United Bankshares
UBSINASDAQUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $48.60 Prior regular-session close from the quote source.
- $47.99–$48.72 Regular-session low and high so far today.
- 791.1K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Jan 21 projected Projected for 2027-01-21 from the company’s own results filings (SEC 8-K Item 2.02). The company has not confirmed the date.
- $34.68–$50.47 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own UBSI if United Bankshares grows a profitable, regional community bank franchise by using M&A to expand deposit and loan scale in attractive Southeast markets, converting that scale into higher net interest income and cash generation while.
UBSI price history
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Investment thesis
What must happen next
United can continue to grow core banking scale through disciplined acquisitions and convert that scale into higher loans, deposits and revenue because management actively pursues and integrates community-bank deals into United Bank.StrengtheningMateriality: High
assets rose from 29,926,545,000 (2024) to 33,660,281,000 (2025) after the January 10, 2025 Piedmont acquisition (Item 1 Business). If true, assets, fee income and cross-sell opportunities grow organically and via M&A, supporting EPS and franchise value; if false, M&A becomes value-destructive and growth stalls.
Watch: Large deposit outflows or deposit repricing at acquired franchises that materially raise funding costs and reduce loanable deposits (deposit retention failure).
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
assets rose from 29,926,545,000 (2024) to 33,660,281,000 (2025) after the January 10, 2025 Piedmont acquisition (Item 1 Business).
Open source ↗Repricing of assets and scale in higher-rate environments will sustain and grow core earnings, so net income will remain above historical levels as long as NIM is preserved and credit costs remain controlled.StrengtheningMateriality: High
net_income increased from 366,313,000 (2023) to 372,996,000 (2024) and then to 464,603,000 (2025), showing earnings benefit concurrent with asset growth. Earnings strength drives EPS, dividend capacity, and cash available for M&A or buybacks; if margins compress or credit costs rise, EPS and cash will suffer despite asset growth.
Watch: Intense deposit competition forcing higher deposit betas that compress net interest margin (competitors offering higher retail rates).
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
net_income increased from 366,313,000 (2023) to 372,996,000 (2024) and then to 464,603,000 (2025), showing earnings benefit concurrent with asset growth.
Open source ↗United's growing equity base and cash generation provide the capital cushion to fund organic growth and M&A without high dilution or risky leverage, preserving shareholder value.StrengtheningMateriality: Medium
stockholders' equity increased from 4,771,240,000 (2023) to 4,993,223,000 (2024) to 5,495,983,000 (2025). If true, the company can pursue accretive deals and sustain dividends/buybacks; if false, the company may have to issue equity or curtail growth to meet capital requirements.
Watch: Large, unexpected loan losses or regulatory capital requirements that sharply reduce tangible capital.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
stockholders' equity increased from 4,771,240,000 (2023) to 4,993,223,000 (2024) to 5,495,983,000 (2025).
Open source ↗High operating cash flow conversion gives United the flexibility to fund acquisitions, dividends and capital needs from operations rather than relying on dilutive capital markets.StrengtheningMateriality: Medium
operating_cash_flow increased from 435,237,000 (2023) to 445,454,000 (2024) to 498,906,000 (2025), tracking net income growth. Sustained cash generation lowers financing risk and preserves EPS accretion from M&A; if cash generation weakens, financing risk and dilution increase.
Watch: Rising provisions for credit losses or higher operating expenses that convert earnings into weaker cash (integration costs, technology investments).
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
operating_cash_flow increased from 435,237,000 (2023) to 445,454,000 (2024) to 498,906,000 (2025), tracking net income growth.
Open source ↗
Full investment case & evidence
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Original research
United can continue to grow core banking scale through disciplined acquisitions and convert that scale into higher loans, deposits and revenue because management actively pursues and integrates community-bank deals into United Bank. If true, assets, fee income and cross-sell opportunities grow organically and via M&A, supporting EPS and franchise value; if false, M&A becomes value-destructive and growth stalls.
