Principal Financial Group Inc. Has $11.61 Million Stake in United Bankshares, Inc. (NASDAQ:UBSI)

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

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Inspire Investing LLC boosted its stake in shares of United Bankshares by 2.7% in the 3rd quarter. Inspire Investing LLC now owns 11,095 shares of the financial services provider’s stock worth $412,000 after buying an additional 291 shares during the last quarter. HighTower Advisors LLC lifted its holdings in United Bankshares by 1.7% during the third quarter. HighTower Advisors LLC now owns 19,542 shares of the financial services provider’s stock worth $730,000 after acquiring an additional 332 shares during the period. Daiwa Securities Group Inc. boosted its position in United Bankshares by 3.6% in the third quarter. Daiwa Securities Group Inc. now owns 12,328 shares of the financial services provider’s stock worth $457,000 after purchasing an additional 427 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in United Bankshares by 4.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,367 shares of the financial services provider’s stock valued at $401,000 after purchasing an additional 479 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of United Bankshares by 34.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,079 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 534 shares during the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at United Bankshares

In other news, Director J Paul Mcnamara sold 2,500 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.86, for a total value of $107,150.00. Following the transaction, the director now owns 63,409 shares of the company’s stock, valued at $2,717,709.74. This represents a 3.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peter A. Converse sold 5,000 shares of United Bankshares 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 sale, the director now directly owns 434,769 shares of the company’s stock, valued at approximately $17,390,760. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,500 shares of company stock valued at $542,110. 3.66% of the stock is currently owned by corporate insiders.

United Bankshares Price Performance

Shares of NASDAQ UBSI opened at $37.87 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $40.21 and a two-hundred day simple moving average of $37.36. United Bankshares, Inc. has a 1-year low of $30.68 and a 1-year high of $44.43. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 14.34 and a beta of 1.01.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.03. United Bankshares had a return on equity of 7.58% and a net margin of 22.05%. The company had revenue of $414.67 million during the quarter, compared to the consensus estimate of $260.30 million. During the same quarter in the prior year, the company earned $0.71 EPS. Analysts anticipate that United Bankshares, Inc. will post 2.73 earnings per share for the current year.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.48 dividend on an annualized basis and a yield of 3.91%. United Bankshares’s dividend payout ratio (DPR) is 56.06%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of United Bankshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $40.25.

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.