First United (NASDAQ:FUNC) Rating Lowered to “Hold” at Wall Street Zen

First United (NASDAQ:FUNC) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Hovde Group initiated coverage on First United in a research note on Friday. They set an “outperform” rating and a $44.50 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $44.50.

First United Price Performance

First United stock opened at $39.54 on Friday. The firm has a market capitalization of $255.03 million, a P/E ratio of 10.11 and a beta of 0.52. First United has a one year low of $28.00 and a one year high of $41.94. The business has a fifty day moving average price of $37.50 and a 200-day moving average price of $37.63. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.91 and a quick ratio of 0.91.

First United (NASDAQ:FUNC) last posted its quarterly earnings data on Tuesday, April 21st. The bank reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.10. The company had revenue of $23.41 million during the quarter, compared to analyst estimates of $22.83 million. First United had a return on equity of 13.39% and a net margin of 20.55%. As a group, equities research analysts forecast that First United will post 4.4 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Empowered Funds LLC increased its holdings in shares of First United by 6.3% in the first quarter. Empowered Funds LLC now owns 38,112 shares of the bank’s stock worth $1,396,000 after buying an additional 2,243 shares during the period. Hsbc Holdings PLC increased its holdings in shares of First United by 44.2% in the first quarter. Hsbc Holdings PLC now owns 11,508 shares of the bank’s stock worth $427,000 after buying an additional 3,528 shares during the period. AdvisorNet Financial Inc increased its holdings in shares of First United by 126.8% in the first quarter. AdvisorNet Financial Inc now owns 896 shares of the bank’s stock worth $33,000 after buying an additional 501 shares during the period. Corient Private Wealth LLC purchased a new position in shares of First United in the fourth quarter worth about $205,000. Finally, Bridgeway Capital Management LLC increased its holdings in shares of First United by 4.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 73,537 shares of the bank’s stock worth $2,753,000 after buying an additional 3,293 shares during the period. Hedge funds and other institutional investors own 33.27% of the company’s stock.

First United Company Profile

First United Corporation is a bank holding company that, through its subsidiary First United Bank & Trust, provides a full suite of commercial and consumer banking services to individuals, businesses, and agricultural customers across central Oklahoma. The company offers deposit accounts such as checking, savings, money market and time deposits, alongside a variety of lending solutions covering commercial real estate, construction, agricultural and consumer loans.

In addition to traditional banking products, First United delivers treasury management and cash management solutions designed to streamline client operations, as well as online and mobile banking platforms for account access and payments.