First United (NASDAQ:FUNC) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of First United (NASDAQ:FUNC) from a buy rating to a hold rating in a research report sent to investors on Friday.

First United Stock Up 0.8 %

FUNC opened at $32.58 on Friday. The stock’s fifty day moving average is $33.97 and its 200-day moving average is $31.28. First United has a one year low of $19.17 and a one year high of $36.49. The company has a market capitalization of $210.76 million, a PE ratio of 13.24 and a beta of 0.81. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.94 and a current ratio of 0.94.

First United Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 17th will be given 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 dividend yield of 2.70%. First United’s dividend payout ratio (DPR) is 35.77%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FUNC. Fourthstone LLC boosted its holdings in shares of First United by 30.0% in the third quarter. Fourthstone LLC now owns 441,143 shares of the bank’s stock worth $13,164,000 after buying an additional 101,915 shares during the period. Angel Oak Capital Advisors LLC acquired a new position in First United in the 4th quarter worth approximately $934,000. Dimensional Fund Advisors LP grew its position in First United by 7.0% during the 2nd 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 acquired a new stake in First United during the 3rd quarter valued at $460,000. Finally, Renaissance Technologies LLC raised its stake in First United by 14.3% during the 2nd quarter. Renaissance Technologies LLC now owns 82,195 shares of the bank’s stock valued at $1,678,000 after purchasing an additional 10,280 shares during the period. 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.