First United (NASDAQ:FUNC) Share Price Passes Above 200-Day Moving Average – What’s Next?

Shares of First United Co. (NASDAQ:FUNC) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $28.01 and traded as high as $36.14. First United shares last traded at $35.56, with a volume of 17,800 shares.

Analyst Ratings Changes

Separately, StockNews.com upgraded First United from a “hold” rating to a “buy” rating in a research report on Monday, October 7th.

First United Stock Down 0.3 %

The business has a fifty day simple moving average of $33.36 and a 200 day simple moving average of $28.01. The firm has a market cap of $230.07 million, a price-to-earnings ratio of 14.46 and a beta of 0.80. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.94 and a quick ratio of 0.94.

First United (NASDAQ:FUNC) last posted its quarterly earnings results on Monday, October 21st. The bank reported $0.89 EPS for the quarter, beating the consensus estimate of $0.79 by $0.10. First United had a return on equity of 12.20% and a net margin of 14.70%. The firm had revenue of $28.17 million during the quarter, compared to analysts’ expectations of $20.30 million. As a group, equities analysts forecast that First United Co. will post 3.11 EPS for the current fiscal year.

First United Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 17th will be issued a $0.22 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.88 annualized dividend and a dividend yield of 2.47%. First United’s dividend payout ratio is presently 35.77%.

Institutional Investors Weigh In On First United

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC boosted its position in shares of First United by 5.4% during the third quarter. Empowered Funds LLC now owns 23,713 shares of the bank’s stock worth $708,000 after buying an additional 1,206 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of First United during the third quarter worth $97,000. Barclays PLC purchased a new position in shares of First United during the third quarter worth $126,000. American Century Companies Inc. boosted its position in shares of First United by 13.2% during the second quarter. American Century Companies Inc. now owns 39,947 shares of the bank’s stock worth $816,000 after buying an additional 4,645 shares during the period. Finally, Huber Capital Management LLC boosted its position in shares of First United by 4.2% during the second quarter. Huber Capital Management LLC now owns 124,556 shares of the bank’s stock worth $2,543,000 after buying an additional 5,000 shares during the period. Institutional investors and hedge funds own 33.27% of the company’s stock.

About First United

First United Corporation operates as the bank holding company for First United Bank & Trust that provides various retail and commercial banking services to businesses and individuals. It offers various deposit products, which includes checking, savings, money market deposit, and regular and individual retirement accounts (IRAs), as well as certificates of deposit.