AQR Capital Management LLC Grows Stock Position in United Bankshares, Inc. $UBSI

Key Points

• AQR Capital Management LLC increased its stake in United Bankshares, Inc. by 45% in Q1, owning 280,921 shares valued at approximately $9.66 million.
• The company announced a quarterly dividend of $0.37 per share, with a yield of 3.9% and an upcoming payment date on October 1st.
• United Bankshares has a current average analyst rating of "Hold" with a consensus price target of $40.50.

AQR Capital Management LLC lifted its stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 45.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 280,921 shares of the financial services provider's stock after purchasing an additional 87,213 shares during the quarter. AQR Capital Management LLC owned about 0.20% of United Bankshares worth $9,661,000 at the end of the most recent reporting period.

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

United Bankshares Trading Down 1.7%

Shares of NASDAQ UBSI traded down $0.66 during trading on Friday, reaching $37.43. The stock had a trading volume of 322,803 shares, compared to its average volume of 485,920. United Bankshares, Inc. has a fifty-two week low of $30.50 and a fifty-two week high of $44.43. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. The business's 50-day moving average price is $37.26 and its 200-day moving average price is $35.87. The company has a market cap of $5.30 billion, a P/E ratio of 13.23 and a beta of 0.82.

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

United Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.0%. United Bankshares's payout ratio is presently 52.30%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Zacks Research raised United Bankshares to a "hold" rating in a report on Friday, August 8th. Wall Street Zen cut United Bankshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, United Bankshares presently has a consensus rating of "Hold" and a consensus price target of $40.50.

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.