First United (NASDAQ:FUNC) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

First United Co. (NASDAQ:FUNC) crossed 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.

Analyst Upgrades and Downgrades

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

First United Price Performance

The stock has a market capitalization of $215.03 million, a P/E ratio of 13.51 and a beta of 0.81. The company’s 50 day simple moving average is $34.32 and its two-hundred day simple moving average is $29.49. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.94 and a quick ratio of 0.94.

First United (NASDAQ:FUNC) last released its quarterly earnings results on Monday, October 21st. The bank reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. First United had a return on equity of 12.20% and a net margin of 14.70%. The business had revenue of $28.17 million for the quarter, compared to analyst estimates of $20.30 million. As a group, equities analysts expect that First United Co. will post 3.11 EPS for the current fiscal year.

First United Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 17th will be paid a $0.22 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.65%. First United’s dividend payout ratio (DPR) is presently 35.77%.

Institutional Trading of First United

Hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC boosted its holdings in First United by 72.2% in the second quarter. Acadian Asset Management LLC now owns 66,698 shares of the bank’s stock valued at $1,360,000 after acquiring an additional 27,973 shares during the last quarter. American Century Companies Inc. grew its position in shares of First United by 13.2% during the 2nd quarter. American Century Companies Inc. now owns 39,947 shares of the bank’s stock worth $816,000 after buying an additional 4,645 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of First United by 7.0% during the second quarter. Dimensional Fund Advisors LP now owns 372,330 shares of the bank’s stock worth $7,603,000 after buying an additional 24,457 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in First United by 14.3% in the second quarter. Renaissance Technologies LLC now owns 82,195 shares of the bank’s stock valued at $1,678,000 after buying an additional 10,280 shares during the period. Finally, Huber Capital Management LLC boosted its stake in First United by 4.2% in the second quarter. Huber Capital Management LLC now owns 124,556 shares of the bank’s stock valued at $2,543,000 after acquiring an additional 5,000 shares during the last quarter. 33.27% of the stock is owned by institutional investors.

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.