Hsbc Holdings PLC Has $1.40 Million Stock Holdings in United Bankshares, Inc. $UBSI

Key Points

• Hsbc Holdings PLC increased its stake in United Bankshares, Inc. by 61.4%, acquiring an additional 15,480 shares, bringing its total holdings to 40,682 shares valued at approximately $1.4 million.
• United Bankshares announced a quarterly dividend of $0.37 per share, resulting in an annualized dividend of $1.48 and a yield of 3.8%, with the payout ratio currently at 52.3%.
• Despite a decrease of 0.6% in share price, United Bankshares reported earnings per share of $0.85 for the last quarter, surpassing analyst expectations of $0.77.

Hsbc Holdings PLC lifted its position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 61.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,682 shares of the financial services provider's stock after acquiring an additional 15,480 shares during the quarter. Hsbc Holdings PLC's holdings in United Bankshares were worth $1,404,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in UBSI. Nuveen LLC acquired a new position in United Bankshares in the 1st quarter valued at approximately $28,526,000. Northern Trust Corp increased its stake in United Bankshares by 13.7% in the 4th quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider's stock valued at $66,614,000 after buying an additional 213,441 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in United Bankshares by 52.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 381,062 shares of the financial services provider's stock valued at $14,309,000 after buying an additional 130,444 shares during the period. Dover Advisors LLC acquired a new position in United Bankshares in the 1st quarter valued at approximately $3,015,000. Finally, Invesco Ltd. increased its stake in United Bankshares by 8.9% in the 1st quarter. Invesco Ltd. now owns 980,553 shares of the financial services provider's stock valued at $33,996,000 after buying an additional 80,176 shares during the period. Institutional investors and hedge funds own 70.80% of the company's stock.

United Bankshares Stock Performance

UBSI stock traded up $0.04 during midday trading on Wednesday, hitting $38.05. 408,539 shares of the company traded hands, compared to its average volume of 559,248. United Bankshares, Inc. has a twelve month low of $30.50 and a twelve month high of $44.43. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10. The business has a 50 day simple moving average of $37.17 and a 200-day simple moving average of $35.80. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 13.45 and a beta of 0.82.

United Bankshares (NASDAQ:UBSI - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.77 by $0.08. United Bankshares had a return on equity of 7.65% and a net margin of 23.14%.The company had revenue of $306.00 million for the quarter, compared to the consensus estimate of $297.98 million. During the same quarter last year, the company posted $0.71 earnings per share. As a group, equities research analysts predict 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 will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, September 12th. United Bankshares's dividend payout ratio (DPR) is 52.30%.

Analysts Set New Price Targets

Several research firms have weighed in on UBSI. Wall Street Zen lowered shares of United Bankshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Zacks Research upgraded shares of United Bankshares to a "hold" rating in a research note on Friday, August 8th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, United Bankshares has a consensus rating of "Hold" and a consensus price target of $40.50.

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.