First United (NASDAQ:FUNC) Stock Rating Upgraded by StockNews.com

First United (NASDAQ:FUNC) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Separately, Raymond James raised shares of First United from a “market perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research note on Friday, February 7th.

First United Price Performance

NASDAQ FUNC opened at $30.87 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $200.01 million, a price-to-earnings ratio of 9.80 and a beta of 0.59. The business has a 50 day simple moving average of $29.77 and a 200 day simple moving average of $32.92. First United has a 52-week low of $19.17 and a 52-week high of $42.50.

First United (NASDAQ:FUNC) last released its quarterly earnings results on Monday, April 21st. The bank reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.09. First United had a net margin of 18.45% and a return on equity of 12.51%. The company had revenue of $20.84 million during the quarter, compared to analysts’ expectations of $20.63 million. Analysts anticipate that First United will post 3.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First United

Several institutional investors have recently bought and sold shares of FUNC. Acadian Asset Management LLC grew its stake in shares of First United by 2.2% during the 1st quarter. Acadian Asset Management LLC now owns 88,867 shares of the bank’s stock worth $2,666,000 after acquiring an additional 1,949 shares in the last quarter. Jane Street Group LLC boosted its holdings in First United by 67.4% during the first quarter. Jane Street Group LLC now owns 26,035 shares of the bank’s stock worth $782,000 after purchasing an additional 10,483 shares during the last quarter. Empowered Funds LLC grew its position in First United by 6.7% in the first quarter. Empowered Funds LLC now owns 26,549 shares of the bank’s stock valued at $797,000 after purchasing an additional 1,656 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in First United by 53.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 58,718 shares of the bank’s stock valued at $1,763,000 after buying an additional 20,387 shares during the last quarter. Finally, Millennium Management LLC lifted its position in First United by 349.9% during the 1st quarter. Millennium Management LLC now owns 140,586 shares of the bank’s stock worth $4,220,000 after buying an additional 109,340 shares in 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, money market deposit, and regular and individual retirement accounts (IRAs), as well as certificates of deposit.