32,370 Shares in United Bankshares, Inc. (NASDAQ:UBSI) Acquired by SG Americas Securities LLC

SG Americas Securities LLC bought a new stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 32,370 shares of the financial services provider's stock, valued at approximately $1,122,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of UBSI. Principal Securities Inc. raised 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 purchasing an additional 285 shares during the last quarter. Arizona State Retirement System raised its position in United Bankshares by 0.8% during the 4th quarter. Arizona State Retirement System now owns 39,225 shares of the financial services provider's stock valued at $1,473,000 after purchasing an additional 296 shares during the last quarter. Jones Financial Companies Lllp raised its position in United Bankshares by 55.8% during the 4th quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 310 shares during the last quarter. Tower Research Capital LLC TRC raised its position in United Bankshares by 2.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,432 shares of the financial services provider's stock valued at $467,000 after purchasing an additional 327 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in United Bankshares by 37.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 70.80% of the company's stock.

United Bankshares Stock Up 0.5%

Shares of NASDAQ:UBSI traded up $0.16 during trading on Friday, hitting $34.93. The stock had a trading volume of 2,147,660 shares, compared to its average volume of 642,090. United Bankshares, Inc. has a 12 month low of $30.51 and a 12 month high of $44.43. The company has a market capitalization of $4.96 billion, a PE ratio of 12.99 and a beta of 0.76. The firm's fifty day moving average is $35.40 and its 200 day moving average is $36.30. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10.

United Bankshares (NASDAQ:UBSI - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.07). The company had revenue of $289.61 million during the quarter, compared to analysts' expectations of $279.02 million. United Bankshares had a return on equity of 7.36% and a net margin of 22.35%. The business's quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 EPS. Analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.37 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.48 annualized dividend and a dividend yield of 4.24%. United Bankshares's payout ratio is currently 55.02%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, Director Sara Dumond purchased 2,600 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were bought at an average price of $35.01 per share, for a total transaction of $91,026.00. Following the purchase, the director now directly owns 5,054 shares of the company's stock, valued at approximately $176,940.54. This represents a 105.95% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.46% of the stock is currently owned by company insiders.

United Bankshares Profile

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.