PNC Financial Services Group Inc. Sells 1,099 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

PNC Financial Services Group Inc. decreased its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,050 shares of the financial services provider’s stock after selling 1,099 shares during the quarter. PNC Financial Services Group Inc.’s holdings in United Bankshares were worth $1,354,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of UBSI. Raymond James Financial Inc. bought a new position in United Bankshares during the fourth quarter valued at approximately $14,948,000. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of United Bankshares by 16.7% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,558,081 shares of the financial services provider’s stock valued at $57,805,000 after buying an additional 223,150 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of United Bankshares in the 4th quarter worth $7,383,000. Point72 Asset Management L.P. bought a new stake in shares of United Bankshares in the third quarter worth $6,186,000. Finally, Barclays PLC increased its position in United Bankshares by 89.5% during the third quarter. Barclays PLC now owns 269,852 shares of the financial services provider’s stock valued at $10,012,000 after acquiring an additional 127,486 shares during the last quarter. Institutional investors own 70.80% of the company’s stock.

Insiders Place Their Bets

In related news, Director Mark R. Nesselroad sold 6,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $39.16, for a total transaction of $234,960.00. Following the completion of the transaction, the director now owns 35,424 shares in the company, valued at approximately $1,387,203.84. This represents a 14.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on UBSI shares. Stephens restated an “equal weight” rating and set a $43.00 price target on shares of United Bankshares in a research note on Monday, January 27th. Keefe, Bruyette & Woods cut their target price on shares of United Bankshares from $46.00 to $45.00 and set a “market perform” rating for the company in a research report on Monday, January 27th. StockNews.com downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Monday, January 27th. Finally, Piper Sandler reissued a “neutral” rating and set a $38.50 price objective on shares of United Bankshares in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $41.88.

United Bankshares Price Performance

Shares of NASDAQ:UBSI opened at $34.56 on Friday. The firm’s 50 day simple moving average is $37.08 and its two-hundred day simple moving average is $38.22. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $4.95 billion, a P/E ratio of 12.61 and a beta of 0.98. United Bankshares, Inc. has a 1-year low of $30.68 and a 1-year high of $44.43.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the company posted $0.59 earnings per share. Research analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.37 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 4.28%. United Bankshares’s dividend payout ratio is presently 54.01%.

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.