First United (NASDAQ:FUNC) Rating Lowered to Hold at StockNews.com

First United (NASDAQ:FUNC) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Saturday.

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

First United Price Performance

FUNC opened at $29.69 on Friday. First United has a 1 year low of $19.17 and a 1 year high of $42.50. The stock has a 50-day moving average price of $34.14 and a 200-day moving average price of $33.21. The firm has a market cap of $192.18 million, a PE ratio of 9.43 and a beta of 0.77. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.94 and a quick ratio of 0.94.

First United (NASDAQ:FUNC) last announced its quarterly earnings results on Wednesday, February 5th. The bank reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.09. First United had a return on equity of 12.51% and a net margin of 18.45%. Sell-side analysts predict that First United will post 3.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Susquehanna International Group LLP increased its holdings in shares of First United by 565.9% in the 4th quarter. Susquehanna International Group LLP now owns 92,430 shares of the bank’s stock valued at $3,116,000 after acquiring an additional 78,550 shares during the period. Angel Oak Capital Advisors LLC bought a new stake in First United during the fourth quarter valued at about $934,000. Marshall Wace LLP grew its stake in First United by 218.9% in the fourth quarter. Marshall Wace LLP now owns 24,146 shares of the bank’s stock valued at $814,000 after purchasing an additional 16,574 shares during the last quarter. Millennium Management LLC raised its holdings in First United by 102.5% in the fourth quarter. Millennium Management LLC now owns 31,246 shares of the bank’s stock worth $1,053,000 after purchasing an additional 15,815 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of First United in the 4th quarter valued at about $529,000. Institutional investors 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.