Empowered Funds LLC Has $708,000 Stock Holdings in First United Co. (NASDAQ:FUNC)

Empowered Funds LLC increased its position in First United Co. (NASDAQ:FUNC) by 5.4% in the third quarter, Holdings Channel.com reports. The firm owned 23,713 shares of the bank’s stock after acquiring an additional 1,206 shares during the period. Empowered Funds LLC’s holdings in First United were worth $708,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC bought a new stake in First United during the 3rd quarter worth approximately $202,000. Ritholtz Wealth Management acquired a new position in shares of First United in the third quarter valued at approximately $460,000. Huber Capital Management LLC boosted its holdings in shares of 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 buying an additional 5,000 shares during the period. Renaissance Technologies LLC increased its position in shares of First United by 14.3% during the second quarter. Renaissance Technologies LLC now owns 82,195 shares of the bank’s stock worth $1,678,000 after acquiring an additional 10,280 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings 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 acquiring an additional 24,457 shares during the period. 33.27% of the stock is owned by institutional investors.

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.

First United Trading Up 1.6 %

NASDAQ FUNC opened at $34.97 on Friday. First United Co. has a 52 week low of $18.05 and a 52 week high of $35.00. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.94 and a current ratio of 0.94. The stock’s 50 day moving average price is $31.57 and its two-hundred day moving average price is $26.59. The stock has a market capitalization of $226.26 million, a price-to-earnings ratio of 14.22 and a beta of 0.78.

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

First United Announces Dividend

The company 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 dividend of $0.22 per share. The ex-dividend date is Friday, January 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.52%. First United’s dividend payout ratio (DPR) is currently 35.77%.

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.