First United (NASDAQ:FUNC) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
Shares of First United (NASDAQ FUNC) traded up $0.05 on Friday, reaching $17.60. 657 shares of the company’s stock traded hands, compared to its average volume of 3,257. The stock has a market cap of $124.39, a PE ratio of 18.92 and a beta of 0.45. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.09. First United has a fifty-two week low of $12.55 and a fifty-two week high of $18.30.
First United (NASDAQ:FUNC) last announced its quarterly earnings results on Monday, November 13th. The bank reported $0.25 earnings per share for the quarter. The business had revenue of $13.76 million during the quarter. First United had a net margin of 12.80% and a return on equity of 7.39%.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in First United by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 246,846 shares of the bank’s stock valued at $3,690,000 after buying an additional 2,133 shares during the period. Northern Trust Corp lifted its position in shares of First United by 4.4% in the 2nd quarter. Northern Trust Corp now owns 72,536 shares of the bank’s stock worth $1,081,000 after purchasing an additional 3,050 shares during the period. Western Standard LLC lifted its position in shares of First United by 43.1% in the 3rd quarter. Western Standard LLC now owns 18,617 shares of the bank’s stock worth $310,000 after purchasing an additional 5,607 shares during the period. Finally, M3F Inc. lifted its position in shares of First United by 1.2% in the 2nd quarter. M3F Inc. now owns 635,638 shares of the bank’s stock worth $9,471,000 after purchasing an additional 7,560 shares during the period. 34.58% of the stock is owned by institutional investors and hedge funds.
First United Company Profile
First United Corporation is a bank holding company. The Company’s primary business is serving as the parent company of First United Bank & Trust (the Bank), First United Statutory Trust I, First United Statutory Trust II and First United Statutory Trust III. It operates through community banking segment.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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