First United (NASDAQ:FUNC) Downgraded to “Hold” Rating by Wall Street Zen

First United (NASDAQ:FUNC) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Separately, Hovde Group began coverage on shares of First United in a research note on Friday, May 29th. They set an “outperform” rating and a $44.50 price target for the company. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $44.50.

First United Price Performance

FUNC stock opened at $41.87 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $270.06 million, a P/E ratio of 10.71 and a beta of 0.53. First United has a fifty-two week low of $28.00 and a fifty-two week high of $42.35. The business has a 50-day moving average of $38.22 and a 200-day moving average of $37.92.

First United (NASDAQ:FUNC) last announced its earnings results on Tuesday, April 21st. The bank reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.10. The business had revenue of $23.41 million for 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%. On average, sell-side analysts anticipate that First United will post 4.4 earnings per share for the current fiscal year.

Institutional Trading of First United

Several institutional investors and hedge funds have recently bought and sold shares of FUNC. AdvisorNet Financial Inc boosted its position in First United by 126.8% during the first quarter. AdvisorNet Financial Inc now owns 896 shares of the bank’s stock valued at $33,000 after purchasing an additional 501 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of First United during the 4th quarter worth approximately $38,000. BNP Paribas Financial Markets increased its position in shares of First United by 102.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,524 shares of the bank’s stock worth $56,000 after purchasing an additional 770 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of First United during the 2nd quarter worth approximately $102,000. Finally, New York State Common Retirement Fund bought a new stake in shares of First United during the 2nd quarter worth approximately $105,000. 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.