PNC Financial Services Group Inc. Has $1.38 Million Stock Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

PNC Financial Services Group Inc. boosted its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 4.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,149 shares of the financial services provider’s stock after acquiring an additional 1,744 shares during the period. PNC Financial Services Group Inc.’s holdings in United Bankshares were worth $1,378,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in United Bankshares by 218.2% in the 2nd quarter. SG Americas Securities LLC now owns 29,676 shares of the financial services provider’s stock valued at $963,000 after buying an additional 20,350 shares during the period. RIA Advisory Group LLC bought a new stake in United Bankshares in the third quarter valued at about $495,000. Earnest Partners LLC increased its stake in United Bankshares by 1.8% in the second quarter. Earnest Partners LLC now owns 4,253,797 shares of the financial services provider’s stock valued at $137,993,000 after acquiring an additional 74,638 shares during the period. Natixis Advisors LLC raised its position in United Bankshares by 21.0% in the third quarter. Natixis Advisors LLC now owns 336,029 shares of the financial services provider’s stock worth $12,466,000 after purchasing an additional 58,274 shares in the last quarter. Finally, Atria Investments Inc bought a new position in United Bankshares during the first quarter worth about $1,072,000. Institutional investors and hedge funds own 70.80% of the company’s stock.

Insider Activity

In other United Bankshares news, Director Peter A. Converse sold 5,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $40.00, for a total transaction of $200,000.00. Following the sale, the director now owns 434,769 shares of the company’s stock, valued at $17,390,760. This represents a 1.14 % decrease in their position. 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.

Wall Street Analyst Weigh In

Separately, StockNews.com raised United Bankshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, United Bankshares presently has an average rating of “Hold” and an average target price of $40.25.

United Bankshares Trading Down 1.0 %

Shares of UBSI stock opened at $42.87 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $5.80 billion, a P/E ratio of 16.24 and a beta of 0.98. United Bankshares, Inc. has a 12-month low of $30.68 and a 12-month high of $44.43. The firm has a 50-day moving average price of $38.57 and a 200 day moving average price of $36.13.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.67 by $0.03. United Bankshares had a return on equity of 7.58% and a net margin of 22.05%. The business had revenue of $414.67 million for the quarter, compared to the consensus estimate of $260.30 million. During the same period in the previous year, the business earned $0.71 EPS. Research analysts forecast that United Bankshares, Inc. will post 2.73 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Friday, December 13th. United Bankshares’s payout ratio is presently 56.06%.

United Bankshares Company 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.