First United (NASDAQ:FUNC) Cut to "Hold" at StockNews.com

StockNews.com cut shares of First United (NASDAQ:FUNC - Free Report) from a buy rating to a hold rating in a report issued on Friday morning.

First United Trading Up 2.1 %

NASDAQ:FUNC traded up $0.67 during mid-day trading on Friday, hitting $32.87. 42,911 shares of the company's stock were exchanged, compared to its average volume of 31,786. First United has a fifty-two week low of $19.17 and a fifty-two week high of $36.49. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $212.67 million, a P/E ratio of 13.36 and a beta of 0.81. The company has a 50 day simple moving average of $33.90 and a 200-day simple moving average of $31.34.

First United Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 17th were paid a $0.22 dividend. The ex-dividend date was Friday, January 17th. This represents a $0.88 annualized dividend and a dividend yield of 2.68%. First United's dividend payout ratio is 35.77%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FUNC. Empowered Funds LLC increased its stake in shares of First United by 5.4% in the third quarter. Empowered Funds LLC now owns 23,713 shares of the bank's stock valued at $708,000 after buying an additional 1,206 shares during the period. Barclays PLC acquired a new stake in First United during the 3rd quarter valued at approximately $126,000. Ritholtz Wealth Management raised its holdings in 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 last quarter. Dimensional Fund Advisors LP lifted its position in shares of First United by 7.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 372,330 shares of the bank's stock worth $7,603,000 after purchasing an additional 24,457 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of First United by 14.3% in the 2nd quarter. Renaissance Technologies LLC now owns 82,195 shares of the bank's stock valued at $1,678,000 after purchasing an additional 10,280 shares during the last quarter. 33.27% of the stock is 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.