First United (NASDAQ:FUNC) Shares Pass Above 200 Day Moving Average – Here’s Why

First United Co. (NASDAQ:FUNC) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $28.01 and traded as high as $36.14. First United shares last traded at $35.56, with a volume of 17,800 shares.

Analysts Set New Price Targets

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

First United Stock Down 0.3 %

The stock’s fifty day moving average is $33.36 and its two-hundred day moving average is $28.07. 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 company has a market capitalization of $230.07 million, a PE ratio of 14.46 and a beta of 0.80.

First United (NASDAQ:FUNC) last released its earnings results on Monday, October 21st. The bank reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. First United had a return on equity of 12.20% and a net margin of 14.70%. The business had revenue of $28.17 million during the quarter, compared to the consensus estimate of $20.30 million. As a group, analysts predict that First United Co. will post 3.11 EPS for the current year.

First United Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 17th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, January 17th. First United’s payout ratio is currently 35.77%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Empowered Funds LLC boosted its holdings 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 worth $708,000 after acquiring an additional 1,206 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in First United during the 3rd quarter worth about $97,000. Barclays PLC bought a new position in First United in the 3rd quarter worth about $126,000. American Century Companies Inc. grew its stake in 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 acquiring an additional 4,645 shares in the last quarter. Finally, Huber Capital Management LLC raised its position in shares of First United by 4.2% in the second quarter. Huber Capital Management LLC now owns 124,556 shares of the bank’s stock worth $2,543,000 after buying an additional 5,000 shares in the last quarter. 33.27% of the stock is currently owned by hedge funds and other institutional investors.

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.