SG Americas Securities LLC Has $789,000 Stake in United Bankshares, Inc. $UBSI

SG Americas Securities LLC decreased its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 76.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 21,193 shares of the financial services provider’s stock after selling 67,741 shares during the period. SG Americas Securities LLC’s holdings in United Bankshares were worth $789,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UBSI. Regent Peak Wealth Advisors LLC acquired a new stake in United Bankshares during the third quarter worth about $1,886,000. Y Intercept Hong Kong Ltd bought a new position in United Bankshares during the second quarter worth about $378,000. Commonwealth Financial Services LLC boosted its holdings in United Bankshares by 521.5% during the third quarter. Commonwealth Financial Services LLC now owns 37,248 shares of the financial services provider’s stock valued at $1,386,000 after purchasing an additional 31,255 shares in the last quarter. Truist Financial Corp grew its stake in shares of United Bankshares by 81.8% in the 2nd quarter. Truist Financial Corp now owns 22,375 shares of the financial services provider’s stock valued at $815,000 after purchasing an additional 10,069 shares during the period. Finally, Dynamic Technology Lab Private Ltd grew its position in United Bankshares by 31.4% in the second quarter. Dynamic Technology Lab Private Ltd now owns 28,221 shares of the financial services provider’s stock valued at $1,028,000 after acquiring an additional 6,741 shares during the period. 70.80% of the stock is currently owned by institutional investors and hedge funds.

United Bankshares Price Performance

Shares of UBSI stock opened at $40.46 on Wednesday. United Bankshares, Inc. has a 1 year low of $30.50 and a 1 year high of $41.53. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.10. The firm’s 50 day moving average is $38.67 and its 200-day moving average is $37.54. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 13.27 and a beta of 0.78.

United Bankshares (NASDAQ:UBSI) last released its earnings results on Thursday, October 23rd. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.82 by $0.10. United Bankshares had a return on equity of 8.15% and a net margin of 24.37%.The company had revenue of $280.90 million during the quarter, compared to analysts’ expectations of $307.78 million. During the same period last year, the firm earned $0.70 EPS. Sell-side analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, December 12th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, December 12th. This is a boost from United Bankshares’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a yield of 3.8%. United Bankshares’s payout ratio is currently 49.84%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Zacks Research cut shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 22nd. Piper Sandler set a $42.50 target price on United Bankshares and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of United Bankshares in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $41.83.

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.