First United Co. (NASDAQ:FUNC) Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management boosted its position in First United Co. (NASDAQ:FUNC) by 34.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,786 shares of the bank’s stock after buying an additional 5,374 shares during the quarter. Ritholtz Wealth Management owned 0.32% of First United worth $701,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in First United in the 3rd quarter worth $97,000. Barclays PLC acquired a new stake in shares of First United in the 3rd quarter valued at about $126,000. SeaCrest Wealth Management LLC acquired a new stake in shares of First United in the 3rd quarter valued at about $202,000. Empowered Funds LLC raised its stake in shares of First United by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 23,713 shares of the bank’s stock valued at $708,000 after purchasing an additional 1,206 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of First United by 13.2% in the 2nd quarter. American Century Companies Inc. now owns 39,947 shares of the bank’s stock valued at $816,000 after purchasing an additional 4,645 shares in the last quarter. Institutional investors and hedge funds own 33.27% of the company’s stock.

First United Stock Performance

Shares of First United stock opened at $32.95 on Tuesday. The firm has a market cap of $213.15 million, a PE ratio of 13.39 and a beta of 0.81. The firm’s 50-day simple moving average is $34.35 and its 200-day simple moving average is $30.60. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.94 and a current ratio of 0.94. First United Co. has a 1 year low of $19.17 and a 1 year high of $36.49.

First United (NASDAQ:FUNC) last announced its quarterly earnings data on Monday, October 21st. The bank reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. First United had a net margin of 14.70% and a return on equity of 12.20%. The business had revenue of $28.17 million during the quarter, compared to the consensus estimate of $20.30 million. Equities analysts forecast that First United Co. will post 3.11 earnings per share for the current fiscal year.

First United Announces Dividend

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

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of First United from a “hold” rating to a “buy” rating in a research note on Monday, October 7th.

About First United

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.