PNC Financial Services Group Inc. cut its position in shares of United Bankshares, Inc. (NASDAQ:UBSI – Free Report) by 42.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,787 shares of the financial services provider’s stock after selling 26,770 shares during the period. PNC Financial Services Group Inc.’s holdings in United Bankshares were worth $987,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Rhumbline Advisers raised its position in shares of United Bankshares by 0.7% in the 3rd quarter. Rhumbline Advisers now owns 469,237 shares of the financial services provider’s stock worth $12,946,000 after acquiring an additional 3,453 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of United Bankshares by 226.7% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 560,221 shares of the financial services provider’s stock worth $15,457,000 after buying an additional 388,730 shares during the last quarter. IFP Advisors Inc raised its holdings in United Bankshares by 13,671.2% in the 2nd quarter. IFP Advisors Inc now owns 10,053 shares of the financial services provider’s stock worth $372,000 after purchasing an additional 9,980 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of United Bankshares by 7.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 65,057 shares of the financial services provider’s stock valued at $1,930,000 after acquiring an additional 4,582 shares during the last quarter. Finally, Earnest Partners LLC raised its holdings in shares of United Bankshares by 2.7% during the second quarter. Earnest Partners LLC now owns 3,220,100 shares of the financial services provider’s stock valued at $95,540,000 after acquiring an additional 85,887 shares during the last quarter. 71.63% of the stock is owned by institutional investors.
Analyst Ratings Changes
Separately, Raymond James increased their target price on United Bankshares from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, January 5th. 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 MarketBeat.com, United Bankshares currently has a consensus rating of “Hold” and an average price target of $36.00.
Get Our Latest Research Report on UBSI
United Bankshares Trading Up 0.2 %
UBSI opened at $34.42 on Monday. United Bankshares, Inc. has a 52 week low of $25.35 and a 52 week high of $41.40. The business has a fifty day simple moving average of $36.37 and a 200-day simple moving average of $32.33. The firm has a market cap of $4.64 billion, a P/E ratio of 12.70 and a beta of 1.03. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37.
United Bankshares (NASDAQ:UBSI – Get Free Report) last released its earnings results on Friday, January 26th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. United Bankshares had a return on equity of 8.05% and a net margin of 23.84%. The firm had revenue of $402.85 million during the quarter, compared to analyst estimates of $258.98 million. During the same period last year, the business posted $0.74 earnings per share. On average, equities analysts expect that United Bankshares, Inc. will post 2.64 earnings per share for the current year.
About United Bankshares
United Bankshares, Inc, a financial holding company, 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, NOW accounts, and interest-bearing checking accounts.
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