At a glance
United Bankshares Inc is worth $6.55B, about 15 times its fiscal 2025 earnings. Revenue grew 19.6% to $1.24B in fiscal 2025, with 37.5% kept as profit; over 5 years it has grown 3.4% a year. It pays a 3.16% dividend yield, raised every year for at least 9 years, and returned $1.20B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +36.3% over the past year with dividends reinvested and +10.0% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 38.6% in the 2020 crash (S&P 500: 33.7%) and 14.7% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 9 months and 3 months after the lows.
The business in plain English
United Bankshares, a West Virginia company, owns United Bank, a community bank chartered in Virginia. It takes deposits in checking, savings, money market and time accounts, then lends that money to small and mid-size businesses, auto dealers, commercial property owners, homebuyers and consumers. It also offers trust and estate services, brokerage, financial planning, title insurance and mortgage lending. As of December 31, 2025, it had about $33.7 billion in assets.
Most of its money comes from the gap between the interest United earns on loans and investments and the interest it pays depositors and lenders. That gap is called net interest income. It was about $1.1 billion of the company's $1.24 billion in revenue in 2025. Noninterest income, which is mainly fees, added about $135 million. Net income was $464.6 million, up 24.6%.
United reports one business segment, community banking. It moved its George Mason and Crescent mortgage units into United Bank in early 2024. The 10-K does not split revenue by region. Acquisitions built its Mid-Atlantic and Southeast footprint: Carolina Financial of Charleston, South Carolina, in 2020; Community Bankers Trust of Richmond, Virginia, in 2021, which added Baltimore and Annapolis; and Piedmont Bancorp, which brought it into the greater Atlanta area in January 2025.
Price history
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UBSI +36.3% over the year to Oct 28, 2026, total return with dividends reinvested.
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $323.8M, up 5.8% from a year earlier, and net income was $131.4M (+8.8%).
- For fiscal 2025, revenue was $1.24B (+19.6% year over year; +3.4% a year from FY2020 to FY2025) with a 37.5% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +3.4% watch |
|---|---|
| Return on equity | 8.5% watch |
| Net income / revenue | 37.5% good |
| Deposits | $27.17B |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $1.04B | $289.0M | — |
| FY2021 | $1.02B | $367.7M | — |
| FY2022 | $1.05B | $379.6M | — |
| FY2023 | $1.06B | $366.3M | — |
| FY2024 | $1.03B | $373.0M | — |
| FY2025 | $1.24B | $464.6M | — |
Valuation snapshot
| Market value | $6.55B |
|---|---|
| P/E ratio | 14.7 |
| Dividend yield | 3.16% |
Rank among 1514 US companies
Market value at each year end
United Bankshares’s market value went from $3.54B at the end of 2016 to $6.55B on Oct 28, 2026, up 85%; since the end of 2025 it is up 21%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $6.55B | +21.4% |
| 2025 | $5.39B | +6.2% |
| 2024 | $5.08B | +0.2% |
| 2023 | $5.07B | -7.1% |
| 2022 | $5.45B | +16.3% |
| 2021 | $4.69B | +11.5% |
| 2020 | $4.20B | +7.1% |
| 2019 | $3.93B | +22.3% |
| 2018 | $3.21B | -12.0% |
| 2017 | $3.65B | +3.2% |
| 2016 | $3.54B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| UBSI price data to Oct 28, 2026 | +28.4% | +36.3% | +25.1% | +10.0% | +6.9% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +28.4% |
| 2025 | +6.5% |
| 2024 | +4.2% |
| 2023 | -3.1% |
| 2022 | +16.0% |
| 2021 | +16.4% |
| 2020 | -11.5% |
| 2019 | +28.8% |
| 2018 | -7.0% |
| 2017 | -22.1% |
| 2016 | +29.2% |
| 2015 | +2.2% |
| 2014 | +23.9% |
| 2013 | +35.1% |
| 2012 | -9.7% |
| 2011 | +1.6% |
| 2010 | +53.2% |
| 2009 | -36.0% |
| 2008 | +23.6% |
| 2007 | -24.9% |
| 2006 | +13.0% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 55.1% over that stretch · deepest drop along the way 61.3%, back to its old high 36.2 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 36.8% over that stretch · deepest drop along the way 38.6%, back to its old high 9.3 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Gained 2.9% over that stretch · deepest drop along the way 14.7%, back to its old high 3 months after the low |
Insider activity
Form 4 filings from 2025-10-30 to 2026-10-30 (25 read): 0 open-market purchases and 1 sales ($149K).
