SG Americas Securities LLC Invests $1.12 Million in United Bankshares, Inc. (NASDAQ:UBSI)

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

Several other hedge funds also recently made changes to their positions in UBSI. Vanguard Group Inc. grew its position in United Bankshares by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 14,310,562 shares of the financial services provider's stock worth $537,362,000 after buying an additional 115,681 shares in the last quarter. Earnest Partners LLC boosted its position in shares of United Bankshares by 0.7% during the 4th quarter. Earnest Partners LLC now owns 4,199,136 shares of the financial services provider's stock valued at $157,678,000 after acquiring an additional 29,898 shares during the last quarter. Northern Trust Corp grew its holdings in shares of United Bankshares by 13.7% during the fourth quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider's stock worth $66,614,000 after purchasing an additional 213,441 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of United Bankshares by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,710,588 shares of the financial services provider's stock worth $64,233,000 after purchasing an additional 37,532 shares during the last quarter. Finally, Norges Bank bought a new position in shares of United Bankshares in the fourth quarter worth approximately $54,712,000. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Sara Dumond bought 2,600 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were bought at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the completion of the transaction, the director now owns 5,054 shares of the company's stock, valued at approximately $176,940.54. This trade represents a 105.95% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.46% of the company's stock.

Wall Street Analyst Weigh In

UBSI has been the subject of a number of research reports. Wall Street Zen cut shares of United Bankshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Keefe, Bruyette & Woods dropped their price objective on shares of United Bankshares from $42.00 to $40.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $38.50 target price on shares of United Bankshares in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. According to MarketBeat.com, United Bankshares has a consensus rating of "Hold" and an average price target of $40.63.

United Bankshares Stock Up 0.5%

NASDAQ:UBSI traded up $0.17 during mid-day trading on Thursday, hitting $34.77. 790,806 shares of the company's stock were exchanged, compared to its average volume of 638,435. The company has a market cap of $4.94 billion, a PE ratio of 12.93 and a beta of 0.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98. United Bankshares, Inc. has a one year low of $30.51 and a one year high of $44.43. The business has a fifty day moving average price of $35.28 and a 200 day moving average price of $36.43.

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

United Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.48 annualized dividend and a yield of 4.26%. United Bankshares's payout ratio 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.