First United (NASDAQ:FUNC) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of First United (NASDAQ:FUNC) from a buy rating to a hold rating in a report published on Friday.

First United Price Performance

Shares of First United stock opened at $32.58 on Friday. The stock has a market capitalization of $210.79 million, a P/E ratio of 13.24 and a beta of 0.81. The business has a 50 day simple moving average of $33.97 and a two-hundred day simple moving average of $31.17. First United has a 12 month low of $19.17 and a 12 month high of $36.49. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.94 and a quick ratio of 0.94.

First United Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 17th will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, January 17th. This represents a $0.88 annualized dividend and a yield of 2.70%. First United’s dividend payout ratio (DPR) is presently 35.77%.

Institutional Trading of First United

Several large investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of First United in the third quarter valued at about $97,000. Barclays PLC acquired a new stake in shares of First United during the 3rd quarter worth approximately $126,000. SeaCrest Wealth Management LLC purchased a new stake in shares of First United during the 3rd quarter valued at approximately $202,000. Ritholtz Wealth Management purchased a new stake in shares of First United during the 3rd quarter valued at approximately $460,000. Finally, Empowered Funds LLC grew its position in First United by 5.4% in the third quarter. Empowered Funds LLC now owns 23,713 shares of the bank’s stock worth $708,000 after acquiring an additional 1,206 shares during the period. Hedge funds and other 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.