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

StockNews.com initiated coverage on shares of First United (NASDAQ:FUNCGet Rating) in a research report issued on Saturday. The brokerage set a “strong-buy” rating on the bank’s stock.

A number of other brokerages have also recently weighed in on FUNC. Zacks Investment Research raised shares of First United from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Wednesday, April 27th. Raymond James upped their target price on shares of First United from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 26th.

FUNC opened at $18.94 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.79 and a current ratio of 0.79. The business’s 50 day moving average price is $22.14 and its 200 day moving average price is $21.00. First United has a one year low of $16.26 and a one year high of $24.50. The stock has a market capitalization of $125.72 million, a PE ratio of 5.70 and a beta of 0.75.

First United (NASDAQ:FUNCGet Rating) last released its quarterly earnings results on Thursday, April 21st. The bank reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.07. First United had a return on equity of 17.36% and a net margin of 28.29%. As a group, equities research analysts forecast that First United will post 3.5 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in shares of First United by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 311,445 shares of the bank’s stock worth $7,017,000 after acquiring an additional 2,830 shares during the period. EJF Capital LLC grew its position in shares of First United by 0.5% during 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 period. BlackRock Inc. grew its position in shares of First United by 11.4% during 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 period. Pinnacle Holdings LLC grew its holdings in First United by 3.5% during the third quarter. Pinnacle Holdings LLC now owns 61,286 shares of the bank’s stock valued at $1,140,000 after purchasing an additional 2,101 shares during the period. Finally, Geode Capital Management LLC grew its holdings in First United by 1.5% during the third quarter. Geode Capital Management LLC now owns 47,813 shares of the bank’s stock valued at $889,000 after purchasing an additional 695 shares during the period. Institutional investors own 29.06% of the company’s stock.

First United Company Profile (Get Rating)

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. 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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