Hsbc Holdings PLC Increases Stake in United Bankshares, Inc. (NASDAQ:UBSI)

Hsbc Holdings PLC grew its position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 134.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 25,202 shares of the financial services provider's stock after acquiring an additional 14,460 shares during the quarter. Hsbc Holdings PLC's holdings in United Bankshares were worth $948,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank acquired a new position in shares of United Bankshares during the 4th quarter worth about $54,712,000. Raymond James Financial Inc. acquired a new stake in United Bankshares during the 4th quarter worth $14,948,000. JPMorgan Chase & Co. boosted its stake in United Bankshares by 39.7% during the 4th quarter. JPMorgan Chase & Co. now owns 830,774 shares of the financial services provider's stock worth $31,196,000 after purchasing an additional 235,955 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of United Bankshares in the fourth quarter valued at about $7,383,000. Finally, Barclays PLC lifted its stake in shares of United Bankshares by 89.5% in the third quarter. Barclays PLC now owns 269,852 shares of the financial services provider's stock worth $10,012,000 after buying an additional 127,486 shares in the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

UBSI has been the subject of a number of recent research reports. Stephens reiterated an "equal weight" rating and issued a $43.00 price objective on shares of United Bankshares in a report on Monday, January 27th. Piper Sandler restated a "neutral" rating and issued a $38.50 target price on shares of United Bankshares in a report on Wednesday, March 12th. Keefe, Bruyette & Woods reduced their price target on United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Finally, StockNews.com lowered shares of United Bankshares from a "hold" rating to a "sell" rating in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $40.63.

Insider Activity

In other news, Director Sara Dumond acquired 2,600 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was acquired at an average cost of $35.01 per share, with a total value of $91,026.00. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.46% of the company's stock.

United Bankshares Trading Down 0.9 %

Shares of UBSI traded down $0.33 during trading on Tuesday, reaching $34.96. 416,376 shares of the company traded hands, compared to its average volume of 618,895. The stock has a 50-day simple moving average of $34.08 and a 200-day simple moving average of $37.30. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. United Bankshares, Inc. has a twelve month low of $30.51 and a twelve month high of $44.43. The stock has a market cap of $5.02 billion, a PE ratio of 12.76 and a beta of 0.74.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.07). United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. The business had revenue of $289.61 million for the quarter, compared to analyst estimates of $279.02 million. During the same quarter last year, the company earned $0.64 earnings per share. United Bankshares's quarterly revenue was up 13.7% compared to the same quarter last year. On average, analysts anticipate that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 4.23%. United Bankshares's dividend payout ratio is presently 55.02%.

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.