First United (NASDAQ:FUNC) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of First United Co. (NASDAQ:FUNC) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $29.39 and traded as high as $33.93. First United shares last traded at $33.42, with a volume of 26,033 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised First United from a “hold” rating to a “buy” rating in a research report on Monday, October 7th.

First United Stock Down 0.5 %

The firm has a market capitalization of $215.03 million, a price-to-earnings ratio of 13.51 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. The business’s 50 day moving average is $34.32 and its 200-day moving average is $29.49.

First United (NASDAQ:FUNC) last issued its quarterly earnings results on Monday, October 21st. The bank reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.10. First United had a return on equity of 12.20% and a net margin of 14.70%. The company had revenue of $28.17 million for the quarter, compared to the consensus estimate of $20.30 million. Equities analysts anticipate that First United Co. will post 3.11 EPS for the current fiscal year.

First United Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 17th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.65%. The ex-dividend date is Friday, January 17th. First United’s dividend payout ratio is currently 35.77%.

Hedge Funds Weigh In On First United

A number of institutional investors and hedge funds have recently bought and sold shares of FUNC. Barclays PLC acquired a new position in First United in the 3rd quarter valued at approximately $126,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of First United in the third quarter valued at $97,000. Fourthstone LLC lifted its position in 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 purchasing an additional 101,915 shares during the period. De Lisle Partners LLP lifted its position in First United by 9.0% in the third quarter. De Lisle Partners LLP now owns 120,838 shares of the bank’s stock worth $3,619,000 after purchasing an additional 10,000 shares during the period. Finally, Empowered Funds LLC boosted its stake in First United by 5.4% during the third quarter. Empowered Funds LLC now owns 23,713 shares of the bank’s stock worth $708,000 after buying an additional 1,206 shares in the last quarter. 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.