In a story Jan. 29 about United Bankshares Inc.'s financial results, The Associated Press reported erroneously, in a report generated by Automated Insights using data from Zacks Investment Research, that the company was the parent of Union Bank. It owns United Bank.
A corrected version of the story is below:
United Bankshares posts 4Q profit
United Bankshares posts profit of $33.3 million in fourth quarter
United Bankshares Inc. (UBSI) on Thursday reported fourth-quarter net income of $33.3 million.
The Charleston, West Virginia-based bank said it had earnings of 48 cents per share.
The results missed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.
The holding company for United Bank posted revenue of $121.5 million in the period.
For the year, the company reported profit of $129.9 million, or $1.92 per share. Revenue was reported as $463 million.
United Bankshares shares have fallen nearly 8 percent since the beginning of the year. The stock has climbed 17 percent in the last 12 months.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UBSI at http://www.zacks.com/ap/UBSI
Keywords: United Bankshares, Earnings Report