StoneX Group Inc. Makes New Investment in United Bankshares, Inc. (NASDAQ:UBSI)

StoneX Group Inc. acquired a new position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 17,907 shares of the financial services provider's stock, valued at approximately $672,000.

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

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Insider Activity

In other United Bankshares news, Director Sara Dumond acquired 2,600 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was bought at an average cost of $35.01 per share, with a total value of $91,026.00. Following the completion of the purchase, the director now directly owns 5,054 shares in the company, valued at $176,940.54. The trade was a 105.95 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.66% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on UBSI shares. Stephens restated an "equal weight" rating and set a $43.00 price objective on shares of United Bankshares in a research report on Monday, January 27th. Piper Sandler restated a "neutral" rating and issued a $38.50 price objective on shares of United Bankshares in a research report on Wednesday, March 12th. StockNews.com cut United Bankshares from a "hold" rating to a "sell" rating in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods lowered their price target on United Bankshares from $46.00 to $45.00 and set a "market perform" rating on the stock in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $41.88.

United Bankshares Price Performance

UBSI traded up $0.01 during trading hours on Monday, hitting $31.66. The company's stock had a trading volume of 484,518 shares, compared to its average volume of 575,759. The business's 50-day moving average price is $36.11 and its 200-day moving average price is $37.90. United Bankshares, Inc. has a 12 month low of $30.10 and a 12 month high of $44.43. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of 11.45 and a beta of 0.91.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share (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 in the prior year, the firm earned $0.59 earnings per share. Sell-side analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.68%. The ex-dividend date was Friday, March 14th. United Bankshares's payout ratio is currently 54.01%.

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.