First United Corporation (NASDAQ:FUNC) Short Interest Down 45.4% in December

First United Corporation (NASDAQ:FUNC) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totaling 31,391 shares, a decrease of 45.4% from the December 15th total of 57,516 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average trading volume of 28,811 shares, the short-interest ratio is presently 1.1 days. Based on an average trading volume of 28,811 shares, the short-interest ratio is presently 1.1 days. Approximately 0.5% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On First United

Institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. lifted its position in First United by 3.4% during the second quarter. Invesco Ltd. now owns 11,105 shares of the bank’s stock valued at $344,000 after buying an additional 364 shares during the period. JPMorgan Chase & Co. increased its stake in shares of First United by 9.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,208 shares of the bank’s stock worth $191,000 after acquiring an additional 431 shares in the last quarter. BNP Paribas Financial Markets lifted its position in First United by 102.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,524 shares of the bank’s stock valued at $56,000 after acquiring an additional 770 shares during the period. TD Waterhouse Canada Inc. bought a new stake in First United during the second quarter worth about $31,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in shares of First United during the second quarter valued at approximately $36,000. Institutional investors own 33.27% of the company’s stock.

First United Trading Up 3.6%

Shares of FUNC traded up $1.38 during trading hours on Thursday, reaching $39.41. 5,398 shares of the company traded hands, compared to its average volume of 25,367. First United has a 12 month low of $24.66 and a 12 month high of $42.50. The company has a market capitalization of $256.07 million, a price-to-earnings ratio of 10.29 and a beta of 0.54. The company’s fifty day moving average price is $38.01 and its two-hundred day moving average price is $36.27. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.48.

First United (NASDAQ:FUNC) last issued its quarterly earnings data on Tuesday, October 21st. The bank reported $1.07 EPS for the quarter, topping the consensus estimate of $0.89 by $0.18. First United had a net margin of 21.02% and a return on equity of 13.24%. The business had revenue of $22.80 million during the quarter, compared to analyst estimates of $22.13 million. During the same period last year, the business posted $0.89 earnings per share. Equities research analysts predict that First United will post 3.75 earnings per share for the current fiscal year.

First United Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 16th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, January 16th. This represents a $1.04 annualized dividend and a dividend yield of 2.6%. First United’s payout ratio is currently 27.15%.

About First United

First United Corporation is a bank holding company that, through its subsidiary First United Bank & Trust, provides a full suite of commercial and consumer banking services to individuals, businesses, and agricultural customers across central Oklahoma. The company offers deposit accounts such as checking, savings, money market and time deposits, alongside a variety of lending solutions covering commercial real estate, construction, agricultural and consumer loans.

In addition to traditional banking products, First United delivers treasury management and cash management solutions designed to streamline client operations, as well as online and mobile banking platforms for account access and payments.