Trexquant Investment LP Purchases 3,870 Shares of First United Co. (NASDAQ:FUNC)

Trexquant Investment LP grew its position in shares of First United Co. (NASDAQ:FUNC) by 22.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,156 shares of the bank’s stock after acquiring an additional 3,870 shares during the quarter. Trexquant Investment LP’s holdings in First United were worth $713,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC acquired a new position in First United during the third quarter worth $126,000. Bank of New York Mellon Corp boosted its stake in shares of First United by 31.3% during the 4th quarter. Bank of New York Mellon Corp now owns 15,440 shares of the bank’s stock worth $520,000 after buying an additional 3,683 shares during the last quarter. Ritholtz Wealth Management boosted its stake in shares of First United by 34.9% during the 4th quarter. Ritholtz Wealth Management now owns 20,786 shares of the bank’s stock worth $701,000 after buying an additional 5,374 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of First United by 5.0% in the 4th quarter. Empowered Funds LLC now owns 24,893 shares of the bank’s stock valued at $839,000 after acquiring an additional 1,180 shares in the last quarter. Finally, Angel Oak Capital Advisors LLC acquired a new stake in shares of First United in the fourth quarter valued at about $934,000. 33.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Raymond James raised First United from a “market perform” rating to an “outperform” rating and set a $42.00 price target for the company in a research report on Friday, February 7th. StockNews.com cut shares of First United from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th.

First United Stock Down 4.6 %

First United stock opened at $27.04 on Friday. First United Co. has a fifty-two week low of $19.17 and a fifty-two week high of $42.50. The firm has a market capitalization of $175.03 million, a PE ratio of 8.58 and a beta of 0.58. The company’s 50-day moving average is $33.10 and its 200-day moving average is $33.04. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.94 and a quick ratio of 0.94.

First United (NASDAQ:FUNC) last released its quarterly earnings data on Wednesday, February 5th. The bank reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.09. First United had a return on equity of 12.51% and a net margin of 18.45%. Sell-side analysts anticipate that First United Co. will post 3.75 earnings per share for the current year.

First United Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 17th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.25%. The ex-dividend date is Thursday, April 17th. First United’s dividend payout ratio is 27.94%.

First United 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.