Equities research analysts at StockNews.com initiated coverage on shares of First United (NASDAQ:FUNC – Get Rating) in a report released on Monday. The firm set a “buy” rating on the bank’s stock.
First United Stock Performance
FUNC stock opened at $19.22 on Monday. The business’s fifty day moving average is $18.97 and its 200-day moving average is $18.26. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. The company has a market cap of $127.93 million, a P/E ratio of 4.98 and a beta of 0.78. First United has a twelve month low of $16.18 and a twelve month high of $24.50.
First United (NASDAQ:FUNC – Get Rating) last posted its quarterly earnings results on Thursday, October 20th. The bank reported $1.04 earnings per share for the quarter. The company had revenue of $19.84 million for the quarter. First United had a return on equity of 18.65% and a net margin of 32.12%.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in FUNC. rhino investment partners Inc increased its position in shares of First United by 81.5% in the 2nd quarter. rhino investment partners Inc now owns 49,697 shares of the bank’s stock valued at $932,000 after buying an additional 22,315 shares in the last quarter. Millennium Management LLC bought a new stake in shares of First United in the 2nd quarter valued at $283,000. First Republic Investment Management Inc. bought a new stake in shares of First United in the 3rd quarter valued at $212,000. Acadian Asset Management LLC bought a new stake in shares of First United in the 1st quarter valued at $212,000. Finally, BlackRock Inc. increased its position in shares of First United by 11.4% in the 1st quarter. BlackRock Inc. now owns 80,654 shares of the bank’s stock valued at $1,817,000 after buying an additional 8,224 shares in the last quarter. Institutional investors and hedge funds own 31.59% of the company’s stock.
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.