StockNews.com Begins Coverage on First United (NASDAQ:FUNC)

StockNews.com started coverage on shares of First United (NASDAQ:FUNC – Get Rating) in a note issued to investors on Tuesday. The firm set a “buy” rating on the bank’s stock.

First United Price Performance

Shares of First United stock opened at $19.30 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. First United has a twelve month low of $16.18 and a twelve month high of $24.50. The business has a 50-day moving average price of $19.46 and a 200 day moving average price of $18.43. The firm has a market cap of $128.46 million, a PE ratio of 5.00 and a beta of 0.78.

Hedge Funds Weigh In On First United

Several institutional investors and hedge funds have recently modified their holdings of FUNC. American Century Companies Inc. increased its stake in shares of First United by 28.5% in the 1st quarter. American Century Companies Inc. now owns 27,583 shares of the bank’s stock valued at $621,000 after purchasing an additional 6,112 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in First United in the 1st quarter worth about $212,000. BlackRock Inc. boosted its holdings in First United by 11.4% in the 1st quarter. BlackRock Inc. now owns 80,654 shares of the bank’s stock worth $1,817,000 after buying an additional 8,224 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in First United by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 311,445 shares of the bank’s stock worth $7,017,000 after buying an additional 2,830 shares during the last quarter. Finally, EJF Capital LLC boosted its holdings in First United by 0.5% in the 1st quarter. EJF Capital LLC now owns 243,348 shares of the bank’s stock worth $5,483,000 after buying an additional 1,296 shares during the last quarter. Hedge funds and other institutional investors own 31.59% of the company’s stock.

About First United

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First United Corp. is a bank holding company, which engages in community banking services. It offers checking, savings, money market deposit accounts, and certificates of deposit, business loans, personal loans, mortgage loans, lines of credit, and consumer-oriented retirement accounts including individual retirement accounts, and employee benefit accounts through its subsidiary.