Connor Clark & Lunn Investment Management Ltd. Sells 19,049 Shares of United Bankshares, Inc. $UBSI

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 15.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 100,535 shares of the financial services provider's stock after selling 19,049 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.07% of United Bankshares worth $3,486,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of UBSI. Farther Finance Advisors LLC grew its stake in shares of United Bankshares by 726.5% in the first quarter. Farther Finance Advisors LLC now owns 967 shares of the financial services provider's stock worth $33,000 after purchasing an additional 850 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in United Bankshares by 144.2% during the first quarter. Meeder Asset Management Inc. now owns 1,155 shares of the financial services provider's stock valued at $40,000 after buying an additional 682 shares in the last quarter. CWM LLC boosted its stake in United Bankshares by 226.9% during the first quarter. CWM LLC now owns 1,651 shares of the financial services provider's stock valued at $57,000 after buying an additional 1,146 shares in the last quarter. Fifth Third Bancorp boosted its stake in United Bankshares by 44.4% during the first quarter. Fifth Third Bancorp now owns 1,699 shares of the financial services provider's stock valued at $59,000 after buying an additional 522 shares in the last quarter. Finally, Hughes Financial Services LLC bought a new position in United Bankshares during the first quarter valued at about $60,000. Institutional investors own 70.80% of the company's stock.

United Bankshares Stock Up 0.4%

Shares of NASDAQ UBSI traded up $0.15 during mid-day trading on Monday, reaching $37.04. 137,676 shares of the company's stock were exchanged, compared to its average volume of 787,683. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 13.09 and a beta of 0.79. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $36.58 and a 200 day simple moving average of $35.81. United Bankshares, Inc. has a twelve month low of $30.50 and a twelve month high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.08. The business had revenue of $306.00 million during the quarter, compared to the consensus estimate of $297.98 million. United Bankshares had a return on equity of 7.65% and a net margin of 23.14%. During the same period last year, the company earned $0.71 earnings per share. As a group, equities analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on UBSI shares. Keefe, Bruyette & Woods reduced their target price on United Bankshares from $42.00 to $40.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Zacks Research raised United Bankshares to a "hold" rating in a research note on Friday, August 8th. Finally, Wall Street Zen cut United Bankshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, United Bankshares presently has a consensus rating of "Hold" and a consensus price target of $40.50.

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.