First United Co. (NASDAQ:FUNC) Stock Holdings Increased by Acadian Asset Management LLC

Acadian Asset Management LLC boosted its position in First United Co. (NASDAQ:FUNC) by 72.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 66,698 shares of the bank’s stock after buying an additional 27,973 shares during the period. Acadian Asset Management LLC’s holdings in First United were worth $1,360,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hillsdale Investment Management Inc. acquired a new position in First United in the first quarter valued at approximately $111,000. Price T Rowe Associates Inc. MD acquired a new position in First United in the first quarter valued at approximately $209,000. Quadrature Capital Ltd acquired a new position in First United in the first quarter valued at approximately $298,000. Empowered Funds LLC boosted its stake in First United by 8.0% in the first quarter. Empowered Funds LLC now owns 16,136 shares of the bank’s stock valued at $370,000 after acquiring an additional 1,192 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its stake in First United by 103.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 22,805 shares of the bank’s stock valued at $522,000 after acquiring an additional 11,576 shares during the period. 33.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com downgraded First United from a “buy” rating to a “hold” rating in a research note on Thursday, August 29th.

First United Stock Performance

Shares of NASDAQ FUNC opened at $28.97 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.43. The stock has a 50 day simple moving average of $26.80 and a 200-day simple moving average of $23.40. The company has a market cap of $187.44 million, a PE ratio of 13.47 and a beta of 0.79. First United Co. has a 12-month low of $15.68 and a 12-month high of $29.24.

First United (NASDAQ:FUNC) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.09. The business had revenue of $27.95 million during the quarter, compared to the consensus estimate of $19.34 million. First United had a return on equity of 11.78% and a net margin of 13.84%. On average, equities research analysts forecast that First United Co. will post 3 EPS for the current year.

First United Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Thursday, July 18th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, July 18th. This represents a $0.80 annualized dividend and a dividend yield of 2.76%. First United’s dividend payout ratio is presently 37.21%.

Insider Transactions at First United

In other First United news, Director Irvin Robert Rudy sold 2,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 37,000 shares in the company, valued at $1,018,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders acquired 188 shares of company stock worth $5,254. Company insiders own 7.80% 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.