First United Corporation $FUNC Shares Bought by De Lisle Partners LLP

De Lisle Partners LLP lifted its holdings in shares of First United Corporation (NASDAQ:FUNC) by 7.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150,390 shares of the bank’s stock after buying an additional 11,016 shares during the period. De Lisle Partners LLP owned about 2.32% of First United worth $4,670,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Millennium Management LLC raised its position in First United by 349.9% in the first quarter. Millennium Management LLC now owns 140,586 shares of the bank’s stock worth $4,220,000 after acquiring an additional 109,340 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of First United by 112.3% during the 2nd quarter. Geode Capital Management LLC now owns 139,939 shares of the bank’s stock worth $4,340,000 after purchasing an additional 74,032 shares during the period. Huber Capital Management LLC increased its holdings in shares of First United by 0.5% in the 1st quarter. Huber Capital Management LLC now owns 124,239 shares of the bank’s stock valued at $3,730,000 after purchasing an additional 625 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of First United by 3.5% in the 2nd quarter. Acadian Asset Management LLC now owns 91,972 shares of the bank’s stock valued at $2,850,000 after purchasing an additional 3,105 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of First United by 1.6% in the second quarter. American Century Companies Inc. now owns 91,454 shares of the bank’s stock valued at $2,836,000 after purchasing an additional 1,446 shares during the period. 33.27% of the stock is currently owned by hedge funds and other institutional investors.

First United Stock Performance

NASDAQ:FUNC opened at $38.14 on Friday. First United Corporation has a 52-week low of $24.66 and a 52-week high of $42.50. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $36.29 and a 200-day simple moving average of $34.20. The company has a market capitalization of $247.80 million, a PE ratio of 9.96 and a beta of 0.70.

First United (NASDAQ:FUNC) last posted its earnings results on Tuesday, October 21st. The bank reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.18. The firm had revenue of $22.80 million during the quarter, compared to the consensus estimate of $22.13 million. First United had a net margin of 21.02% and a return on equity of 13.49%. During the same period last year, the firm posted $0.89 EPS. On average, equities research analysts expect that First United Corporation will post 3.75 earnings per share for the current fiscal year.

First United Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 17th were paid a dividend of $0.26 per share. This is a positive change from First United’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, October 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.7%. First United’s dividend payout ratio is 27.15%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First United in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, First United presently has an average rating of “Buy” and an average target price of $42.00.

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.