First United (NASDAQ:FUNC) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Shares of First United Co. (NASDAQ:FUNC) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $25.16 and traded as high as $31.24. First United shares last traded at $31.10, with a volume of 24,669 shares traded.

Wall Street Analyst Weigh In

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

First United Trading Up 0.3 %

The firm has a market cap of $211.04 million, a P/E ratio of 14.76 and a beta of 0.79. The business’s 50-day moving average is $29.84 and its two-hundred day moving average is $25.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.91.

First United (NASDAQ:FUNC) last released its earnings results on Monday, October 21st. The bank reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The business had revenue of $28.17 million during the quarter, compared to the consensus estimate of $20.30 million. First United had a net margin of 14.70% and a return on equity of 12.39%. As a group, analysts predict that First United Co. will post 2.98 earnings per share for the current fiscal year.

First United Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.88 dividend on an annualized basis and a yield of 2.77%. This is a boost from First United’s previous quarterly dividend of $0.20. First United’s dividend payout ratio (DPR) is currently 40.93%.

Institutional Trading of First United

A number of large investors have recently added to or reduced their stakes in FUNC. SeaCrest Wealth Management LLC acquired a new stake in shares of First United during the 3rd quarter worth about $202,000. Ritholtz Wealth Management acquired a new stake in shares of First United during the 3rd quarter worth about $460,000. Huber Capital Management LLC lifted its stake in shares of First United by 4.2% during the 2nd quarter. Huber Capital Management LLC now owns 124,556 shares of the bank’s stock worth $2,543,000 after buying an additional 5,000 shares during the last quarter. Renaissance Technologies LLC raised its stake in First United by 14.3% in the 2nd quarter. Renaissance Technologies LLC now owns 82,195 shares of the bank’s stock worth $1,678,000 after purchasing an additional 10,280 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in First United by 7.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 372,330 shares of the bank’s stock valued at $7,603,000 after purchasing an additional 24,457 shares during the period. Institutional investors and hedge funds own 33.27% of the company’s stock.

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.