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

First United Co. (NASDAQ:FUNC)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $24.55 and traded as high as $31.66. First United shares last traded at $31.11, with a volume of 16,378 shares traded.

Analyst Upgrades and Downgrades

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 Trading Up 0.7 %

The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $206.85 million, a PE ratio of 14.47 and a beta of 0.79. The company has a 50 day simple moving average of $28.92 and a two-hundred day simple moving average of $24.55.

First United (NASDAQ:FUNC) last posted its earnings results on Monday, July 22nd. The bank reported $0.75 EPS for the quarter, topping the consensus estimate of $0.66 by $0.09. The firm had revenue of $27.95 million for the quarter, compared to analyst estimates of $19.34 million. First United had a return on equity of 11.78% and a net margin of 13.84%. Analysts expect that First United Co. will post 2.98 EPS for the current fiscal 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 $0.22 dividend. This is a positive change from First United’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.88 annualized dividend and a dividend yield of 2.83%. First United’s dividend payout ratio (DPR) is 40.93%.

Insider Activity

In other news, Director Irvin Robert Rudy sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $27.52, for a total value of $55,040.00. Following the completion of the sale, the director now directly owns 37,000 shares in the company, valued at $1,018,240. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have bought a total of 188 shares of company stock worth $5,254 over the last quarter. 7.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On First United

A number of hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC grew its holdings in First United by 283.2% during the 1st quarter. Acadian Asset Management LLC now owns 38,725 shares of the bank’s stock worth $886,000 after acquiring an additional 28,619 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in 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 acquiring an additional 24,457 shares during the period. PARK CIRCLE Co acquired a new position in First United during the first quarter worth about $525,000. Ritholtz Wealth Management purchased a new stake in First United during the third quarter worth $460,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of First United in the first quarter valued at about $298,000. 33.27% of the stock is currently owned by hedge funds and other institutional investors.

First United Company 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.