Dimensional Fund Advisors LP Raises Stock Holdings in First United Co. (NASDAQ:FUNC)

Dimensional Fund Advisors LP increased its stake in shares of First United Co. (NASDAQ:FUNC - Free Report) by 7.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 372,330 shares of the bank's stock after acquiring an additional 24,457 shares during the quarter. Dimensional Fund Advisors LP owned approximately 5.60% of First United worth $7,603,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Hillsdale Investment Management Inc. purchased a new stake in shares of First United in the first quarter valued at about $111,000. Price T Rowe Associates Inc. MD bought a new position in First United during the first quarter valued at about $209,000. Quadrature Capital Ltd bought a new position in First United during the first quarter valued at about $298,000. Empowered Funds LLC boosted its position in First United by 8.0% during the first quarter. Empowered Funds LLC now owns 16,136 shares of the bank's stock worth $370,000 after purchasing an additional 1,192 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its position in First United by 103.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 22,805 shares of the bank's stock worth $522,000 after purchasing an additional 11,576 shares during the period. Institutional investors and hedge funds own 33.27% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of First United from a "hold" rating to a "buy" rating in a research report on Monday.

Insiders Place Their Bets

In other First United news, Director Irvin Robert Rudy sold 2,000 shares of First United stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $27.52, for a total transaction of $55,040.00. Following the transaction, the director now directly owns 37,000 shares of the company's stock, valued at approximately $1,018,240. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have acquired 188 shares of company stock valued at $5,254. 7.80% of the stock is currently owned by corporate insiders.

First United Price Performance

Shares of FUNC stock traded down $0.03 during trading hours on Tuesday, reaching $29.67. The stock had a trading volume of 1,139 shares, compared to its average volume of 23,440. The stock's fifty day simple moving average is $28.67 and its 200 day simple moving average is $24.28. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.43. First United Co. has a 12 month low of $15.68 and a 12 month high of $30.93. The firm has a market capitalization of $197.28 million, a PE ratio of 13.81 and a beta of 0.79.

First United (NASDAQ:FUNC - Get Free Report) last announced its earnings results on Monday, July 22nd. The bank reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.09. The business had revenue of $27.95 million for the quarter, compared to the consensus estimate of $19.34 million. First United had a net margin of 13.84% and a return on equity of 11.78%. On average, equities research analysts predict that First United Co. will post 3 EPS for the current year.

First United Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be paid a $0.22 dividend. This is an increase from First United's previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Friday, October 18th. First United's dividend payout ratio (DPR) is currently 40.93%.

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.