United Bankshares, Inc. (NASDAQ:UBSI) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC lifted its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 13.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 193,708 shares of the financial services provider’s stock after acquiring an additional 22,308 shares during the quarter. AQR Capital Management LLC owned 0.14% of United Bankshares worth $7,274,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of United Bankshares in the 4th quarter valued at about $26,000. Jones Financial Companies Lllp grew its stake in shares of 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 purchasing an additional 310 shares during the period. Wilmington Savings Fund Society FSB boosted its holdings in United Bankshares by 1,921.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider’s stock worth $54,000 after buying an additional 1,364 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in United Bankshares by 37.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider’s stock valued at $56,000 after buying an additional 400 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of United Bankshares in the fourth quarter worth about $85,000. 70.80% of the stock is owned by hedge funds and other institutional investors.

United Bankshares Trading Up 0.2 %

Shares of United Bankshares stock opened at $35.03 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The stock’s 50 day simple moving average is $34.06 and its 200-day simple moving average is $37.28. The stock has a market cap of $5.03 billion, a P/E ratio of 12.78 and a beta of 0.74. United Bankshares, Inc. has a 1-year low of $30.51 and a 1-year high of $44.43.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.59 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.07). United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. The company had revenue of $289.61 million for the quarter, compared to analysts’ expectations of $279.02 million. During the same quarter in the prior year, the firm earned $0.64 EPS. The firm’s revenue was up 13.7% on a year-over-year basis. Analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date was Friday, March 14th. United Bankshares’s payout ratio is 55.02%.

Insider Activity at United Bankshares

In other news, Director Sara Dumond purchased 2,600 shares of the stock in a transaction dated Monday, March 24th. The stock was acquired at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the completion of the transaction, the director now directly owns 5,054 shares in the company, valued at approximately $176,940.54. This represents a 105.95 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 3.46% of the stock is owned by insiders.

Analyst Ratings Changes

UBSI has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reduced their price target 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. Stephens reissued an “equal weight” rating and issued a $43.00 price target on shares of United Bankshares in a report on Monday, January 27th. StockNews.com lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Monday, January 27th. Finally, Piper Sandler reiterated a “neutral” rating and set a $38.50 price objective on shares of United Bankshares in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $40.63.

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.