Hillsdale Investment Management Inc. acquired a new stake in First United Co. (NASDAQ:FUNC – Free Report) during the first quarter, HoldingsChannel reports. The firm acquired 4,836 shares of the bank’s stock, valued at approximately $111,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. AJOVista LLC acquired a new position in First United in the fourth quarter valued at $49,000. Empowered Funds LLC grew its holdings in shares of First United by 8.0% during the first quarter. Empowered Funds LLC now owns 16,136 shares of the bank’s stock worth $370,000 after purchasing an additional 1,192 shares during the last quarter. PARK CIRCLE Co acquired a new stake in shares of First United during the first quarter worth about $525,000. Acadian Asset Management LLC lifted its holdings in shares of First United by 283.2% in the 1st quarter. Acadian Asset Management LLC now owns 38,725 shares of the bank’s stock valued at $886,000 after purchasing an additional 28,619 shares during the last quarter. Finally, Gendell Jeffrey L boosted its position in shares of First United by 4.4% in the 4th quarter. Gendell Jeffrey L now owns 167,704 shares of the bank’s stock valued at $3,943,000 after purchasing an additional 7,064 shares during the period. Institutional investors and hedge funds own 33.27% of the company’s stock.
First United Price Performance
NASDAQ:FUNC remained flat at $24.01 during trading hours on Monday. 19,239 shares of the company were exchanged, compared to its average volume of 24,577. First United Co. has a 12-month low of $15.68 and a 12-month high of $24.28. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. The firm has a market cap of $159.67 million, a price-to-earnings ratio of 11.17 and a beta of 0.79. The firm’s fifty day moving average is $20.90 and its 200-day moving average is $21.82.
First United Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Thursday, July 18th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Thursday, July 18th. First United’s payout ratio is currently 37.21%.
Analyst Upgrades and Downgrades
Separately, StockNews.com lowered First United from a “buy” rating to a “hold” rating in a research report on Monday.
Read Our Latest Report on First United
About First United
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.
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