Connor Clark & Lunn Investment Management Ltd. Has $12.81 Million Position in United Bankshares, Inc. (NASDAQ:UBSI)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 7.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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. owned about 0.26% of United Bankshares worth $12,806,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. increased its stake in shares of United Bankshares by 237.6% during the third quarter. UMB Bank n.a. now owns 844 shares of the financial services provider's stock worth $31,000 after purchasing an additional 594 shares during the period. GAMMA Investing LLC boosted its stake in shares of United Bankshares by 253.5% in the second quarter. GAMMA Investing LLC now owns 1,545 shares of the financial services provider's stock valued at $50,000 after buying an additional 1,108 shares during the period. New Covenant Trust Company N.A. acquired a new stake in United Bankshares during the first quarter worth approximately $79,000. Innealta Capital LLC bought a new position in United Bankshares during the 2nd quarter worth $116,000. Finally, Marathon Strategic Advisors LLC acquired a new position in United Bankshares in the 3rd quarter valued at $206,000. 70.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. 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. DA Davidson upped their price target on shares of United Bankshares from $36.00 to $41.00 and gave the stock a "neutral" rating in a report on Friday, July 26th. Stephens lifted their price objective on shares of United Bankshares from $36.00 to $39.00 and gave the company an "equal weight" rating in a research note on Friday, July 26th. Finally, StockNews.com upgraded shares of United Bankshares from a "sell" rating to a "hold" rating in a research report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $40.25.

Insider Activity

In related news, Director Peter A. Converse sold 5,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director now owns 434,769 shares in the company, valued at $17,390,760. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.66% of the company's stock.

United Bankshares Price Performance

Shares of UBSI traded up $0.92 during mid-day trading on Friday, reaching $42.66. The company had a trading volume of 216,312 shares, compared to its average volume of 523,637. The company has a market capitalization of $5.77 billion, a price-to-earnings ratio of 15.81 and a beta of 0.98. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.97. The company's 50 day simple moving average is $38.34 and its 200 day simple moving average is $35.97. United Bankshares, Inc. has a 1-year low of $30.68 and a 1-year high of $43.77.

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

United Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.48 annualized dividend and a yield of 3.47%. United Bankshares's dividend 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.