First United (NASDAQ:FUNC) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

First United Co. (NASDAQ:FUNC)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $30.29 and traded as high as $34.94. First United shares last traded at $33.05, with a volume of 47,616 shares.

Analysts Set New Price Targets

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 Stock Down 0.3 %

The firm’s 50-day simple moving average is $34.39 and its 200 day simple moving average is $30.44. 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 has a market capitalization of $213.19 million, a P/E ratio of 13.39 and a beta of 0.81.

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

First United Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 17th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.88 annualized dividend and a dividend yield of 2.67%. First United’s dividend payout ratio is presently 35.77%.

Institutional Trading of First United

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of First United during the 3rd quarter worth about $97,000. Barclays PLC bought a new position in First United during the third quarter worth about $126,000. SeaCrest Wealth Management LLC acquired a new position in First United during the third quarter worth approximately $202,000. Ritholtz Wealth Management bought a new stake in First United in the third quarter valued at approximately $460,000. Finally, Empowered Funds LLC lifted its position in shares of First United by 5.4% in the third quarter. Empowered Funds LLC now owns 23,713 shares of the bank’s stock valued at $708,000 after buying an additional 1,206 shares during the last quarter. 33.27% of the stock is owned by 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.