First United (NASDAQ:FUNC) Stock Price Crosses Above Two Hundred Day Moving Average of $22.27

First United Co. (NASDAQ:FUNC)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $22.27 and traded as high as $27.48. First United shares last traded at $27.08, with a volume of 11,314 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com raised First United from a “hold” rating to a “buy” rating in a research report on Tuesday, July 30th.

First United Stock Performance

The firm has a 50-day moving average price of $22.58 and a 200-day moving average price of $22.30. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market cap of $180.05 million, a PE ratio of 12.60 and a beta of 0.78.

First United (NASDAQ:FUNC) last posted its quarterly earnings results on Monday, July 22nd. The bank reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.09. The firm had revenue of $27.95 million during the quarter, compared to analyst estimates of $19.34 million. First United had a return on equity of 11.85% and a net margin of 13.84%. As a group, equities analysts anticipate that First United Co. will post 3 EPS for the current fiscal year.

First United Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Thursday, July 18th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Thursday, July 18th. First United’s dividend payout ratio is presently 37.21%.

Insider Transactions at First United

In other news, Director Irvin Robert Rudy sold 2,000 shares of First United stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $27.52, for a total value of $55,040.00. Following the completion of the transaction, the director now owns 37,000 shares of the company’s stock, valued at approximately $1,018,240. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders purchased a total of 188 shares of company stock valued at $5,254 in the last quarter. 7.80% of the stock is owned by insiders.

Hedge Funds Weigh In On First United

Hedge funds have recently bought and sold shares of the business. AJOVista LLC purchased a new position in First United in the 4th quarter worth about $49,000. Hillsdale Investment Management Inc. bought a new stake in shares of First United during the 1st quarter valued at about $111,000. Price T Rowe Associates Inc. MD bought a new stake in shares of First United during the 1st quarter valued at about $209,000. Quadrature Capital Ltd bought a new stake in shares of First United during the 1st quarter valued at about $298,000. Finally, Empowered Funds LLC grew its stake in shares of First United by 8.0% during the 1st quarter. Empowered Funds LLC now owns 16,136 shares of the bank’s stock valued at $370,000 after purchasing an additional 1,192 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 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.