First United (NASDAQ:FUNC) Raised to Outperform at Raymond James

First United (NASDAQ:FUNC - Get Free Report) was upgraded by equities research analysts at Raymond James from a "market perform" rating to an "outperform" rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The firm presently has a $42.00 target price on the bank's stock. Raymond James' price target would suggest a potential upside of 1.93% from the stock's current price.

Separately, StockNews.com lowered shares of First United from a "buy" rating to a "hold" rating in a research report on Friday, January 31st.

First United Stock Performance

Shares of First United stock traded up $0.91 on Friday, reaching $41.20. 24,289 shares of the company traded hands, compared to its average volume of 38,524. 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 firm has a market capitalization of $266.59 million, a PE ratio of 13.02 and a beta of 0.81. The company has a 50 day moving average of $34.00 and a 200 day moving average of $31.72. First United has a 52 week low of $19.17 and a 52 week high of $42.50.

First United (NASDAQ:FUNC - Get Free Report) last released its earnings results on Wednesday, February 5th. The bank reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.09. First United had a return on equity of 12.51% and a net margin of 18.45%. Equities analysts forecast that First United will post 3.3 earnings per share for the current year.

Institutional Trading of First United

Institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of First United during the third quarter valued at about $97,000. Barclays PLC purchased a new position in First United during the third quarter valued at approximately $126,000. SeaCrest Wealth Management LLC bought a new stake in First United during the 3rd quarter worth approximately $202,000. Ritholtz Wealth Management purchased a new stake in First United in the 3rd quarter worth approximately $460,000. Finally, Bank of New York Mellon Corp boosted its holdings in First United by 31.3% in the 4th 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 period. Hedge funds and other institutional investors own 33.27% of the company's stock.

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.