SeaCrest Wealth Management LLC Invests $202,000 in First United Co. (NASDAQ:FUNC)

SeaCrest Wealth Management LLC purchased a new stake in First United Co. (NASDAQ:FUNC) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,766 shares of the bank’s stock, valued at approximately $202,000. SeaCrest Wealth Management LLC owned about 0.10% of First United as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Empowered Funds LLC raised its stake 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 worth $370,000 after acquiring an additional 1,192 shares during the last quarter. PARK CIRCLE Co bought a new position in First United in the 1st quarter worth approximately $525,000. Vanguard Group Inc. lifted its holdings in First United by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 308,612 shares of the bank’s stock worth $7,070,000 after buying an additional 10,800 shares in the last quarter. Acadian Asset Management LLC boosted its position in 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 buying an additional 28,619 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of First United in the 1st quarter valued at $111,000. Institutional investors and hedge funds own 33.27% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at First United

In other news, Director Irvin Robert Rudy sold 2,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 37,000 shares in the company, valued at approximately $1,018,240. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have purchased 188 shares of company stock valued at $5,254. 7.80% of the stock is currently owned by company insiders.

First United Price Performance

Shares of NASDAQ FUNC opened at $31.53 on Friday. First United Co. has a 1 year low of $15.68 and a 1 year high of $31.93. The firm’s 50-day moving average is $29.28 and its 200-day moving average is $24.76. 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 firm has a market capitalization of $209.64 million, a PE ratio of 14.67 and a beta of 0.79.

First United (NASDAQ:FUNC) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. The firm had revenue of $27.95 million for the quarter, compared to analysts’ expectations of $19.34 million. First United had a net margin of 13.84% and a return on equity of 11.78%. Equities analysts expect that First United Co. will post 2.98 EPS for the current year.

First United Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Friday, October 18th. This is an increase from First United’s previous quarterly dividend of $0.20. First United’s dividend payout ratio is currently 40.93%.

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.