First United Co. (NASDAQ:FUNC) Shares Bought by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC lifted its position in shares of First United Co. (NASDAQ:FUNC - Free Report) by 58.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,253 shares of the bank's stock after acquiring an additional 15,523 shares during the quarter. O Shaughnessy Asset Management LLC owned 0.65% of First United worth $1,424,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in FUNC. Barclays PLC acquired a new position in shares of First United during the third quarter worth about $126,000. Bank of New York Mellon Corp boosted its holdings in First United by 31.3% during the fourth quarter. Bank of New York Mellon Corp now owns 15,440 shares of the bank's stock worth $520,000 after buying an additional 3,683 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in First United by 34.9% during the fourth quarter. Ritholtz Wealth Management now owns 20,786 shares of the bank's stock worth $701,000 after buying an additional 5,374 shares in the last quarter. Empowered Funds LLC boosted its holdings in First United by 5.0% during the fourth quarter. Empowered Funds LLC now owns 24,893 shares of the bank's stock worth $839,000 after buying an additional 1,180 shares in the last quarter. Finally, Angel Oak Capital Advisors LLC purchased a new stake in First United during the fourth quarter worth about $934,000. 33.27% of the stock is currently owned by institutional investors and hedge funds.

First United Price Performance

Shares of NASDAQ FUNC traded down $1.36 on Thursday, hitting $28.58. The company's stock had a trading volume of 549 shares, compared to its average volume of 24,338. First United Co. has a 12-month low of $19.17 and a 12-month high of $42.50. The company has a market capitalization of $185.00 million, a price-to-earnings ratio of 9.00 and a beta of 0.58. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a 50 day moving average of $33.29 and a 200-day moving average of $33.07.

First United (NASDAQ:FUNC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The bank reported $0.95 earnings per share (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, research analysts predict that First United Co. will post 3.75 EPS 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 paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Thursday, April 17th. First United's payout ratio is 27.94%.

Analysts Set New Price Targets

A number of research firms recently commented 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 on the stock in a report on Friday, February 7th. StockNews.com downgraded shares of First United from a "buy" rating to a "hold" rating in a report on Saturday, March 29th.

First United Company 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.