AQR Capital Management LLC Has $9.66 Million Holdings 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 grew its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 45.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 280,921 shares of the financial services provider's stock after buying an additional 87,213 shares during the quarter. AQR Capital Management LLC owned 0.20% of United Bankshares worth $9,661,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in UBSI. Farther Finance Advisors LLC lifted its stake in shares of United Bankshares by 726.5% during 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. grew its position in United Bankshares by 144.2% in the 1st quarter. Meeder Asset Management Inc. now owns 1,155 shares of the financial services provider's stock worth $40,000 after purchasing an additional 682 shares during the last quarter. CWM LLC increased its position in United Bankshares by 226.9% in the 1st quarter. CWM LLC now owns 1,651 shares of the financial services provider's stock valued at $57,000 after acquiring an additional 1,146 shares during the period. Fifth Third Bancorp increased its holdings in shares of 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 purchasing an additional 522 shares during the period. Finally, Hughes Financial Services LLC bought a new stake in shares of United Bankshares during the 1st quarter worth about $60,000. Hedge funds and other institutional investors own 70.80% of the company's stock.

Analysts Set New Price Targets

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

United Bankshares Stock Down 0.8%

Shares of United Bankshares stock traded down $0.31 during midday trading on Tuesday, reaching $36.84. 696,548 shares of the company's stock traded hands, compared to its average volume of 478,208. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. United Bankshares, Inc. has a 52 week low of $30.50 and a 52 week high of $44.43. The company's 50 day simple moving average is $37.22 and its 200 day simple moving average is $35.88. The company has a market cap of $5.22 billion, a price-to-earnings ratio of 13.02 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 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.08. The business had revenue of $306.00 million for the quarter, compared to analyst estimates of $297.98 million. United Bankshares had a return on equity of 7.65% and a net margin of 23.14%.During the same quarter in the prior year, the firm posted $0.71 EPS. Equities analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, September 12th. United Bankshares's dividend payout ratio (DPR) is currently 52.30%.

United Bankshares Company 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.