StoneX Group Inc. Makes New $672,000 Investment in United Bankshares, Inc. (NASDAQ:UBSI)

StoneX Group Inc. bought a new stake in United Bankshares, Inc. (NASDAQ:UBSI) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,907 shares of the financial services provider’s stock, valued at approximately $672,000.

Other hedge funds have also made changes to their positions in the company. Integrated Investment Consultants LLC increased its position in United Bankshares by 2.2% in the 4th quarter. Integrated Investment Consultants LLC now owns 12,537 shares of the financial services provider’s stock worth $471,000 after purchasing an additional 270 shares during the last quarter. Principal Securities Inc. raised its position in United Bankshares by 10.1% during the fourth quarter. Principal Securities Inc. now owns 3,115 shares of the financial services provider’s stock valued at $117,000 after acquiring an additional 285 shares in the last quarter. Arizona State Retirement System lifted its stake in United Bankshares by 0.8% in the fourth quarter. Arizona State Retirement System now owns 39,225 shares of the financial services provider’s stock valued at $1,473,000 after acquiring an additional 296 shares during the last quarter. Jones Financial Companies Lllp grew its position in United Bankshares by 55.8% in the fourth quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 310 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of United Bankshares by 1.7% during the 3rd quarter. HighTower Advisors LLC now owns 19,542 shares of the financial services provider’s stock worth $730,000 after purchasing an additional 332 shares during the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.

United Bankshares Trading Up 0.8 %

United Bankshares stock opened at $34.71 on Thursday. The business’s 50-day simple moving average is $36.37 and its 200-day simple moving average is $37.97. United Bankshares, Inc. has a 52 week low of $30.68 and a 52 week high of $44.43. The firm has a market capitalization of $4.97 billion, a PE ratio of 12.67 and a beta of 0.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 EPS for the quarter, topping the consensus estimate 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 company posted $0.59 EPS. Equities research analysts forecast that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date was Friday, March 14th. United Bankshares’s dividend payout ratio (DPR) is presently 54.01%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of 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. StockNews.com downgraded United Bankshares from a “hold” rating to a “sell” rating in a research note on Monday, January 27th. Piper Sandler reissued a “neutral” rating and set a $38.50 price objective on shares of United Bankshares in a report on Wednesday, March 12th. Finally, Stephens restated an “equal weight” rating and issued a $43.00 target price on shares of United Bankshares in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $41.88.

Insiders Place Their Bets

In other news, Director Sara Dumond acquired 2,600 shares of United Bankshares stock in a transaction on Monday, March 24th. The stock was bought at an average price of $35.01 per share, for a total transaction of $91,026.00. Following the transaction, the director now owns 5,054 shares of the company’s stock, valued at $176,940.54. The trade was a 105.95 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.66% of the company’s stock.

United Bankshares Profile

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.