First United (NASDAQ:FUNC) Rating Lowered to Sell at ValuEngine

ValuEngine downgraded shares of First United (NASDAQ:FUNC) from a hold rating to a sell rating in a research note issued to investors on Thursday, ValuEngine reports.

Shares of First United stock traded down $0.10 during midday trading on Thursday, hitting $20.90. 4,030 shares of the company were exchanged, compared to its average volume of 13,052. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $148.87 million, a price-to-earnings ratio of 13.64 and a beta of 0.81. First United has a 52 week low of $14.75 and a 52 week high of $21.88. The firm has a 50 day simple moving average of $19.63.

First United (NASDAQ:FUNC) last posted its earnings results on Monday, July 15th. The bank reported $0.37 EPS for the quarter. The business had revenue of $15.44 million during the quarter. First United had a return on equity of 9.21% and a net margin of 15.36%.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 17th were given a dividend of $0.09 per share. The ex-dividend date was Tuesday, July 16th. This represents a $0.36 annualized dividend and a dividend yield of 1.72%.

In related news, CEO Carissa Lynn Rodeheaver bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $100,000.00. Following the transaction, the chief executive officer now directly owns 8,369 shares of the company’s stock, valued at $167,380. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.30% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP boosted its holdings in First United by 18.7% in the fourth quarter. First Trust Advisors LP now owns 12,764 shares of the bank’s stock valued at $203,000 after acquiring an additional 2,008 shares during the last quarter. BlackRock Inc. boosted its holdings in First United by 3.0% in the fourth quarter. BlackRock Inc. now owns 355,534 shares of the bank’s stock valued at $5,661,000 after acquiring an additional 10,409 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in First United by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 299,897 shares of the bank’s stock valued at $4,774,000 after acquiring an additional 3,527 shares during the last quarter. Geode Capital Management LLC boosted its holdings in First United by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 60,041 shares of the bank’s stock valued at $955,000 after acquiring an additional 3,128 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in First United by 512.7% in the first quarter. BNP Paribas Arbitrage SA now owns 1,446 shares of the bank’s stock valued at $25,000 after acquiring an additional 1,210 shares during the last quarter. Institutional investors and hedge funds own 38.35% of the company’s stock.

About First United

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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