First United Co. (NASDAQ:FUNC) Shares Sold by State Street Corp

State Street Corp cut its holdings in shares of First United Co. (NASDAQ:FUNC) by 7.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,596 shares of the bank’s stock after selling 1,600 shares during the period. State Street Corp owned 0.30% of First United worth $585,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in First United in the third quarter valued at $97,000. Fourthstone LLC grew its holdings in shares of First United by 30.0% during the third quarter. Fourthstone LLC now owns 441,143 shares of the bank’s stock worth $13,164,000 after buying an additional 101,915 shares during the last quarter. De Lisle Partners LLP increased its position in First United by 9.0% in the 3rd quarter. De Lisle Partners LLP now owns 120,838 shares of the bank’s stock valued at $3,619,000 after acquiring an additional 10,000 shares during the period. Empowered Funds LLC raised its stake in First United by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 23,713 shares of the bank’s stock valued at $708,000 after acquiring an additional 1,206 shares during the last quarter. Finally, SeaCrest Wealth Management LLC acquired a new stake in First United during the 3rd quarter worth approximately $202,000. 33.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com raised First United from a “hold” rating to a “buy” rating in a report on Monday, October 7th.

First United Stock Down 0.5 %

Shares of First United stock opened at $33.24 on Friday. First United Co. has a one year low of $19.17 and a one year high of $36.49. The company has a market cap of $215.03 million, a P/E ratio of 13.51 and a beta of 0.80. 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 firm has a fifty day moving average of $34.32 and a two-hundred day moving average of $29.49.

First United (NASDAQ:FUNC) last posted its quarterly 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. First United had a net margin of 14.70% and a return on equity of 12.20%. The firm had revenue of $28.17 million during the quarter, compared to analysts’ expectations of $20.30 million. On average, analysts forecast that First United Co. will post 3.11 earnings per share for the current year.

First United Dividend Announcement

The firm also recently declared 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 is Friday, January 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.65%. First United’s dividend payout ratio (DPR) is presently 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.