SG Americas Securities LLC Acquires Shares of 32,370 United Bankshares, Inc. (NASDAQ:UBSI)

SG Americas Securities LLC acquired a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 32,370 shares of the financial services provider’s stock, valued at approximately $1,122,000.

Several other institutional investors also recently modified their holdings of the business. Brighton Jones LLC raised its holdings in shares of United Bankshares by 4.6% in the 4th quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider’s stock valued at $634,000 after acquiring an additional 748 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of United Bankshares by 1.3% during the fourth quarter. Rhumbline Advisers now owns 455,157 shares of the financial services provider’s stock valued at $17,091,000 after purchasing an additional 6,002 shares during the period. Principal Securities Inc. boosted its position in United Bankshares by 10.1% during the 4th quarter. Principal Securities Inc. now owns 3,115 shares of the financial services provider’s stock valued at $117,000 after buying an additional 285 shares during the period. Truist Financial Corp grew its stake in shares of United Bankshares by 69.8% in the fourth quarter. Truist Financial Corp now owns 22,916 shares of the financial services provider’s stock worth $860,000 after purchasing an additional 9,418 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new position in shares of United Bankshares during the fourth quarter valued at approximately $469,000. 70.80% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Sara Dumond acquired 2,600 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was bought at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the purchase, the director now owns 5,054 shares in the company, valued at $176,940.54. The trade was a 105.95% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.66% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on UBSI shares. Keefe, Bruyette & Woods decreased their price target on shares of United Bankshares from $42.00 to $40.00 and set a “market perform” rating for the company in a research note on Monday, April 28th. Wall Street Zen cut shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Finally, Piper Sandler reissued a “neutral” rating and issued a $38.50 target price on shares of United Bankshares in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $40.63.

United Bankshares Stock Down 1.0%

UBSI stock opened at $34.60 on Wednesday. The business’s 50-day moving average is $35.25 and its two-hundred day moving average is $36.45. United Bankshares, Inc. has a fifty-two week low of $30.51 and a fifty-two week high of $44.43. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 12.86 and a beta of 0.76.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.07). United Bankshares had a net margin of 22.35% and a return on equity of 7.36%. The business had revenue of $289.61 million for the quarter, compared to analysts’ expectations of $279.02 million. During the same period in the prior year, the company posted $0.64 earnings per share. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. As a group, analysts forecast that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.48 annualized dividend and a dividend yield of 4.28%. United Bankshares’s dividend payout ratio (DPR) is 55.02%.

About United Bankshares

United Bankshares, Inc, through its subsidiaries, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts.