Fourthstone LLC Decreases Stock Holdings in First United Co. (NASDAQ:FUNC)

Fourthstone LLC lowered its position in First United Co. (NASDAQ:FUNC - Free Report) by 36.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 278,788 shares of the bank's stock after selling 162,355 shares during the quarter. First United makes up about 1.8% of Fourthstone LLC's holdings, making the stock its 17th biggest holding. Fourthstone LLC owned about 4.31% of First United worth $9,398,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC purchased a new position in First United in the 3rd quarter valued at $126,000. Bank of New York Mellon Corp boosted its holdings in First United by 31.3% in the fourth quarter. Bank of New York Mellon Corp now owns 15,440 shares of the bank's stock valued at $520,000 after purchasing an additional 3,683 shares during the last quarter. Ritholtz Wealth Management lifted its position in shares of 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 purchasing an additional 5,374 shares during the last quarter. Trexquant Investment LP boosted its position in First United by 22.4% during the 4th quarter. Trexquant Investment LP now owns 21,156 shares of the bank's stock valued at $713,000 after purchasing an additional 3,870 shares during the period. Finally, Empowered Funds LLC raised its stake in First United by 5.0% during the 4th quarter. Empowered Funds LLC now owns 24,893 shares of the bank's stock valued at $839,000 after acquiring an additional 1,180 shares in the last quarter. Institutional investors and hedge funds own 33.27% of the company's stock.

First United Stock Performance

Shares of NASDAQ FUNC traded up $1.14 during midday trading on Tuesday, hitting $29.64. 5,681 shares of the company's stock were exchanged, compared to its average volume of 24,169. The company's 50 day moving average price is $31.79 and its 200 day moving average price is $32.99. 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 firm has a market capitalization of $191.86 million, a PE ratio of 9.41 and a beta of 0.58. First United Co. has a 12 month low of $19.17 and a 12 month high of $42.50.

First United (NASDAQ:FUNC - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The bank reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.09. The company had revenue of $20.84 million during the quarter, compared to the consensus estimate of $20.63 million. First United had a return on equity of 12.51% and a net margin of 18.45%. As a group, analysts predict that First United Co. will post 3.75 earnings per share for the current fiscal year.

First United Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 17th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Thursday, April 17th. First United's dividend payout ratio is presently 27.94%.

Analyst Ratings Changes

FUNC has been the subject of several research analyst reports. Raymond James upgraded shares of First United from a "market perform" rating to an "outperform" rating and set a $42.00 price target for the company in a research report on Friday, February 7th. StockNews.com lowered shares of First United from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th.

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.