Hsbc Holdings PLC Invests $696,000 in United Bankshares, Inc. $UBSI

Hsbc Holdings PLC purchased a new position in United Bankshares, Inc. (NASDAQ:UBSI) during the fourth quarter, HoldingsChannel reports. The firm purchased 18,075 shares of the financial services provider’s stock, valued at approximately $696,000.

Several other institutional investors also recently bought and sold shares of UBSI. JPMorgan Chase & Co. lifted its position in United Bankshares by 64.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 782,292 shares of the financial services provider’s stock valued at $29,109,000 after acquiring an additional 307,159 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of United Bankshares by 168.3% in the 4th quarter. SG Americas Securities LLC now owns 56,866 shares of the financial services provider’s stock worth $2,184,000 after purchasing an additional 35,673 shares in the last quarter. 1834 Investment Advisors Co. purchased a new position in shares of United Bankshares in the fourth quarter worth $3,700,000. Artemis Investment Management LLP purchased a new position in shares of United Bankshares in the fourth quarter worth $1,801,000. Finally, OLD National Bancorp IN bought a new position in shares of United Bankshares during the fourth quarter valued at $4,895,000. 70.80% of the stock is owned by hedge funds and other institutional investors.

United Bankshares Price Performance

NASDAQ UBSI opened at $46.69 on Thursday. The stock has a market capitalization of $6.43 billion, a price-to-earnings ratio of 13.08 and a beta of 0.71. United Bankshares, Inc. has a 1-year low of $34.10 and a 1-year high of $47.25. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98. The business’s fifty day moving average price is $44.42 and its 200-day moving average price is $42.80.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.85 by $0.04. The company had revenue of $316.58 million during the quarter, compared to analyst estimates of $315.15 million. United Bankshares had a return on equity of 9.26% and a net margin of 27.45%.During the same quarter in the previous year, the company posted $0.59 earnings per share. On average, equities analysts predict that United Bankshares, Inc. will post 3.64 earnings per share for the current year.

United Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, June 12th. United Bankshares’s payout ratio is currently 42.58%.

Wall Street Analyst Weigh In

Several research firms recently commented on UBSI. Raymond James Financial increased their price objective on United Bankshares from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Hovde Group began coverage on United Bankshares in a research report on Wednesday, June 24th. They issued a “market perform” rating and a $49.00 target price for the company. Wall Street Zen cut shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Zacks Research downgraded shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of United Bankshares in a research note on Monday, July 6th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, United Bankshares currently has an average rating of “Hold” and a consensus price target of $46.60.

United Bankshares Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.