First United (NASDAQ:FUNC) Cut to Hold at StockNews.com

StockNews.com cut shares of First United (NASDAQ:FUNC) from a buy rating to a hold rating in a research note published on Saturday morning.

Separately, Raymond James raised shares of First United from a “market perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a research note on Friday, February 7th.

First United Stock Up 1.1 %

Shares of First United stock opened at $30.02 on Friday. First United has a 12-month low of $19.17 and a 12-month high of $42.50. The firm has a market capitalization of $194.32 million, a PE ratio of 9.53 and a beta of 0.77. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.70. The stock’s fifty day moving average is $34.08 and its 200-day moving average is $33.22.

First United (NASDAQ:FUNC) last posted its quarterly earnings data on Wednesday, February 5th. The bank reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.09. First United had a return on equity of 12.51% and a net margin of 18.45%. Equities analysts anticipate that First United will post 3.75 earnings per share for the current year.

First United Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 17th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.88 dividend on an annualized basis and a yield of 2.93%. First United’s dividend payout ratio is currently 27.94%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Susquehanna International Group LLP boosted its holdings in First United by 565.9% in the fourth quarter. Susquehanna International Group LLP now owns 92,430 shares of the bank’s stock worth $3,116,000 after purchasing an additional 78,550 shares in the last quarter. Angel Oak Capital Advisors LLC bought a new stake in shares of First United during the 4th quarter worth about $934,000. Marshall Wace LLP increased its holdings in shares of First United by 218.9% during the 4th quarter. Marshall Wace LLP now owns 24,146 shares of the bank’s stock valued at $814,000 after acquiring an additional 16,574 shares during the last quarter. Millennium Management LLC boosted its position in First United by 102.5% during the fourth quarter. Millennium Management LLC now owns 31,246 shares of the bank’s stock worth $1,053,000 after purchasing an additional 15,815 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of First United in the fourth quarter valued at approximately $529,000. 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.