Hsbc Holdings PLC Grows Stake 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 increased its position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 61.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,682 shares of the financial services provider's stock after acquiring an additional 15,480 shares during the period. Hsbc Holdings PLC's holdings in United Bankshares were worth $1,404,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its holdings in United Bankshares by 726.5% during the 1st quarter. Farther Finance Advisors LLC now owns 967 shares of the financial services provider's stock valued at $33,000 after buying an additional 850 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in United Bankshares by 144.2% during the 1st quarter. Meeder Asset Management Inc. now owns 1,155 shares of the financial services provider's stock valued at $40,000 after buying an additional 682 shares during the last quarter. CWM LLC grew its holdings in United Bankshares by 226.9% during the 1st quarter. CWM LLC now owns 1,651 shares of the financial services provider's stock valued at $57,000 after buying an additional 1,146 shares during the last quarter. Fifth Third Bancorp grew its holdings in United Bankshares by 44.4% during the 1st quarter. Fifth Third Bancorp now owns 1,699 shares of the financial services provider's stock valued at $59,000 after buying an additional 522 shares during the last quarter. Finally, Hughes Financial Services LLC acquired a new stake in United Bankshares during the 1st quarter valued at $60,000. Institutional investors and hedge funds own 70.80% of the company's stock.

United Bankshares Trading Down 1.3%

Shares of UBSI traded down $0.51 during trading hours on Tuesday, hitting $37.83. The stock had a trading volume of 161,426 shares, compared to its average volume of 774,182. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $5.36 billion, a P/E ratio of 13.37 and a beta of 0.82. The company's fifty day simple moving average is $37.10 and its 200 day simple moving average is $35.77. United Bankshares, Inc. has a 12-month low of $30.50 and a 12-month high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.08. The business had revenue of $306.00 million for the quarter, compared to analyst estimates of $297.98 million. United Bankshares had a return on equity of 7.65% and a net margin of 23.14%.During the same period last year, the company posted $0.71 EPS. Equities research analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.48 annualized dividend and a yield of 3.9%. United Bankshares's dividend payout ratio (DPR) is 52.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on UBSI shares. Wall Street Zen cut United Bankshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Zacks Research upgraded United Bankshares to a "hold" rating in a report on Friday, August 8th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, United Bankshares has a consensus rating of "Hold" and a consensus target price of $40.50.

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.