First United Co. (NASDAQ:FUNC – Get Rating) was the recipient of a significant decline in short interest during the month of July. As of July 15th, there was short interest totalling 1,800 shares, a decline of 21.7% from the June 30th total of 2,300 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 12,900 shares, the days-to-cover ratio is presently 0.1 days.
Wall Street Analyst Weigh In
FUNC has been the topic of a number of recent analyst reports. Raymond James lowered their price target on First United from $28.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, July 7th. StockNews.com started coverage on First United in a research report on Tuesday, June 14th. They issued a “strong-buy” rating on the stock.
First United Price Performance
First United stock opened at $18.02 on Monday. First United has a 12 month low of $16.55 and a 12 month high of $24.50. The stock’s 50 day moving average is $18.83 and its 200-day moving average is $20.80. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $119.62 million, a price-to-earnings ratio of 5.18 and a beta of 0.80.
First United (NASDAQ:FUNC – Get Rating) last announced its quarterly earnings results on Monday, July 25th. The bank reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.06). First United had a net margin of 29.46% and a return on equity of 17.88%.
First United Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Monday, July 18th will be paid a $0.15 dividend. The ex-dividend date is Friday, July 15th. This represents a $0.60 annualized dividend and a dividend yield of 3.33%. First United’s dividend payout ratio is presently 17.24%.
Institutional Trading of First United
Large investors have recently made changes to their positions in the company. Acadian Asset Management LLC bought a new position in First United in the 1st quarter valued at about $212,000. State Street Corp lifted its position in First United by 11.1% in the 1st quarter. State Street Corp now owns 14,637 shares of the bank’s stock valued at $330,000 after acquiring an additional 1,462 shares in the last quarter. BHZ Capital Management LP lifted its position in First United by 37.5% in the 4th quarter. BHZ Capital Management LP now owns 20,906 shares of the bank’s stock valued at $392,000 after acquiring an additional 5,697 shares in the last quarter. American Century Companies Inc. lifted its position in First United by 36.9% in the 4th quarter. American Century Companies Inc. now owns 21,471 shares of the bank’s stock valued at $405,000 after acquiring an additional 5,782 shares in the last quarter. Finally, rhino investment partners Inc bought a new position in shares of First United during the 1st quarter worth approximately $617,000. 29.06% of the stock is currently owned by institutional investors and hedge funds.
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. The company offers various deposit products, including checking accounts, savings and money market accounts, regular and individual retirement accounts (IRA) certificates of deposit, Christmas savings accounts, college savings accounts, and health savings accounts; Certificate of Deposit Account Registry Service program and Insured Cash Sweep program to municipalities, businesses, and consumers; and commercial customers packages, which include treasury management, cash sweep, and various checking opportunities.