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

Connor Clark & Lunn Investment Management Ltd. lessened its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 65.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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.’s holdings in United Bankshares were worth $4,490,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in United Bankshares in the 4th quarter worth about $26,000. Jones Financial Companies Lllp grew its holdings in United Bankshares by 55.8% during the 4th quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in United Bankshares by 1,921.1% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 1,364 shares in the last quarter. Principal Securities Inc. grew its holdings in United Bankshares by 10.1% during the 4th quarter. Principal Securities Inc. now owns 3,115 shares of the financial services provider’s stock worth $117,000 after acquiring an additional 285 shares in the last quarter. Finally, Hopwood Financial Services Inc. bought a new position in United Bankshares during the 4th quarter worth about $117,000. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Wall Street Analyst Weigh In

UBSI has been the topic of several recent research reports. StockNews.com cut shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Monday, January 27th. Piper Sandler reiterated a “neutral” rating and set a $38.50 target price on shares of United Bankshares in a report on Wednesday, March 12th. Keefe, Bruyette & Woods dropped their target price on shares of United Bankshares from $46.00 to $45.00 and set a “market perform” rating on the stock in a report on Monday, January 27th. Finally, Stephens reiterated an “equal weight” rating and set a $43.00 target price on shares of United Bankshares in a report on Monday, January 27th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $41.88.

United Bankshares Stock Up 1.6 %

NASDAQ:UBSI opened at $34.56 on Monday. United Bankshares, Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $44.43. The stock has a market capitalization of $4.95 billion, a P/E ratio of 12.61 and a beta of 0.98. 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 company’s 50-day simple moving average is $37.08 and its 200-day simple moving average is $38.22.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. During the same period in the previous year, the company posted $0.59 EPS. On average, equities analysts anticipate that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date is Friday, March 14th. United Bankshares’s dividend payout ratio (DPR) is presently 54.01%.

Insider Buying and Selling

In related news, Director Mark R. Nesselroad sold 6,000 shares of United Bankshares stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $39.16, for a total value of $234,960.00. Following the completion of the sale, the director now directly owns 35,424 shares in the company, valued at $1,387,203.84. This trade represents a 14.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.66% of the stock is owned by company insiders.

United Bankshares 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.