SG Americas Securities LLC Has $911,000 Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

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SG Americas Securities LLC increased its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 64.0% in the second quarter, Holdings Channel reports. The firm owned 32,952 shares of the financial services provider’s stock after buying an additional 12,859 shares during the quarter. SG Americas Securities LLC’s holdings in United Bankshares were worth $911,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Valeo Financial Advisors LLC grew its stake in shares of United Bankshares by 9.1% during the second quarter. Valeo Financial Advisors LLC now owns 9,818 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 818 shares during the period. Tributary Capital Management LLC grew its stake in United Bankshares by 146.4% in the second quarter. Tributary Capital Management LLC now owns 835,949 shares of the financial services provider’s stock valued at $23,122,000 after acquiring an additional 496,674 shares during the period. Sheets Smith Wealth Management acquired a new position in United Bankshares in the second quarter valued at about $491,000. Raymond James Financial Services Advisors Inc. grew its stake in United Bankshares by 87.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 40,669 shares of the financial services provider’s stock valued at $1,125,000 after acquiring an additional 18,994 shares during the period. Finally, Nachman Norwood & Parrott Inc acquired a new position in United Bankshares in the second quarter valued at about $418,000. 69.00% of the stock is owned by institutional investors and hedge funds.

UBSI opened at $26.32 on Friday. United Bankshares, Inc. has a 52-week low of $19.67 and a 52-week high of $40.70. The firm has a market capitalization of $2.76 billion, a PE ratio of 12.47 and a beta of 1.43. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.05 and a current ratio of 1.05. The business’s 50-day simple moving average is $27.23 and its 200 day simple moving average is $28.62.

United Bankshares (NASDAQ:UBSI) last released its earnings results on Friday, July 24th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. United Bankshares had a return on equity of 6.35% and a net margin of 23.18%. The business had revenue of $258.99 million for the quarter, compared to analyst estimates of $222.93 million. During the same quarter in the prior year, the company posted $0.66 earnings per share. On average, research analysts forecast that United Bankshares, Inc. will post 1.86 earnings per share for the current year.

A number of research analysts have issued reports on the company. Zacks Investment Research raised United Bankshares from a “sell” rating to a “hold” rating in a research note on Tuesday, May 26th. BidaskClub lowered United Bankshares from a “sell” rating to a “strong sell” rating in a report on Saturday, June 13th. ValuEngine upgraded United Bankshares from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. Raymond James lowered United Bankshares from an “outperform” rating to a “market perform” rating in a report on Monday, May 4th. Finally, Piper Sandler boosted their price target on United Bankshares from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, July 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $29.70.

In other United Bankshares news, Director Gary G. White acquired 1,925 shares of the company’s stock in a transaction on Monday, May 4th. The shares were purchased at an average price of $28.63 per share, for a total transaction of $55,112.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Craige L. Smith sold 8,500 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $29.60, for a total value of $251,600.00. Following the completion of the sale, the insider now owns 21,921 shares in the company, valued at approximately $648,861.60. The disclosure for this sale can be found here. Corporate insiders own 5.80% of the company’s stock.

United Bankshares Profile

United Bankshares, Inc, a financial holding company, 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.

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Want to see what other hedge funds are holding UBSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Bankshares, Inc. (NASDAQ:UBSI).

Institutional Ownership by Quarter for United Bankshares (NASDAQ:UBSI)

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