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

First United Co. (NASDAQ:FUNC - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $30.29 and traded as high as $34.94. First United shares last traded at $33.05, with a volume of 47,616 shares.

Wall Street Analysts Forecast Growth

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

First United Price Performance

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's 50 day moving average price is $34.41 and its two-hundred day moving average price is $30.29. The firm has a market capitalization of $212.68 million, a price-to-earnings ratio of 13.38 and a beta of 0.81.

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

First United Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 17th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Friday, January 17th. First United's dividend payout ratio (DPR) is currently 35.77%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Empowered Funds LLC increased its position 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 acquiring an additional 1,206 shares during the period. Barclays PLC bought a new position in shares of First United during the 3rd quarter worth about $126,000. American Century Companies Inc. raised its position in shares of First United by 13.2% during the second quarter. American Century Companies Inc. now owns 39,947 shares of the bank's stock valued at $816,000 after buying an additional 4,645 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of First United by 7.0% in the second quarter. Dimensional Fund Advisors LP now owns 372,330 shares of the bank's stock valued at $7,603,000 after buying an additional 24,457 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of First United by 14.3% in the second quarter. Renaissance Technologies LLC now owns 82,195 shares of the bank's stock valued at $1,678,000 after buying an additional 10,280 shares during the period. 33.27% of the stock is currently owned by institutional investors and hedge funds.

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.