First United Corporation (NASDAQ:FUNC) Short Interest Update

First United Corporation (NASDAQ:FUNC) was the recipient of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 64,853 shares, an increase of 35.5% from the February 26th total of 47,870 shares. Based on an average daily volume of 17,731 shares, the days-to-cover ratio is presently 3.7 days. Approximately 1.1% of the shares of the company are short sold.

First United Stock Performance

Shares of First United stock traded down $0.44 during trading on Friday, hitting $36.34. 6,506 shares of the company’s stock were exchanged, compared to its average volume of 16,512. The stock has a market capitalization of $236.21 million, a price-to-earnings ratio of 9.64 and a beta of 0.54. The business has a 50-day simple moving average of $37.09 and a 200-day simple moving average of $37.21. First United has a 52-week low of $24.66 and a 52-week high of $41.94. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.94 and a current ratio of 0.94.

First United (NASDAQ:FUNC) last posted its quarterly earnings results on Wednesday, February 4th. The bank reported $1.10 EPS for the quarter, beating the consensus estimate of $0.96 by $0.14. The company had revenue of $23.50 million for the quarter, compared to analyst estimates of $22.80 million. First United had a net margin of 20.19% and a return on equity of 13.33%. On average, research analysts forecast that First United will post 3.75 EPS for the current year.

First United Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 17th will be paid a $0.26 dividend. The ex-dividend date is Friday, April 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.9%. First United’s dividend payout ratio is presently 27.59%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of First United in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy”.

Institutional Trading of First United

Several hedge funds and other institutional investors have recently bought and sold shares of FUNC. Millennium Management LLC raised its position in First United by 349.9% during the first quarter. Millennium Management LLC now owns 140,586 shares of the bank’s stock valued at $4,220,000 after acquiring an additional 109,340 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of First United by 53.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 58,718 shares of the bank’s stock worth $1,763,000 after purchasing an additional 20,387 shares during the period. Empowered Funds LLC grew its stake in shares of First United by 6.7% during the 1st quarter. Empowered Funds LLC now owns 26,549 shares of the bank’s stock worth $797,000 after purchasing an additional 1,656 shares during the period. Jane Street Group LLC increased its holdings in shares of First United by 67.4% during the 1st quarter. Jane Street Group LLC now owns 26,035 shares of the bank’s stock valued at $782,000 after purchasing an additional 10,483 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of First United by 112.3% during the 2nd quarter. Geode Capital Management LLC now owns 139,939 shares of the bank’s stock valued at $4,340,000 after purchasing an additional 74,032 shares in the last quarter. 33.27% of the stock is owned by institutional investors and hedge funds.

First United Company Profile

First United Corporation is a bank holding company that, through its subsidiary First United Bank & Trust, provides a full suite of commercial and consumer banking services to individuals, businesses, and agricultural customers across central Oklahoma. The company offers deposit accounts such as checking, savings, money market and time deposits, alongside a variety of lending solutions covering commercial real estate, construction, agricultural and consumer loans.

In addition to traditional banking products, First United delivers treasury management and cash management solutions designed to streamline client operations, as well as online and mobile banking platforms for account access and payments.