First United (FUNC) Downgraded by ValuEngine

First United (NASDAQ:FUNC) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Friday, March 22nd, ValuEngine reports.

Shares of NASDAQ FUNC traded up $0.25 during trading hours on Friday, hitting $18.50. The stock had a trading volume of 7,477 shares, compared to its average volume of 15,132. The stock has a market cap of $129.39 million, a price-to-earnings ratio of 11.33 and a beta of 0.75. First United has a 52 week low of $14.75 and a 52 week high of $24.32. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.89 and a current ratio of 0.89.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC bought a new stake in shares of First United in the 4th quarter valued at approximately $64,000. Strs Ohio grew its stake in shares of First United by 51.5% in the 4th quarter. Strs Ohio now owns 8,200 shares of the bank’s stock valued at $130,000 after buying an additional 2,788 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of First United in the 3rd quarter valued at approximately $202,000. Wells Fargo & Company MN grew its stake in shares of First United by 71.1% in the 3rd quarter. Wells Fargo & Company MN now owns 14,287 shares of the bank’s stock valued at $269,000 after buying an additional 5,935 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of First United by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 60,041 shares of the bank’s stock valued at $955,000 after buying an additional 3,128 shares in the last quarter. 35.35% of the stock is owned by institutional investors and hedge funds.

First United Company Profile

First United Corporation operates as the holding company for First United Bank & Trust that provides various retail and commercial banking services to businesses and individuals. The company offers various deposit products, including checking accounts, savings and money market accounts, regular and individual retirement accounts (IRA) certificates of deposit, Christmas savings accounts, college savings accounts, and health savings accounts; Certificate of Deposit Account Registry Service program and Insured Cash Sweep program to municipalities, businesses, and consumers; and commercial customers packages, which include treasury management, cash sweep, and various checking opportunities.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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