First United (NASDAQ:FUNC) Stock Passes Above 200 Day Moving Average of $20.63

Shares of First United Co. (NASDAQ:FUNC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $20.63 and traded as high as $22.49. First United shares last traded at $22.31, with a volume of 26,703 shares.

First United Price Performance

The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $148.14 million, a P/E ratio of 9.96 and a beta of 0.86. The company’s 50-day simple moving average is $22.14 and its 200 day simple moving average is $20.63.

First United (NASDAQ:FUNC) last released its earnings results on Monday, February 5th. The bank reported $0.82 EPS for the quarter, beating the consensus estimate of $0.61 by $0.21. First United had a net margin of 15.12% and a return on equity of 12.03%. The firm had revenue of $26.98 million during the quarter, compared to analysts’ expectations of $14.68 million. As a group, sell-side analysts expect that First United Co. will post 2.8 earnings per share for the current fiscal year.

First United Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 17th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date is Tuesday, April 16th. First United’s dividend payout ratio (DPR) is currently 35.71%.

Institutional Investors Weigh In On First United

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in First United by 36.6% during the 2nd quarter. BlackRock Inc. now owns 110,963 shares of the bank’s stock worth $1,582,000 after acquiring an additional 29,704 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of First United in the second quarter valued at approximately $283,000. Gendell Jeffrey L raised its holdings in shares of First United by 7.7% in the third quarter. Gendell Jeffrey L now owns 160,640 shares of the bank’s stock valued at $2,606,000 after purchasing an additional 11,418 shares during the last quarter. Acadian Asset Management LLC acquired a new position in First United during the first quarter worth $212,000. Finally, American Century Companies Inc. increased its holdings in First United by 28.5% during the first quarter. American Century Companies Inc. now owns 27,583 shares of the bank’s stock worth $621,000 after buying an additional 6,112 shares during the last quarter. Institutional investors own 33.27% of the company’s stock.

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, and money market deposit accounts, as well as certificates of deposit.