Repricing of assets and scale in higher-rate environments will sustain and grow core earnings, so net income will remain above historical levels as long as NIM is preserved and credit costs remain controlled. Earnings strength drives EPS, dividend capacity, and cash available for M&A or buybacks; if margins compress or credit costs rise, EPS and cash will suffer despite asset growth.
United's growing equity base and cash generation provide the capital cushion to fund organic growth and M&A without high dilution or risky leverage, preserving shareholder value. If true, the company can pursue accretive deals and sustain dividends/buybacks; if false, the company may have to issue equity or curtail growth to meet capital requirements.
High operating cash flow conversion gives United the flexibility to fund acquisitions, dividends and capital needs from operations rather than relying on dilutive capital markets. Sustained cash generation lowers financing risk and preserves EPS accretion from M&A; if cash generation weakens, financing risk and dilution increase.
All standing thesis claims
Original report summary
United Bankshares grows a profitable, regional community bank franchise by using M&A to expand deposit and loan scale in attractive Southeast markets, converting that scale into higher net interest income and cash generation while.
Bull case and bear case
Bull case and bear case for United Bankshares
Where the evidence on United Bankshares stands: Strengthening on the latest evidence (Nov 6, 2026). Of its 4 thesis points, 4 strengthening.
Bull case: what the evidence supports
United can continue to grow core banking scale through disciplined acquisitions and convert that scale into higher loans, deposits and revenue because management actively pursues and integrates community-bank deals into United Bank.
Repricing of assets and scale in higher-rate environments will sustain and grow core earnings, so net income will remain above historical levels as long as NIM is preserved and credit costs remain controlled.
United's growing equity base and cash generation provide the capital cushion to fund organic growth and M&A without high dilution or risky leverage, preserving shareholder value.
High operating cash flow conversion gives United the flexibility to fund acquisitions, dividends and capital needs from operations rather than relying on dilutive capital markets.
Bear case: what would count against it
Large deposit outflows or deposit repricing at acquired franchises that materially raise funding costs and reduce loanable deposits (deposit retention failure).
Intense deposit competition forcing higher deposit betas that compress net interest margin (competitors offering higher retail rates).
Large, unexpected loan losses or regulatory capital requirements that sharply reduce tangible capital.
Thesis-Break Engine
Thesis-break watch · United Bankshares
No break has crossed United Bankshares’s thesis. Its break conditions are checked against every new filing as it lands.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedReported results of operations (earnings release).
United Bankshares filed an SEC 8-K on 2026-10-22: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedOther material event.
United Bankshares filed an SEC 8-K on 2026-08-24: Other material event. It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
United Bankshares filed an SEC 8-K on 2026-07-23: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Large deposit outflows or deposit repricing at acquired franchises that materially raise funding costs and reduce loanable deposits (deposit retention failure).
- Intense deposit competition forcing higher deposit betas that compress net interest margin (competitors offering higher retail rates).
- Large, unexpected loan losses or regulatory capital requirements that sharply reduce tangible capital.
- Rising provisions for credit losses or higher operating expenses that convert earnings into weaker cash (integration costs, technology investments).
UBSI news
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Financial statements
UBSI income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
UBSI: quick answers
- When does United Bankshares (UBSI) report earnings next?
- United Bankshares's next results are projected for January 21, 2027, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on October 22, 2026. Earnings calendar
- What is UBSI's short interest?
- As of October 30, 2026, 6.1M UBSI shares were sold short, 4.56% of its shares outstanding, down 9.9% from the count before. At the stock's average daily volume that is 7.7 days to cover. FINRA publishes the count twice a month. UBSI short interest history
- Have members of Congress traded UBSI?
- 25 trades in UBSI have been disclosed under the STOCK Act by members of Congress, the President or senior officials, none in reports made public in the last 90 days. Every disclosed UBSI trade