Hsbc Holdings PLC Sells 12,628 Shares of United Bankshares, Inc. $UBSI

Hsbc Holdings PLC trimmed its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 69.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,447 shares of the financial services provider’s stock after selling 12,628 shares during the period. Hsbc Holdings PLC’s holdings in United Bankshares were worth $226,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of UBSI. Caitong International Asset Management Co. Ltd bought a new stake in shares of United Bankshares during the 3rd quarter worth approximately $25,000. Eurizon Capital SGR S.p.A. bought a new position in United Bankshares in the fourth quarter valued at approximately $26,000. Root Financial Partners LLC increased its stake in United Bankshares by 64.4% in the first quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 308 shares during the last quarter. Farther Finance Advisors LLC raised its position in United Bankshares by 196.2% during the fourth 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 in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in United Bankshares by 528.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 988 shares in the last quarter. 70.80% of the stock is owned by institutional investors.

United Bankshares Stock Performance

NASDAQ UBSI opened at $48.91 on Tuesday. The firm’s fifty day moving average price is $45.78 and its two-hundred day moving average price is $43.60. The stock has a market cap of $6.74 billion, a PE ratio of 13.33 and a beta of 0.71. United Bankshares, Inc. has a fifty-two week low of $34.10 and a fifty-two week high of $49.27. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.06. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. The company had revenue of $323.82 million during the quarter, compared to the consensus estimate of $320.07 million. During the same period in the prior year, the business earned $0.85 earnings per share. On average, equities analysts expect that United Bankshares, Inc. will post 3.71 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Friday, June 12th. United Bankshares’s dividend payout ratio is presently 41.42%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on UBSI. Weiss Ratings reaffirmed a “buy (b)” rating on shares of United Bankshares in a report on Monday, July 6th. Raymond James Financial boosted their price target on United Bankshares from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Keefe, Bruyette & Woods upped their price objective on United Bankshares from $46.00 to $48.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Hovde Group raised their price objective on United Bankshares from $49.00 to $50.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Finally, Wall Street Zen upgraded United Bankshares from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $47.80.

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.