PNC Financial Services Group Inc. Sells 642 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

PNC Financial Services Group Inc. trimmed its position in shares of United Bankshares, Inc. (NASDAQ:UBSIFree Report) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,145 shares of the financial services provider’s stock after selling 642 shares during the quarter. PNC Financial Services Group Inc.’s holdings in United Bankshares were worth $1,320,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in UBSI. Vanguard Group Inc. boosted its stake in United Bankshares by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 14,131,592 shares of the financial services provider’s stock worth $389,891,000 after acquiring an additional 56,643 shares during the last quarter. Dimensional Fund Advisors LP increased its position in United Bankshares by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,291,001 shares of the financial services provider’s stock worth $273,782,000 after buying an additional 172,997 shares during the last quarter. Earnest Partners LLC grew its position in shares of United Bankshares by 4.8% in the third quarter. Earnest Partners LLC now owns 3,375,991 shares of the financial services provider’s stock valued at $93,144,000 after purchasing an additional 155,891 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of United Bankshares by 2,745.7% in the fourth quarter. Victory Capital Management Inc. now owns 2,835,545 shares of the financial services provider’s stock valued at $106,475,000 after purchasing an additional 2,735,901 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of United Bankshares by 1.8% in the third quarter. Northern Trust Corp now owns 1,638,500 shares of the financial services provider’s stock valued at $45,206,000 after purchasing an additional 28,641 shares during the last quarter. 70.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on UBSI shares. Keefe, Bruyette & Woods cut their price target on United Bankshares from $40.00 to $38.00 and set a “market perform” rating for the company in a research note on Friday, May 3rd. Stephens lowered their price target on shares of United Bankshares from $36.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $37.00.

Read Our Latest Report on United Bankshares

United Bankshares Stock Performance

NASDAQ UBSI opened at $32.13 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.36. The stock has a fifty day simple moving average of $33.93 and a 200 day simple moving average of $34.89. United Bankshares, Inc. has a twelve month low of $25.35 and a twelve month high of $38.74. The company has a market capitalization of $4.34 billion, a price-to-earnings ratio of 12.26 and a beta of 1.01.

United Bankshares (NASDAQ:UBSIGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The company had revenue of $401.39 million for the quarter, compared to the consensus estimate of $256.80 million. United Bankshares had a return on equity of 7.72% and a net margin of 22.51%. During the same period last year, the company earned $0.74 EPS. Sell-side analysts expect that United Bankshares, Inc. will post 2.62 EPS for the current year.

United Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.37 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.48 annualized dividend and a yield of 4.61%. United Bankshares’s payout ratio is 56.49%.

About United Bankshares

(Free Report)

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.

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Institutional Ownership by Quarter for United Bankshares (NASDAQ:UBSI)

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