Principal Financial Group Inc. Sells 139,181 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Principal Financial Group Inc. trimmed its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 30.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 312,881 shares of the financial services provider’s stock after selling 139,181 shares during the quarter. Principal Financial Group Inc. owned 0.23% of United Bankshares worth $11,608,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. UMB Bank n.a. grew its holdings in United Bankshares by 237.6% during the 3rd quarter. UMB Bank n.a. now owns 844 shares of the financial services provider’s stock valued at $31,000 after buying an additional 594 shares in the last quarter. GAMMA Investing LLC grew its stake in United Bankshares by 253.5% during the second quarter. GAMMA Investing LLC now owns 1,545 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 1,108 shares in the last quarter. New Covenant Trust Company N.A. bought a new stake in United Bankshares during the 1st quarter worth approximately $79,000. Innealta Capital LLC purchased a new stake in United Bankshares in the 2nd quarter worth approximately $116,000. Finally, Marathon Strategic Advisors LLC bought a new position in United Bankshares in the 3rd quarter valued at $206,000. Hedge funds and other institutional investors own 70.80% of the company’s stock.

United Bankshares Trading Down 0.2 %

NASDAQ UBSI opened at $42.22 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The stock’s 50-day simple moving average is $37.92 and its two-hundred day simple moving average is $35.78. United Bankshares, Inc. has a twelve month low of $30.68 and a twelve month high of $43.77. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 15.99 and a beta of 0.98.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. The company had revenue of $414.67 million for the quarter, compared to analysts’ expectations of $260.30 million. United Bankshares had a return on equity of 7.58% and a net margin of 22.05%. During the same period last year, the firm posted $0.71 EPS. Research analysts forecast that United Bankshares, Inc. will post 2.73 EPS for the current fiscal year.

United Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.51%. United Bankshares’s payout ratio is 56.06%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Stephens upped their price target on shares of United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods raised their price target on United Bankshares from $38.00 to $40.00 and gave the company a “market perform” rating in a report on Friday, July 26th. StockNews.com raised United Bankshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Finally, DA Davidson raised their target price on shares of United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, United Bankshares has an average rating of “Hold” and an average target price of $40.25.

Insider Activity

In other news, Director Peter A. Converse sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $40.00, for a total value of $200,000.00. Following the completion of the sale, the director now owns 434,769 shares of the company’s stock, valued at approximately $17,390,760. The trade was a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.66% of the stock is owned by corporate insiders.

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.