First United (NASDAQ:FUNC) Share Price Crosses Above 200-Day Moving Average – Here’s Why

First United Co. (NASDAQ:FUNC)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $29.39 and traded as high as $33.93. First United shares last traded at $33.42, with a volume of 26,033 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 report on Monday, October 7th.

First United Price Performance

The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.94 and a current ratio of 0.94. The stock’s 50-day moving average is $34.28 and its two-hundred day moving average is $29.39. The stock has a market cap of $216.19 million, a PE ratio of 13.59 and a beta of 0.80.

First United (NASDAQ:FUNC) last released its quarterly earnings results on Monday, October 21st. The bank reported $0.89 EPS for the quarter, topping the consensus estimate of $0.79 by $0.10. First United had a return on equity of 12.20% and a net margin of 14.70%. The business had revenue of $28.17 million during the quarter, compared to analyst estimates of $20.30 million. On average, equities analysts predict that First United Co. will post 3.11 earnings per share for the current year.

First United Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 17th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.88 annualized dividend and a yield of 2.63%. First United’s payout ratio is 35.77%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Fourthstone LLC raised its position in shares of First United by 30.0% during the 3rd quarter. Fourthstone LLC now owns 441,143 shares of the bank’s stock worth $13,164,000 after acquiring an additional 101,915 shares in the last quarter. Acadian Asset Management LLC increased its stake in First United by 72.2% in the second quarter. Acadian Asset Management LLC now owns 66,698 shares of the bank’s stock valued at $1,360,000 after purchasing an additional 27,973 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in First United by 7.0% during 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 in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of First United during the 3rd quarter worth approximately $460,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of First United by 14.3% in the 2nd quarter. Renaissance Technologies LLC now owns 82,195 shares of the bank’s stock valued at $1,678,000 after buying an additional 10,280 shares in the last quarter. Hedge funds and other institutional investors own 33.27% of the company’s stock.

About First United

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.