Huber Capital Management LLC Has $2.54 Million Stock Position in First United Co. (NASDAQ:FUNC)

Huber Capital Management LLC grew its stake in shares of First United Co. (NASDAQ:FUNC) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 124,556 shares of the bank’s stock after acquiring an additional 5,000 shares during the period. Huber Capital Management LLC’s holdings in First United were worth $2,543,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in FUNC. Hillsdale Investment Management Inc. acquired a new stake in First United during the 1st quarter worth approximately $111,000. Price T Rowe Associates Inc. MD bought a new position in First United during the 1st quarter worth $209,000. Quadrature Capital Ltd acquired a new stake in shares of First United during the first quarter worth $298,000. Empowered Funds LLC boosted its position in shares of First United by 8.0% in the first quarter. Empowered Funds LLC now owns 16,136 shares of the bank’s stock valued at $370,000 after acquiring an additional 1,192 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its stake in shares of First United by 103.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 22,805 shares of the bank’s stock valued at $522,000 after acquiring an additional 11,576 shares in the last quarter. Institutional investors own 33.27% of the company’s stock.

Insider Buying and Selling

In other news, Director Irvin Robert Rudy sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $27.52, for a total value of $55,040.00. Following the completion of the transaction, the director now directly owns 37,000 shares in the company, valued at approximately $1,018,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders bought 188 shares of company stock valued at $5,254 over the last quarter. 7.80% of the stock is owned by company insiders.

First United Trading Down 2.5 %

Shares of FUNC stock opened at $29.99 on Friday. The stock has a market cap of $199.40 million, a P/E ratio of 13.95 and a beta of 0.79. First United Co. has a 1 year low of $15.68 and a 1 year high of $30.93. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.43. The stock has a 50 day simple moving average of $27.68 and a 200 day simple moving average of $23.67.

First United (NASDAQ:FUNC) last released its earnings results on Monday, July 22nd. The bank reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.09. First United had a return on equity of 11.78% and a net margin of 13.84%. The company had revenue of $27.95 million for the quarter, compared to analyst estimates of $19.34 million. On average, research analysts predict that First United Co. will post 3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of First United from a “buy” rating to a “hold” rating in a research note on Thursday, August 29th.

First United 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.