StoneX Group Inc. Takes Position in United Bankshares, Inc. (NASDAQ:UBSI)

StoneX Group Inc. purchased a new position in United Bankshares, Inc. (NASDAQ:UBSI) in the 4th quarter, Holdings Channel.com reports. The firm purchased 17,907 shares of the financial services provider’s stock, valued at approximately $672,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC raised its stake in United Bankshares by 292.0% during the third quarter. FMR LLC now owns 82,997 shares of the financial services provider’s stock worth $3,079,000 after acquiring an additional 61,822 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of United Bankshares by 73.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 50,953 shares of the financial services provider’s stock worth $1,890,000 after purchasing an additional 21,520 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in United Bankshares by 4.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,166 shares of the financial services provider’s stock valued at $1,082,000 after purchasing an additional 1,197 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in United Bankshares by 1.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 250,618 shares of the financial services provider’s stock valued at $9,298,000 after buying an additional 4,037 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in United Bankshares by 11.1% during the third quarter. Captrust Financial Advisors now owns 73,145 shares of the financial services provider’s stock worth $2,714,000 after buying an additional 7,282 shares during the last quarter. Institutional investors own 70.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Stephens reiterated an “equal weight” rating and issued a $43.00 target price on shares of United Bankshares in a research note on Monday, January 27th. Piper Sandler reissued a “neutral” rating and issued a $38.50 price objective on shares of United Bankshares in a research note on Wednesday, March 12th. Keefe, Bruyette & Woods lowered their target price on United Bankshares from $46.00 to $45.00 and set a “market perform” rating for the company in a research note on Monday, January 27th. Finally, StockNews.com downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, United Bankshares presently has an average rating of “Hold” and an average target price of $41.88.

United Bankshares Stock Up 0.8 %

NASDAQ UBSI opened at $34.71 on Thursday. The stock has a market capitalization of $4.97 billion, a P/E ratio of 12.67 and a beta of 0.91. United Bankshares, Inc. has a 52 week low of $30.68 and a 52 week high of $44.43. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a fifty day moving average of $36.37 and a 200-day moving average of $37.97.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings data on Friday, January 24th. The financial services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. During the same period last year, the business earned $0.59 earnings per share. On average, equities research analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.37 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 4.26%. United Bankshares’s dividend payout ratio is currently 54.01%.

Insiders Place Their Bets

In related news, Director Sara Dumond purchased 2,600 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were bought at an average price of $35.01 per share, with a total value of $91,026.00. Following the purchase, the director now directly owns 5,054 shares in the company, valued at $176,940.54. This trade represents a 105.95 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.66% of the company’s stock.

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.