19,191 Shares of United Bankshares, Inc. $UBSI Bought by StoneX Group Inc.

StoneX Group Inc. bought a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 19,191 shares of the financial services provider’s stock, valued at approximately $890,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in United Bankshares in the 2nd quarter worth approximately $925,212,000. Dimensional Fund Advisors LP boosted its position in shares of United Bankshares by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 7,661,331 shares of the financial services provider’s stock valued at $317,327,000 after acquiring an additional 56,808 shares during the period. Bank of America Corp DE boosted its position in shares of United Bankshares by 20.5% in the first quarter. Bank of America Corp DE now owns 1,631,894 shares of the financial services provider’s stock valued at $67,593,000 after acquiring an additional 277,836 shares during the period. Bank of New York Mellon Corp grew its stake in shares of United Bankshares by 0.8% in the first quarter. Bank of New York Mellon Corp now owns 1,362,254 shares of the financial services provider’s stock worth $56,425,000 after acquiring an additional 10,646 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of United Bankshares by 7.5% in the first quarter. First Trust Advisors LP now owns 570,961 shares of the financial services provider’s stock worth $23,649,000 after acquiring an additional 39,712 shares during the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Weiss Ratings upgraded shares of United Bankshares from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, November 2nd. Keefe, Bruyette & Woods increased their price target on shares of United Bankshares from $46.00 to $48.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Hovde Group raised their price target on shares of United Bankshares from $49.00 to $50.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Piper Sandler boosted their price objective on shares of United Bankshares from $51.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, October 26th. Finally, Wall Street Zen raised shares of United Bankshares from a “sell” rating to a “hold” rating in a research report on Sunday, November 1st. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $49.20.

United Bankshares Stock Performance

UBSI opened at $48.60 on Wednesday. The stock has a market cap of $6.62 billion, a PE ratio of 13.17 and a beta of 0.73. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. United Bankshares, Inc. has a 1 year low of $34.68 and a 1 year high of $50.47. The stock’s 50 day simple moving average is $47.22 and its 200-day simple moving average is $45.03.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, October 22nd. The financial services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.93 by $0.01. United Bankshares had a return on equity of 9.37% and a net margin of 28.03%. The firm had revenue of $325.10 million during the quarter, compared to analysts’ expectations of $327.23 million. During the same period last year, the business earned $0.92 earnings per share. Sell-side analysts forecast that United Bankshares, Inc. will post 3.74 EPS for the current year.

United Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 11th were paid a $0.38 dividend. The ex-dividend date was Friday, September 11th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.1%. United Bankshares’s dividend payout ratio is currently 41.19%.

Insider Activity

In other news, Director Mark Nesselroad sold 3,200 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $46.42, for a total transaction of $148,544.00. Following the completion of the transaction, the director directly owned 32,224 shares of the company’s stock, valued at approximately $1,495,838.08. This trade represents a 9.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.16% of the company’s stock.

United Bankshares Profile

United Bankshares, Inc. is a bank holding company whose principal subsidiary, United Bank, provides commercial and consumer banking services. Its offerings include deposit accounts, business and personal loans, mortgage lending, and online and mobile banking, as well as wealth management and trust services. Based in Charleston, West Virginia, United Bankshares serves customers through branches and other banking channels across the Mid-Atlantic and parts of the Southeast, including West Virginia, Virginia, Maryland, Washington, D.C., Ohio, Pennsylvania, and North Carolina.