First United (NASDAQ:FUNC – Get Free Report) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
First United Stock Performance
NASDAQ FUNC traded up $0.01 during trading hours on Monday, reaching $21.51. The company’s stock had a trading volume of 9,200 shares, compared to its average volume of 24,337. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $22.39 and a 200 day simple moving average of $21.82. First United has a 52 week low of $12.98 and a 52 week high of $24.28. The stock has a market cap of $143.04 million, a PE ratio of 10.00 and a beta of 0.84.
First United (NASDAQ:FUNC – Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.06. The business had revenue of $18.61 million for the quarter, compared to analysts’ expectations of $18.75 million. First United had a return on equity of 11.64% and a net margin of 13.82%. Equities research analysts predict that First United will post 2.75 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of FUNC. AJOVista LLC bought a new stake in shares of First United during the fourth quarter valued at approximately $49,000. Hillsdale Investment Management Inc. bought a new stake in First United during the 1st quarter valued at $111,000. Price T Rowe Associates Inc. MD acquired a new position in First United during the 1st quarter worth $209,000. Quadrature Capital Ltd bought a new position in shares of First United in the first quarter worth $298,000. Finally, Empowered Funds LLC increased its holdings in shares of First United by 8.0% during the first quarter. Empowered Funds LLC now owns 16,136 shares of the bank’s stock valued at $370,000 after purchasing an additional 1,192 shares during the period. 33.27% of the stock is 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. 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.