Connor Clark & Lunn Investment Management Ltd. Decreases Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Connor Clark & Lunn Investment Management Ltd. lessened its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 7.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 0.26% of United Bankshares worth $12,806,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in United Bankshares by 1.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,907,665 shares of the financial services provider’s stock valued at $256,521,000 after purchasing an additional 142,545 shares in the last quarter. Earnest Partners LLC boosted its position in shares of United Bankshares by 1.8% during the second quarter. Earnest Partners LLC now owns 4,253,797 shares of the financial services provider’s stock worth $137,993,000 after acquiring an additional 74,638 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of United Bankshares by 0.4% during the 3rd quarter. Victory Capital Management Inc. now owns 3,997,311 shares of the financial services provider’s stock valued at $148,300,000 after purchasing an additional 14,833 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of United Bankshares by 110.4% in the second quarter. ProShare Advisors LLC now owns 2,206,434 shares of the financial services provider’s stock worth $71,577,000 after purchasing an additional 1,157,579 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in United Bankshares by 16.7% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,558,081 shares of the financial services provider’s stock valued at $57,805,000 after buying an additional 223,150 shares during the last quarter. 70.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, Director Peter A. Converse sold 5,000 shares of the 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 directly owns 434,769 shares of the company’s stock, valued at $17,390,760. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.66% of the company’s stock.

United Bankshares Stock Up 0.8 %

Shares of United Bankshares stock 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 price-to-earnings ratio of 15.81 and a beta of 0.98. The firm’s 50-day moving average is $38.34 and its two-hundred day moving average is $35.97.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the firm posted $0.71 earnings per share. As a group, research analysts expect that United Bankshares, Inc. will post 2.73 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.55%. The ex-dividend date is Friday, December 13th. United Bankshares’s dividend payout ratio is currently 56.06%.

About United Bankshares

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.