First United (NASDAQ:FUNC) Upgraded at StockNews.com

StockNews.com upgraded shares of First United (NASDAQ:FUNC - Free Report) from a hold rating to a buy rating in a research note published on Monday morning.

Separately, Raymond James raised 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 note on Friday, February 7th.

First United Trading Down 0.9 %

Shares of First United stock traded down $0.32 during trading hours on Monday, hitting $35.56. The company's stock had a trading volume of 18,607 shares, compared to its average volume of 35,366. The business has a fifty day moving average of $34.88 and a 200 day moving average of $32.69. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.70. First United has a 1-year low of $19.17 and a 1-year high of $42.50. The company has a market capitalization of $230.04 million, a PE ratio of 11.29 and a beta of 0.81.

First United (NASDAQ:FUNC - Get Free Report) last announced its earnings results on Wednesday, February 5th. The bank reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.09. First United had a return on equity of 12.51% and a net margin of 18.45%. As a group, equities analysts forecast that First United will post 3.75 EPS for the current year.

Remove Ads

Institutional Investors Weigh In On First United

A number of institutional investors have recently bought and sold shares of FUNC. Fourthstone LLC lifted its holdings in First United by 30.0% during the 3rd quarter. Fourthstone LLC now owns 441,143 shares of the bank's stock worth $13,164,000 after buying an additional 101,915 shares in the last quarter. Susquehanna International Group LLP boosted its holdings in shares of First United by 565.9% in the fourth quarter. Susquehanna International Group LLP now owns 92,430 shares of the bank's stock valued at $3,116,000 after buying an additional 78,550 shares during the period. Angel Oak Capital Advisors LLC acquired a new stake in shares of First United in the 4th quarter valued at about $934,000. Marshall Wace LLP raised its position in First United by 218.9% in the 4th quarter. Marshall Wace LLP now owns 24,146 shares of the bank's stock valued at $814,000 after buying an additional 16,574 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in First United by 102.5% in the 4th quarter. Millennium Management LLC now owns 31,246 shares of the bank's stock valued at $1,053,000 after acquiring an additional 15,815 shares in the last quarter. Institutional investors and hedge funds 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.