First United (NASDAQ:FUNC) Cut to “Hold” at StockNews.com

StockNews.com cut shares of First United (NASDAQ:FUNC) from a buy rating to a hold rating in a research report sent to investors on Sunday morning.

Separately, Raymond James upgraded First United from a “market perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a report on Friday, February 7th.

First United Price Performance

Shares of First United stock opened at $41.26 on Friday. First United has a 52 week low of $19.17 and a 52 week high of $42.50. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.70. The company’s 50-day moving average price is $34.49 and its two-hundred day moving average price is $32.18. The stock has a market cap of $266.98 million, a PE ratio of 13.10 and a beta of 0.81.

First United (NASDAQ:FUNC) last released its earnings results on Wednesday, February 5th. The bank reported $0.95 EPS for the quarter, beating the consensus estimate of $0.86 by $0.09. First United had a net margin of 18.45% and a return on equity of 12.51%. As a group, sell-side analysts anticipate that First United will post 3.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position in shares of First United by 194.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 742 shares of the bank’s stock valued at $25,000 after acquiring an additional 490 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in First United during the 3rd quarter valued at $97,000. Barclays PLC purchased a new stake in shares of First United in the third quarter valued at $126,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of First United in the fourth quarter worth $237,000. Finally, 683 Capital Management LLC purchased a new position in shares of First United during the fourth quarter valued at $339,000. 33.27% of the stock is currently owned by institutional investors and hedge funds.

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.