United Bankshares, Inc. $UBSI Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 28.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,530 shares of the financial services provider’s stock after selling 16,336 shares during the quarter. SG Americas Securities LLC’s holdings in United Bankshares were worth $1,679,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in United Bankshares in the third quarter valued at $25,000. Eurizon Capital SGR S.p.A. purchased a new stake in United Bankshares during the 4th quarter worth about $26,000. Farther Finance Advisors LLC increased its holdings in United Bankshares by 196.2% during the 4th quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 567 shares during the period. EverSource Wealth Advisors LLC increased its holdings in United Bankshares by 528.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 988 shares during the period. Finally, Rothschild Investment LLC raised its position in United Bankshares by 47.5% in the 4th quarter. Rothschild Investment LLC now owns 1,236 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 398 shares in the last quarter. 70.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Hovde Group started coverage on United Bankshares in a research note on Wednesday, June 24th. They issued a “market perform” rating and a $49.00 price objective for the company. Wall Street Zen cut shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Raymond James Financial lifted their price target on shares of United Bankshares from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Zacks Research cut shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $46.60.

United Bankshares Stock Performance

NASDAQ UBSI opened at $46.38 on Friday. The company has a fifty day moving average of $43.98 and a two-hundred day moving average of $42.40. The company has a market capitalization of $6.39 billion, a PE ratio of 12.99 and a beta of 0.71. United Bankshares, Inc. has a 1 year low of $34.10 and a 1 year high of $47.25. 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 (NASDAQ:UBSI) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. United Bankshares had a return on equity of 9.26% and a net margin of 27.45%.The business had revenue of $316.58 million for the quarter, compared to analysts’ expectations of $315.15 million. During the same quarter in the previous year, the firm earned $0.59 earnings per share. As a group, analysts expect that United Bankshares, Inc. will post 3.64 earnings per share for the current year.

United Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $1.52 annualized dividend and a yield of 3.3%. United Bankshares’s payout ratio is 42.58%.

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.