First United (NASDAQ:FUNC) Stock Price Crosses Above Two Hundred Day Moving Average of $22.27

Shares of First United Co. (NASDAQ:FUNC) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $22.27 and traded as high as $27.48. First United shares last traded at $27.08, with a volume of 11,314 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com upgraded First United from a “hold” rating to a “buy” rating in a research note on Tuesday, July 30th.

First United Stock Performance

The business has a 50 day simple moving average of $22.58 and a 200 day simple moving average of $22.30. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $180.05 million, a PE ratio of 12.60 and a beta of 0.78.

First United (NASDAQ:FUNC) last released its quarterly earnings results on Monday, July 22nd. The bank reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. First United had a return on equity of 11.85% and a net margin of 13.84%. The company had revenue of $27.95 million during the quarter, compared to analysts’ expectations of $19.34 million. Equities research analysts predict that First United Co. will post 3 EPS for the current fiscal year.

First United Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Thursday, July 18th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Thursday, July 18th. First United’s dividend payout ratio (DPR) is presently 37.21%.

Insider Transactions at First United

In other news, Director Irvin Robert Rudy sold 2,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $27.52, for a total value of $55,040.00. Following the completion of the transaction, the director now directly owns 37,000 shares in the company, valued at $1,018,240. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders bought a total of 188 shares of company stock worth $5,254 over the last three months. 7.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC raised its stake in shares of First United by 14.3% in the second quarter. Renaissance Technologies LLC now owns 82,195 shares of the bank’s stock worth $1,678,000 after purchasing an additional 10,280 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of First United by 7.0% in the second quarter. Dimensional Fund Advisors LP now owns 372,330 shares of the bank’s stock worth $7,603,000 after purchasing an additional 24,457 shares during the last quarter. American Century Companies Inc. raised its stake in shares of First United by 13.2% in the second quarter. American Century Companies Inc. now owns 39,947 shares of the bank’s stock worth $816,000 after purchasing an additional 4,645 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of First United by 72.2% in the second quarter. Acadian Asset Management LLC now owns 66,698 shares of the bank’s stock worth $1,360,000 after purchasing an additional 27,973 shares during the last quarter. Finally, Gendell Jeffrey L raised its position in First United by 6.3% during the first quarter. Gendell Jeffrey L now owns 178,352 shares of the bank’s stock valued at $4,086,000 after acquiring an additional 10,648 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.