Angel Oak Capital Advisors LLC Invests $934,000 in First United Co. (NASDAQ:FUNC)

Angel Oak Capital Advisors LLC acquired a new position in shares of First United Co. (NASDAQ:FUNC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 27,700 shares of the bank's stock, valued at approximately $934,000. First United accounts for approximately 1.2% of Angel Oak Capital Advisors LLC's investment portfolio, making the stock its 15th largest position. Angel Oak Capital Advisors LLC owned approximately 0.43% of First United at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of First United during the 3rd quarter worth approximately $97,000. Barclays PLC purchased a new position in shares of First United during the 3rd quarter worth approximately $126,000. Ritholtz Wealth Management boosted its position in shares of First United by 34.9% during the 4th quarter. Ritholtz Wealth Management now owns 20,786 shares of the bank's stock worth $701,000 after purchasing an additional 5,374 shares during the period. Empowered Funds LLC boosted its position in shares of First United by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 23,713 shares of the bank's stock worth $708,000 after purchasing an additional 1,206 shares during the period. Finally, De Lisle Partners LLP boosted its position in shares of First United by 9.0% during the 3rd quarter. De Lisle Partners LLP now owns 120,838 shares of the bank's stock worth $3,619,000 after purchasing an additional 10,000 shares during the period. Hedge funds and other institutional investors own 33.27% of the company's stock.

First United Stock Down 3.1 %

FUNC stock traded down $1.22 during midday trading on Friday, hitting $37.64. The company's stock had a trading volume of 27,497 shares, compared to its average volume of 36,183. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.70. First United Co. has a 52-week low of $19.17 and a 52-week high of $42.50. The firm has a market capitalization of $243.53 million, a P/E ratio of 11.95 and a beta of 0.81. The firm has a 50-day simple moving average of $34.81 and a 200-day simple moving average of $32.46.

First United (NASDAQ:FUNC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The bank reported $0.95 EPS for the quarter, beating the consensus estimate of $0.86 by $0.09. First United had a net margin of 18.45% and a return on equity of 12.51%. As a group, equities analysts forecast that First United Co. will post 3.75 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FUNC. 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 report on Friday, February 7th. StockNews.com cut shares of First United from a "buy" rating to a "hold" rating in a research report on Sunday, February 16th.

First United Profile

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.