Hsbc Holdings PLC Makes New Investment in United Bankshares, Inc. $UBSI

Hsbc Holdings PLC acquired a new position in United Bankshares, Inc. (NASDAQ:UBSI) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 18,075 shares of the financial services provider’s stock, valued at approximately $696,000.

Several other hedge funds have also recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd purchased a new stake in United Bankshares in the third quarter worth $25,000. Eurizon Capital SGR S.p.A. purchased a new position in United Bankshares during the 4th quarter valued at $26,000. Farther Finance Advisors LLC increased its position in United Bankshares by 196.2% during the 4th quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 567 shares during the period. EverSource Wealth Advisors LLC raised its holdings in United Bankshares by 528.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 988 shares in the last quarter. Finally, Rothschild Investment LLC raised its holdings in United Bankshares by 47.5% in the 4th quarter. Rothschild Investment LLC now owns 1,236 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 398 shares in the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently 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 Saturday, June 13th. Weiss Ratings reissued a “buy (b)” rating on shares of United Bankshares in a research note on Monday, July 6th. Hovde Group initiated coverage on shares of United Bankshares in a report on Wednesday, June 24th. They issued a “market perform” rating and a $49.00 price objective for the company. Zacks Research lowered shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Finally, Raymond James Financial lifted 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. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $46.60.

United Bankshares Trading Up 1.1%

Shares of NASDAQ UBSI opened at $46.69 on Thursday. 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 firm has a 50-day moving average of $44.42 and a 200 day moving average of $42.80. The stock has a market cap of $6.43 billion, a P/E ratio of 13.08 and a beta of 0.71.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. United Bankshares had a net margin of 27.45% and a return on equity of 9.26%. The business had revenue of $316.58 million for the quarter, compared to analysts’ expectations of $315.15 million. During the same quarter in the prior year, the company earned $0.59 earnings per share. As a group, sell-side analysts expect that United Bankshares, Inc. will post 3.64 EPS for the current fiscal year.

United Bankshares Dividend Announcement

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

United Bankshares Company 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.