United Bankshares, Inc. (NASDAQ:UBSI) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 309,623 shares of the financial services provider’s stock after selling 3,258 shares during the quarter. Principal Financial Group Inc. owned 0.23% of United Bankshares worth $11,626,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of UBSI. Jane Street Group LLC raised its position in United Bankshares by 27.2% in the third quarter. Jane Street Group LLC now owns 161,489 shares of the financial services provider’s stock worth $5,991,000 after acquiring an additional 34,526 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of United Bankshares by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,673,056 shares of the financial services provider’s stock valued at $62,070,000 after purchasing an additional 83,503 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of United Bankshares by 73.1% in the third quarter. BNP Paribas Financial Markets now owns 50,953 shares of the financial services provider’s stock valued at $1,890,000 after purchasing an additional 21,520 shares during the period. Daiwa Securities Group Inc. boosted its holdings in United Bankshares by 3.6% during the third quarter. Daiwa Securities Group Inc. now owns 12,328 shares of the financial services provider’s stock worth $457,000 after buying an additional 427 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in United Bankshares by 9.8% during the third quarter. JPMorgan Chase & Co. now owns 594,819 shares of the financial services provider’s stock worth $22,068,000 after buying an additional 52,949 shares during the period. 70.80% of the stock is owned by institutional investors and hedge funds.

United Bankshares Price Performance

UBSI stock opened at $35.75 on Friday. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 13.05 and a beta of 1.02. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. United Bankshares, Inc. has a 52-week low of $30.68 and a 52-week high of $44.43. The stock’s fifty day simple moving average is $37.71 and its 200-day simple moving average is $38.34.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Friday, January 24th. The financial services provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. During the same quarter in the prior year, the company posted $0.59 earnings per share. Equities research analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.14%. United Bankshares’s payout ratio is 54.01%.

Insider Activity at United Bankshares

In other news, Director Mark R. Nesselroad sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $39.16, for a total value of $234,960.00. Following the transaction, the director now directly owns 35,424 shares in the company, valued at $1,387,203.84. This trade represents a 14.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

UBSI has been the topic of a number of research analyst reports. Stephens reiterated an “equal weight” rating and set a $43.00 target price on shares of United Bankshares in a research report on Monday, January 27th. StockNews.com cut shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods decreased their price objective on United Bankshares from $46.00 to $45.00 and set a “market perform” rating on the stock in a research note on Monday, January 27th.

About United Bankshares

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.