United Bankshares Posts Record Q2 Profit of $131.4M, EPS $0.95
UBSI sits 38% above its 52-week low of $34.103.
Summary
United Bankshares delivered record Q2 earnings of $131.4 million, or $0.95 per diluted share, beating the prior quarter's $124.2 million ($0.89) and last year's $120.7 million ($0.85). Net interest income rose 1% sequentially to $285.3 million, with net interest margin ticking up to 3.81%. Credit quality improved as the provision for credit losses fell to $5.0 million from $7.8 million in Q1. Noninterest income jumped 13% to $38.5 million, boosted by investment gains including a $5.9 million gain from the sale of an unaffiliated company and a $5.7 million VISA share exchange gain. The results reflect strong operating momentum and disciplined expense management, with annualized ROA of 1.56% and ROTCE of 15.15%. This follows a strong Q1 that saw a 47% year-over-year net income increase, and the stock is trading near its 52-week high of $48.22.
At the time of this announcement, UBSI was trading at $47.00 on NASDAQ in the Finance sector, with a market capitalization of approximately $6.5B. The 52-week trading range was $34.10 to $48.22. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: BusinessWire.