, the company earns non-interest income from various services, including fees from wealth management, mortgage origination, and transaction services. Key revenue streams also include service charges on deposit accounts and interchange fees from debit card transactions. United Bankshares benefits from its strategic partnerships with local businesses and community organizations, which enhances its customer base and contributes to its overall financial performance.

United Bankshares Financial Statement Overview

Summary

Profitability and balance sheet quality are generally solid (income statement 66; balance sheet 74), but the 2025 revenue decline and the sharp deterioration to zero operating/free cash flow (cash flow 38) are significant near-term risk flags that pull the combined financial score down.

Income Statement

Profitability remains solid, with net margins generally in the mid-20% to mid-30% range and steady operating profitability across most years. Revenue growth has been uneven—strong in 2023, modest in 2024, but a sharp decline in 2025—which also coincided with weaker margins versus the prior couple of years. Net income improved from 2020 through 2024, but 2025’s revenue contraction is a clear near-term headwind.

Balance Sheet

Leverage looks conservative for a regional bank, with debt-to-equity trending down meaningfully from elevated levels in 2022–2023 to low levels in 2024–2025, while equity has grown over time. Return on equity is steady in the mid-to-high single digits, indicating consistent (though not exceptional) profitability relative to capital. The key weakness is the large jump in leverage seen in 2022–2023, even though it has since been reversed.

Cash Flow

Cash generation was strong and high-quality from 2020–2024, with free cash flow closely tracking net income and generally improving into 2022 before moderating. However, 2025 shows operating cash flow and free cash flow at zero, implying a sharp deterioration in cash conversion versus prior years and creating uncertainty around underlying cash earnings strength. Until cash flow normalizes, this is a notable risk flag despite the strong history.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.82B	1.62B	1.53B	1.15B	1.06B
Gross Profit	1.19B	1.00B	1.02B	1.02B	1.03B
EBITDA	590.18M	474.98M	486.91M	499.45M	470.76M
Net Income	464.60M	373.00M	366.31M	379.63M	367.74M
Balance Sheet
Total Assets	33.66B	30.02B	29.93B	29.49B	29.33B
Cash, Cash Equivalents and Short-Term Investments	5.60B	2.55B	5.38B	5.72B	7.80B
Total Debt	921.17M	803.28M	2.08B	2.43B	1.03B
Total Liabilities	28.16B	25.03B	25.16B	24.97B	24.61B
Stockholders Equity	5.50B	4.99B	4.77B	4.52B	4.72B
Cash Flow
Free Cash Flow	481.19M	433.33M	423.55M	743.96M	594.16M
Operating Cash Flow	498.91M	445.45M	435.24M	760.82M	609.54M
Investing Cash Flow	-7.17M	571.49M	38.99M	-3.45B	15.65M
Financing Cash Flow	-355.81M	-323.64M	-51.94M	105.32M	923.91M

United Bankshares Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 41.84
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For UBSI, the sentiment is Neutral. The current price of 41.84 is below the 20-day moving average (MA) of 43.77, above the 50-day MA of 41.74, and above the 200-day MA of 37.65, indicating a neutral trend. The MACD of 0.14 indicates Positive momentum. The RSI at 43.66 is Neutral, neither overbought nor oversold. The STOCH value of 30.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for UBSI.

United Bankshares Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ABCB	71 Outperform	$5.38B	12.95	10.53%	1.02%	2.20%	20.88%
OZK	70 Outperform	$5.41B	7.54	12.09%	3.68%	2.79%	2.11%
HWC	70 Outperform	$5.46B	11.62	11.27%	2.74%	-0.78%	25.39%
HOMB	68 Neutral	$5.50B	11.42	11.51%	2.85%	1.43%	19.58%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
GBCI	67 Neutral	$5.96B	22.82	6.43%	2.89%	8.73%	26.19%
UBSI	61 Neutral	$5.83B	12.64	8.84%	3.77%	8.83%	15.49%