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Here's What Key Metrics Tell Us About United Bankshares (UBSI) Q1 Earnings
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For the quarter ended March 2024, United Bankshares (UBSI - Free Report) reported revenue of $255.57 million, down 4.7% over the same period last year. EPS came in at $0.64, compared to $0.73 in the year-ago quarter.
The reported revenue represents a surprise of -0.48% over the Zacks Consensus Estimate of $256.8 million. With the consensus EPS estimate being $0.65, the EPS surprise was -1.54%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how United Bankshares performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net interest margin: 3.4% compared to the 3.5% average estimate based on three analysts.
Efficiency Ratio: 55.3% versus 54.3% estimated by three analysts on average.
Earning assets-Average balance: $26.09 billion versus $26 billion estimated by two analysts on average.
Net Charge-off (% of Average Loans): 0% versus 0.1% estimated by two analysts on average.
Income from mortgage banking operations: $5.30 million compared to the $4.52 million average estimate based on three analysts.
Total other income: $32.21 million versus the three-analyst average estimate of $28.29 million.
Income from bank-owned life insurance: $2.42 million versus $1.98 million estimated by two analysts on average.
Fees from deposit services: $8.97 million versus $8.83 million estimated by two analysts on average.
Other service charges, commissions, and fees: $0.86 million compared to the $0.90 million average estimate based on two analysts.
Bankcard fees and merchant discounts: $1.87 million compared to the $1.71 million average estimate based on two analysts.
Net Interest Income (Taxable Equivalent): $223.36 million versus the two-analyst average estimate of $227.37 million.
Other income: $2.19 million versus $1.81 million estimated by two analysts on average.
Shares of United Bankshares have returned -1.7% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About United Bankshares (UBSI) Q1 Earnings
For the quarter ended March 2024, United Bankshares (UBSI - Free Report) reported revenue of $255.57 million, down 4.7% over the same period last year. EPS came in at $0.64, compared to $0.73 in the year-ago quarter.
The reported revenue represents a surprise of -0.48% over the Zacks Consensus Estimate of $256.8 million. With the consensus EPS estimate being $0.65, the EPS surprise was -1.54%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how United Bankshares performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net interest margin: 3.4% compared to the 3.5% average estimate based on three analysts.
- Efficiency Ratio: 55.3% versus 54.3% estimated by three analysts on average.
- Earning assets-Average balance: $26.09 billion versus $26 billion estimated by two analysts on average.
- Net Charge-off (% of Average Loans): 0% versus 0.1% estimated by two analysts on average.
- Income from mortgage banking operations: $5.30 million compared to the $4.52 million average estimate based on three analysts.
- Total other income: $32.21 million versus the three-analyst average estimate of $28.29 million.
- Income from bank-owned life insurance: $2.42 million versus $1.98 million estimated by two analysts on average.
- Fees from deposit services: $8.97 million versus $8.83 million estimated by two analysts on average.
- Other service charges, commissions, and fees: $0.86 million compared to the $0.90 million average estimate based on two analysts.
- Bankcard fees and merchant discounts: $1.87 million compared to the $1.71 million average estimate based on two analysts.
- Net Interest Income (Taxable Equivalent): $223.36 million versus the two-analyst average estimate of $227.37 million.
- Other income: $2.19 million versus $1.81 million estimated by two analysts on average.
View all Key Company Metrics for United Bankshares here>>>Shares of United Bankshares have returned -1.7% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.