First United Co. (NASDAQ:FUNC) Short Interest Down 51.6% in February

First United Co. (NASDAQ:FUNC) was the target of a significant decline in short interest in February. As of February 28th, there was short interest totalling 7,500 shares, a decline of 51.6% from the February 13th total of 15,500 shares. Based on an average daily trading volume, of 28,900 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the company’s stock are sold short.

First United Stock Up 2.5 %

Shares of NASDAQ:FUNC traded up $0.73 on Friday, reaching $30.13. The company had a trading volume of 16,373 shares, compared to its average volume of 23,767. First United has a twelve month low of $19.17 and a twelve month high of $42.50. The stock has a 50-day moving average price of $34.52 and a 200 day moving average price of $33.05. The stock has a market capitalization of $194.91 million, a P/E ratio of 9.57 and a beta of 0.77. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.70.

First United (NASDAQ:FUNC) last announced its quarterly earnings results on Wednesday, February 5th. The bank reported $0.95 earnings per share for the quarter, topping 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%. On average, equities analysts expect that First United will post 3.75 EPS for the current year.

First United Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 17th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.88 annualized dividend and a dividend yield of 2.92%. First United’s dividend payout ratio is presently 27.94%.

Hedge Funds Weigh In On First United

Several large investors have recently made changes to their positions in FUNC. Millennium Management LLC raised its holdings in First United by 102.5% in the 4th quarter. Millennium Management LLC now owns 31,246 shares of the bank’s stock valued at $1,053,000 after acquiring an additional 15,815 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in First United by 0.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 77,761 shares of the bank’s stock valued at $2,621,000 after acquiring an additional 380 shares in the last quarter. Bank of America Corp DE raised its holdings in First United by 449.4% in the 4th quarter. Bank of America Corp DE now owns 11,648 shares of the bank’s stock valued at $393,000 after acquiring an additional 9,528 shares in the last quarter. 683 Capital Management LLC acquired a new position in First United in the 4th quarter valued at approximately $339,000. Finally, Jane Street Group LLC acquired a new position in First United in the 4th quarter valued at approximately $524,000. Institutional investors and hedge funds own 33.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FUNC. StockNews.com upgraded First United from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Raymond James upgraded First United from a “market perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research note on Friday, February 7th.

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.