First United (NASDAQ:FUNC) Stock Crosses Above 200 Day Moving Average of $18.52

First United Co. (NASDAQ:FUNCGet Rating)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $18.52 and traded as high as $18.69. First United shares last traded at $18.50, with a volume of 1,040 shares changing hands.

Analysts Set New Price Targets

Separately, started coverage on shares of First United in a research note on Wednesday. They issued a “buy” rating on the stock.

First United Price Performance

The stock has a fifty day moving average of $17.64 and a 200-day moving average of $18.52. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $123.14 million, a P/E ratio of 4.79 and a beta of 0.77.

First United Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th were issued a $0.15 dividend. The ex-dividend date was Monday, October 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.24%. First United’s dividend payout ratio is 15.54%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. SeaCrest Wealth Management LLC bought a new position in shares of First United in the second quarter valued at about $140,000. Acadian Asset Management LLC bought a new stake in First United during the 1st quarter worth about $212,000. First Republic Investment Management Inc. bought a new stake in First United during the 3rd quarter worth about $212,000. State Street Corp raised its holdings in First United by 11.1% during the 1st quarter. State Street Corp now owns 14,637 shares of the bank’s stock worth $330,000 after purchasing an additional 1,462 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in First United during the 2nd quarter worth about $283,000. 31.28% of the stock is owned by institutional investors.

About First United

(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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