First United (NASDAQ:FUNC) Stock Price Crosses Above Two Hundred Day Moving Average - Here's Why

First United Co. (NASDAQ:FUNC - Get Free Report)'s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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.

Analysts Set New Price Targets

Separately, StockNews.com raised First United from a "hold" rating to a "buy" rating in a report on Monday, October 7th.

First United Stock Performance

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

First United (NASDAQ:FUNC - Get Free Report) last announced its quarterly earnings data on Monday, October 21st. The bank reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.10. The company had revenue of $28.17 million for the quarter, compared to analysts' expectations of $20.30 million. First United had a return on equity of 12.20% and a net margin of 14.70%. On average, equities analysts expect that First United Co. will post 3.11 earnings per share for the current year.

First United Announces Dividend

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 paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.88 dividend on an annualized basis and a yield of 2.47%. First United's dividend payout ratio (DPR) is currently 35.77%.

Institutional Trading of First United

Institutional investors have recently added to or reduced their stakes in the company. Barclays PLC acquired a new position in shares of First United during the 3rd quarter worth approximately $126,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of First United in the third quarter worth $97,000. Fourthstone LLC raised its stake in First United by 30.0% in the third quarter. Fourthstone LLC now owns 441,143 shares of the bank's stock valued at $13,164,000 after purchasing an additional 101,915 shares in the last quarter. De Lisle Partners LLP lifted its position in First United by 9.0% during the third 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. Finally, Empowered Funds LLC grew its stake in 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 in the last quarter. 33.27% of the stock is currently owned by institutional investors.

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.