Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 65.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,584 shares of the financial services provider's stock after selling 225,578 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.09% of United Bankshares worth $4,490,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of UBSI. Geode Capital Management LLC grew its stake in United Bankshares by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,306,542 shares of the financial services provider's stock worth $122,695,000 after acquiring an additional 53,994 shares during the period. Charles Schwab Investment Management Inc. grew its stake in United Bankshares by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,710,588 shares of the financial services provider's stock worth $64,233,000 after acquiring an additional 37,532 shares during the period. Vaughan Nelson Investment Management L.P. grew its stake in United Bankshares by 3.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,612,170 shares of the financial services provider's stock worth $60,538,000 after acquiring an additional 54,089 shares during the period. Fisher Asset Management LLC grew its stake in United Bankshares by 1.4% in the 3rd quarter. Fisher Asset Management LLC now owns 1,221,493 shares of the financial services provider's stock worth $45,317,000 after acquiring an additional 16,782 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in United Bankshares by 9.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 594,819 shares of the financial services provider's stock worth $22,068,000 after acquiring an additional 52,949 shares during the period. 70.80% of the stock is owned by hedge funds and other institutional investors.
United Bankshares Stock Down 1.3 %
Shares of NASDAQ UBSI traded down $0.46 during midday trading on Thursday, reaching $34.71. 695,152 shares of the company's stock were exchanged, compared to its average volume of 696,363. The stock has a market capitalization of $4.97 billion, a PE ratio of 12.67 and a beta of 0.98. United Bankshares, Inc. has a 52-week low of $30.68 and a 52-week high of $44.43. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. The business's fifty day moving average price is $36.96 and its two-hundred day moving average price is $38.14.
United Bankshares (NASDAQ:UBSI - Get Free Report) last announced its earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.01. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. During the same period last year, the business posted $0.59 EPS. Analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current year.
United Bankshares Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend is Friday, March 14th. United Bankshares's payout ratio is currently 54.01%.
Analyst Ratings Changes
Several analysts have commented on the stock. Piper Sandler reaffirmed a "neutral" rating and issued a $38.50 target price on shares of United Bankshares in a research note on Wednesday, March 12th. Keefe, Bruyette & Woods cut their target price on United Bankshares from $46.00 to $45.00 and set a "market perform" rating on the stock in a research report on Monday, January 27th. Stephens reissued an "equal weight" rating and set a $43.00 price target on shares of United Bankshares in a research report on Monday, January 27th. Finally, StockNews.com lowered shares of United Bankshares from a "hold" rating to a "sell" rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, United Bankshares presently has an average rating of "Hold" and a consensus price target of $41.88.
Read Our Latest Research Report on UBSI
United Bankshares Company Profile
(
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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