Principal Financial Group Inc. Has $14.67 Million Stake in United Bankshares, Inc. (NASDAQ:UBSI)

Principal Financial Group Inc. reduced its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 11.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 452,062 shares of the financial services provider’s stock after selling 58,506 shares during the quarter. Principal Financial Group Inc. owned about 0.33% of United Bankshares worth $14,665,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its position in shares of United Bankshares by 4.8% during the 4th quarter. Russell Investments Group Ltd. now owns 44,825 shares of the financial services provider’s stock worth $1,683,000 after buying an additional 2,059 shares during the last quarter. Natixis Advisors L.P. lifted its holdings in shares of United Bankshares by 66.2% in the fourth quarter. Natixis Advisors L.P. now owns 199,537 shares of the financial services provider’s stock valued at $7,492,000 after purchasing an additional 79,488 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in United Bankshares during the 4th quarter worth $440,000. Lincoln National Corp increased its stake in United Bankshares by 8.1% in the 4th quarter. Lincoln National Corp now owns 11,184 shares of the financial services provider’s stock valued at $420,000 after buying an additional 837 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of United Bankshares by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,486,804 shares of the financial services provider’s stock valued at $55,829,000 after acquiring an additional 60,465 shares during the last quarter. 70.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on UBSI shares. Keefe, Bruyette & Woods lifted their price target on shares of United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Stephens upped their price objective on shares of United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. StockNews.com upgraded United Bankshares from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Finally, DA Davidson boosted their price objective on shares of United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a report 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $40.25.

United Bankshares Price Performance

Shares of NASDAQ:UBSI opened at $37.38 on Friday. United Bankshares, Inc. has a fifty-two week low of $25.35 and a fifty-two week high of $39.93. The business has a 50-day simple moving average of $36.17 and a two-hundred day simple moving average of $34.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.99 and a current ratio of 1.00. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of 14.27 and a beta of 0.99.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.64 by $0.07. The firm had revenue of $255.94 million during the quarter, compared to analyst estimates of $255.54 million. United Bankshares had a net margin of 22.44% and a return on equity of 7.72%. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 EPS. On average, analysts expect that United Bankshares, Inc. will post 2.7 earnings per share for the current year.

United Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.37 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.48 annualized dividend and a yield of 3.96%. United Bankshares’s payout ratio is 56.49%.

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.