United Bankshares, Inc. (NASDAQ:UBSI) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 7.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 345,162 shares of the financial services provider’s stock after selling 28,883 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in United Bankshares were worth $12,806,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. raised its stake in United Bankshares by 237.6% in the 3rd quarter. UMB Bank n.a. now owns 844 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 594 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of United Bankshares by 253.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,545 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 1,108 shares during the last quarter. New Covenant Trust Company N.A. acquired a new stake in shares of United Bankshares in the first quarter valued at approximately $79,000. Innealta Capital LLC purchased a new position in United Bankshares during the second quarter worth approximately $116,000. Finally, Marathon Strategic Advisors LLC acquired a new position in United Bankshares during the third quarter worth $206,000. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Insider Activity

In related news, Director Peter A. Converse sold 5,000 shares of United Bankshares stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $40.00, for a total value of $200,000.00. Following the transaction, the director now directly owns 434,769 shares in the company, valued at $17,390,760. This trade represents a 1.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on UBSI shares. DA Davidson raised their target price on United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. StockNews.com upgraded United Bankshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Stephens increased their target price on shares of United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods raised their price target on United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $40.25.

United Bankshares Stock Up 0.8 %

Shares of NASDAQ:UBSI opened at $41.74 on Friday. United Bankshares, Inc. has a 1-year low of $30.68 and a 1-year high of $43.77. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.96. The stock has a market cap of $5.64 billion, a P/E ratio of 15.81 and a beta of 0.98. The firm has a fifty day moving average price of $38.34 and a 200 day moving average price of $35.97.

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

United Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a $0.37 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.48 annualized dividend and a dividend yield of 3.55%. United Bankshares’s dividend payout ratio (DPR) is currently 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.