15,412 Shares in First United Co. (NASDAQ:FUNC) Bought by Ritholtz Wealth Management

Ritholtz Wealth Management purchased a new stake in shares of First United Co. (NASDAQ:FUNC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 15,412 shares of the bank’s stock, valued at approximately $460,000. Ritholtz Wealth Management owned 0.23% of First United as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of FUNC. 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 valued at $2,543,000 after buying an additional 5,000 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of 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 acquiring an additional 10,280 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of First United by 7.0% in the second quarter. Dimensional Fund Advisors LP now owns 372,330 shares of the bank’s stock valued at $7,603,000 after acquiring an additional 24,457 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of First United by 13.2% in the second quarter. American Century Companies Inc. now owns 39,947 shares of the bank’s stock worth $816,000 after acquiring an additional 4,645 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of First United by 72.2% during the second quarter. Acadian Asset Management LLC now owns 66,698 shares of the bank’s stock worth $1,360,000 after purchasing an additional 27,973 shares in the last quarter. Hedge funds and other institutional investors own 33.27% of the company’s stock.

Insider Activity

In other First United news, Director Irvin Robert Rudy sold 2,000 shares of First United stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $27.52, for a total transaction of $55,040.00. Following the completion of the sale, the director now directly owns 37,000 shares of the company’s stock, valued at $1,018,240. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders purchased 188 shares of company stock valued at $5,254. Corporate insiders own 7.80% of the company’s stock.

First United Stock Up 1.9 %

Shares of NASDAQ:FUNC opened at $31.70 on Thursday. The company has a 50-day moving average price of $29.01 and a 200 day moving average price of $24.60. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.43. First United Co. has a 12 month low of $15.68 and a 12 month high of $31.70. The company has a market cap of $210.77 million, a price-to-earnings ratio of 14.74 and a beta of 0.79.

First United (NASDAQ:FUNC) last announced its earnings results on Monday, July 22nd. The bank reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.09. The business had revenue of $27.95 million for the quarter, compared to the consensus estimate of $19.34 million. First United had a net margin of 13.84% and a return on equity of 11.78%. As a group, equities research analysts predict that First United Co. will post 2.98 earnings per share for the current year.

First United Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, October 18th. This is a positive change from First United’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.78%. First United’s dividend payout ratio (DPR) is 40.93%.

Analyst Ratings Changes

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

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.