Principal Financial Group Inc. Has $11.45 Million Stock Position in United Bankshares, Inc. (NASDAQ:UBSI)

Principal Financial Group Inc. lifted its holdings in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 6.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,223 shares of the financial services provider's stock after acquiring an additional 20,600 shares during the quarter. Principal Financial Group Inc. owned approximately 0.23% of United Bankshares worth $11,449,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of United Bankshares by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,310,562 shares of the financial services provider's stock worth $537,362,000 after acquiring an additional 115,681 shares during the last quarter. Earnest Partners LLC raised its position in United Bankshares by 0.7% in the 4th quarter. Earnest Partners LLC now owns 4,199,136 shares of the financial services provider's stock worth $157,678,000 after purchasing an additional 29,898 shares during the last quarter. Northern Trust Corp lifted its holdings in United Bankshares by 13.7% during the 4th quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider's stock worth $66,614,000 after buying an additional 213,441 shares in the last quarter. Norges Bank bought a new position in United Bankshares in the 4th quarter valued at $54,712,000. Finally, ProShare Advisors LLC boosted its position in United Bankshares by 3.9% in the 4th quarter. ProShare Advisors LLC now owns 1,123,987 shares of the financial services provider's stock valued at $42,206,000 after buying an additional 41,819 shares during the last quarter. 70.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

UBSI has been the topic of several research reports. Keefe, Bruyette & Woods cut their price target on United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Wall Street Zen cut United Bankshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. According to data from MarketBeat, United Bankshares has a consensus rating of "Hold" and a consensus target price of $40.63.

United Bankshares Trading Down 1.1%

Shares of UBSI stock traded down $0.41 during trading hours on Tuesday, reaching $37.54. The company had a trading volume of 80,499 shares, compared to its average volume of 666,467. United Bankshares, Inc. has a 1-year low of $30.51 and a 1-year high of $44.43. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 13.97 and a beta of 0.76. The company has a 50 day moving average of $36.45 and a 200 day moving average of $36.02.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.07). United Bankshares had a net margin of 22.35% and a return on equity of 7.36%. The company had revenue of $289.61 million during the quarter, compared to analyst estimates of $279.02 million. During the same period in the previous year, the company posted $0.64 EPS. The company's quarterly revenue was up 13.7% compared to the same quarter last year. On average, equities research analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a $0.37 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.94%. United Bankshares's dividend payout ratio is 55.02%.

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.