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

StockNews.com cut shares of First United (NASDAQ:FUNC) from a buy rating to a hold rating in a report issued on Sunday.

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

First United Stock Up 2.2 %

FUNC stock opened at $41.26 on Friday. The company has a 50 day moving average of $34.49 and a two-hundred day moving average of $32.18. The company has a market cap of $266.98 million, a price-to-earnings ratio of 13.10 and a beta of 0.81. First United has a 12-month low of $19.17 and a 12-month high of $42.50. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.70.

First United (NASDAQ:FUNC) last announced its quarterly earnings data on Wednesday, February 5th. The bank reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate 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 anticipate that First United will post 3.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First United

Several institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its position in First United by 194.4% during 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 3rd quarter worth about $97,000. Barclays PLC acquired a new position in shares of First United during the 3rd quarter valued at about $126,000. Price T Rowe Associates Inc. MD bought a new position in shares of First United in the 4th quarter valued at approximately $237,000. Finally, 683 Capital Management LLC acquired a new stake in First United in the 4th quarter worth approximately $339,000. Institutional investors and hedge funds own 33.27% 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. 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.