SG Americas Securities LLC Acquires 35,673 Shares of United Bankshares, Inc. $UBSI

Key Points

• SG Americas Securities LLC boosted its stake in United Bankshares by 168.3%, purchasing 35,673 shares to hold 56,866 shares worth $2.184 million at the end of the quarter.
• Other institutions made large moves — Norges Bank initiated a roughly $60.6 million position and First Trust Advisors added 1.52 million shares to hold 1.94 million shares (~$70.5M); overall institutional ownership stands near 70.8%.
• United Bankshares recently beat Q4 estimates with EPS $0.91 (vs. $0.86) and revenue of $430.85M, and pays a quarterly dividend of $0.38 (annualized $1.52) for a 3.6% yield, with a consensus price target of $44.67.

SG Americas Securities LLC lifted its stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 168.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,866 shares of the financial services provider's stock after purchasing an additional 35,673 shares during the period. SG Americas Securities LLC's holdings in United Bankshares were worth $2,184,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in United Bankshares in the second quarter valued at approximately $60,618,000. First Trust Advisors LP boosted its position in shares of United Bankshares by 367.5% during the second quarter. First Trust Advisors LP now owns 1,935,979 shares of the financial services provider's stock worth $70,528,000 after purchasing an additional 1,521,864 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of United Bankshares by 65.5% in the 3rd quarter. AQR Capital Management LLC now owns 930,252 shares of the financial services provider's stock valued at $34,615,000 after buying an additional 368,141 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of United Bankshares by 64.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 782,292 shares of the financial services provider's stock valued at $29,109,000 after buying an additional 307,159 shares during the period. Finally, Verition Fund Management LLC increased its position in shares of United Bankshares by 89.5% in the 3rd quarter. Verition Fund Management LLC now owns 520,964 shares of the financial services provider's stock valued at $19,385,000 after buying an additional 246,006 shares in the last quarter. 70.80% of the stock is owned by institutional investors and hedge funds.

United Bankshares Stock Performance

United Bankshares stock opened at $41.87 on Friday. The stock has a 50-day simple moving average of $41.96 and a 200 day simple moving average of $39.30. The stock has a market capitalization of $5.84 billion, a P/E ratio of 12.80 and a beta of 0.73. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.99. United Bankshares, Inc. has a 52 week low of $30.50 and a 52 week high of $45.92.

United Bankshares (NASDAQ:UBSI - Get Free Report) last announced its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.05. The business had revenue of $430.85 million during the quarter, compared to the consensus estimate of $315.50 million. United Bankshares had a return on equity of 8.60% and a net margin of 25.51%.During the same quarter last year, the firm posted $0.69 EPS. Analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, March 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.6%. United Bankshares's dividend payout ratio (DPR) is 46.48%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of United Bankshares from $40.00 to $43.00 and gave the stock a "market perform" rating in a report on Monday, January 26th. Stephens increased their target price on United Bankshares from $40.00 to $44.00 and gave the stock an "equal weight" rating in a report on Friday, January 23rd. Zacks Research downgraded United Bankshares from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 26th. Piper Sandler restated an "overweight" rating and issued a $47.00 price target on shares of United Bankshares in a report on Monday, January 26th. Finally, Weiss Ratings raised United Bankshares from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, February 13th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $44.67.

United Bankshares Company Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company's core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.

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