StoneX Group Inc. Buys New Stake in United Bankshares, Inc. $UBSI

StoneX Group Inc. purchased a new stake in United Bankshares, Inc. (NASDAQ:UBSI) during the 3rd quarter, HoldingsChannel reports. The fund purchased 19,191 shares of the financial services provider’s stock, valued at approximately $890,000.

A number of other large investors have also recently bought and sold shares of the stock. Verity Asset Management Inc. lifted its holdings in shares of United Bankshares by 2.5% during the third quarter. Verity Asset Management Inc. now owns 37,260 shares of the financial services provider’s stock valued at $1,712,000 after acquiring an additional 899 shares during the period. TSG Advice Partners LLC acquired a new stake in shares of United Bankshares during the 3rd quarter worth about $321,000. Vise Technologies Inc. increased its position in shares of United Bankshares by 35.6% during the 3rd quarter. Vise Technologies Inc. now owns 13,741 shares of the financial services provider’s stock worth $631,000 after purchasing an additional 3,606 shares in the last quarter. Moss Adams Wealth Advisors LLC bought a new position in United Bankshares during the 3rd quarter valued at about $240,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in United Bankshares by 5.0% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 37,900 shares of the financial services provider’s stock valued at $1,741,000 after purchasing an additional 1,800 shares during the last quarter. 70.80% of the stock is currently owned by institutional investors.

United Bankshares Stock Performance

United Bankshares stock opened at $48.60 on Wednesday. The stock has a 50-day simple moving average of $47.22 and a 200 day simple moving average of $45.03. The stock has a market capitalization of $6.62 billion, a price-to-earnings ratio of 13.17 and a beta of 0.73. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.10. United Bankshares, Inc. has a 12-month low of $34.68 and a 12-month high of $50.47.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. The firm had revenue of $325.10 million for the quarter, compared to analyst estimates of $327.23 million. United Bankshares had a net margin of 28.03% and a return on equity of 9.37%. During the same quarter in the prior year, the firm earned $0.92 EPS. On average, research analysts anticipate that United Bankshares, Inc. will post 3.74 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Activity

In other United Bankshares news, Director Mark Nesselroad sold 3,200 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $46.42, for a total value of $148,544.00. Following the transaction, the director owned 32,224 shares of the company’s stock, valued at approximately $1,495,838.08. This represents a 9.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.16% of the stock is owned by corporate insiders.

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.