First United (NASDAQ:FUNC) Downgraded to Hold Rating by StockNews.com

First United (NASDAQ:FUNC) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Sunday.

Separately, Raymond James upgraded First United from a “market perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research report on Friday, February 7th.

First United Trading Down 2.4 %

Shares of FUNC opened at $40.37 on Friday. 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 cap of $261.19 million, a P/E ratio of 12.82 and a beta of 0.81. First United has a 1 year low of $19.17 and a 1 year high of $42.50. The company has a 50 day simple moving average of $34.40 and a two-hundred day simple moving average of $32.06.

First United (NASDAQ:FUNC) last posted its earnings results on Wednesday, February 5th. The bank reported $0.95 EPS for the quarter, beating 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%. On average, equities analysts expect that First United will post 3.3 earnings per share for the current fiscal year.

Institutional Trading of First United

A number of institutional investors have recently bought and sold shares of FUNC. Tower Research Capital LLC TRC lifted its position in First United by 194.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 742 shares of the bank’s stock worth $25,000 after buying an additional 490 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of First United during the third quarter worth $97,000. Barclays PLC bought a new stake in shares of First United during the third quarter worth $126,000. Price T Rowe Associates Inc. MD bought a new stake in shares of First United during the fourth quarter worth $237,000. Finally, Bank of New York Mellon Corp lifted its position in shares of First United by 31.3% during the fourth quarter. Bank of New York Mellon Corp now owns 15,440 shares of the bank’s stock worth $520,000 after purchasing an additional 3,683 shares during the last quarter. 33.27% of the stock is currently owned by institutional investors.

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.