United Bankshares: 4Q Earnings Snapshot

CHARLESTON, W.Va. (AP) – United Bankshares Inc. (UBSI) on Tuesday reported fourth-quarter net income of $64 million.

The bank, based in Charleston, West Virginia, said it had earnings of 62 cents per share.

The results matched Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 62 cents per share.

The holding company for United Bank posted revenue of $217.3 million in the period. Its revenue net of interest expense was $176.5 million, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $180.5 million.

For the year, the company reported profit of $256.3 million, or $2.45 per share. Revenue was reported as $717.4 million.

United Bankshares shares have increased 13 percent since the beginning of the year. The stock has fallen 2.5 percent in the last 12 months.

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