United Bankshares Q1 Profit Declines, But Meets Estimates

(RTTNews) - United Bankshares, Inc. (UBSI) reported on Tuesday that net income for the first quarter decreased to $81.66 million or $0.60 per share from $106.90 million or $0.83 per share in the prior-year quarter.

Net interest income for the quarter was relatively flat with the year-ago quarter at $191.50 million, and noninterest income decreased 50 percent from last year to $46.02 million.

On average, six analysts polled by Thomson Reuters expected the company to report earnings of $0.60 per share on revenues of $244.41 million for the quarter. Analysts' estimates typically exclude special items.