| Date | Insider | Type | Value |
|---|---|---|---|
| Sep 1, 2026 | Mark R Nesselroad Director | sell | $149K |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 5.32% | Mar 31, 2026 |
| Vanguard Portfolio Management | 5.26% | Mar 31, 2026 |
ETFs with the most weight in UBSI
| QABA First Trust NASDAQ ABA Community Bank Index Fund | 2.66% |
| FDIQ Invesco Bloomberg Financial Data Providers ETF | 2.18% |
| TMDV ProShares Russell U.S. Dividend Growers ETF | 1.63% |
| KBE SPDR S&P Bank ETF | 1.1% |
| DVY iShares Select Dividend ETF | 0.5% |
| SVAL iShares US Small Cap Value Factor ETF | 0.5% |
| AUSF Global X Adaptive U.S. Factor ETF | 0.47% |
| PAMC Pacer Lunt MidCap Multi-Factor Alternator ETF | 0.41% |
Recent events
- Quarterly results released
- Other company announcement
- Quarterly results released
- Shareholder vote results
- Quarterly results released
- Quarterly results released
- Other company announcement
For income and retirement investors
United Bankshares has raised its regular dividend for at least 9 straight years. Its filings for fiscal 2016 through 2025 show the dividend rising every year, and the streak may be longer. The raises have been small: dividends per share went from $1.40 in 2020 to $1.49 in 2025, about 1.3% a year. The 2025 dividend used 45% of earnings. The yield was 3.16% as of October 28, 2026. Buybacks totaled about $220 million over fiscal 2021–2025, against about $979 million in dividends. Even so, the share count rose 5.4% between October 2021 and July 2026.
The stock has fallen hard in severe crises. In the 2008 financial crisis it dropped 61.3% from peak to low and took about 36 months to recover. In the 2020 COVID crash it fell 38.6% and recovered in about 9 months. The 2022 bear market was milder: a 14.7% drop, recovered in about 3 months. Single stocks carry more risk than diversified funds.
Questions investors ask
How does United Bankshares make money?
Mostly by lending. United Bank pays interest on deposits and borrowings and earns more interest on its loans and investments. That difference is called net interest income. It was about $1.1 billion of the company's $1.24 billion in revenue in 2025. Most of the other $135 million or so was noninterest income, mainly fees from services such as trust, brokerage and mortgage banking. Net income for 2025 was $464.6 million, up 24.6% from 2024.
Does United Bankshares raise its dividend every year?
It has for at least 9 years in a row. SEC filings show a higher dividend per share in every fiscal year from 2016 through 2025, and the streak may be longer. The raises have been small, though. The regular dividend grew about 1.3% a year from 2020 to 2025, reaching $1.49 per share. That took about 45% of 2025 earnings. The dividend yield was 3.16% as of October 28, 2026.
What is United Bankshares' P/E ratio?
It was about 14.7 as of October 28, 2026, based on 2025 earnings. A P/E ratio is the share price divided by a year's earnings per share. Diluted earnings per share were $3.27 in 2025, up from $2.75 in 2024. Revenue rose 19.6% in 2025, the year of the Piedmont acquisition. The company's market value was about $6.5 billion. Return on equity, which measures profit against shareholders' capital, was 8.5% for 2025.
What banks has United Bankshares acquired?
United has bought many banks and has grown mainly through acquisitions since it began operating in 1984. Recent deals include Carolina Financial of Charleston, South Carolina, with $5.0 billion in assets, completed May 1, 2020. Community Bankers Trust of Richmond, Virginia, with $1.8 billion, followed in December 2021. Piedmont Bancorp of Atlanta, with about $2.4 billion, closed January 10, 2025. Between 2014 and 2017, United also bought Virginia Commerce Bancorp, Bank of Georgetown and Cardinal Financial.
How did UBSI stock hold up in past market crashes?
It fell hard in 2008 and 2020 but held up in 2022. The shares dropped 61.3% between September 19, 2008 and March 6, 2009, and took about 36 months to recover. In the 2020 COVID crash they fell 38.6% and recovered in about 9 months. In the 2022 bear market, the stock gained 2.9% from the market's peak to its low, despite a 14.7% dip along the way. Its one-year beta, a measure of how much it moves with the market, was 0.39 as of October 28, 2026.